Word: taxing
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...Allergic to Populism Shortly after Obama unveiled a $117 billion plan to tax the riskier liabilities of larger financial firms, Geithner hosted a dinner for bankers. A few of them grumbled about Big Government, class warfare and the unfairness of scapegoating financial institutions that already repaid their bailout money while GM and Chrysler keep hemorrhaging taxpayer cash. But one midsize-bank CEO suggested the tax was a reasonable surcharge on too-big-to-fail conglomerates that benefit from an implicit guarantee of federal help in a crisis. "If I fail, the FDIC shuts me down," he said. Then he gestured...
...about "wacko populists" who use "anticapitalist rhetoric" to "extract their pound of flesh from the Street" - even making excuses for the megabankers who no-showed a recent White House meeting with Obama. ("I wouldn't say they blew him off," said one Treasury aide.) Geithner has opposed proposals to tax Wall Street bonuses as well as financial transactions, infuriating the left. And he made quite a few of those how-can-we-help calls to floundering bankers when he was at the Fed, providing a juicy target for the right...
...relief fund accepts tax-deductible donations made either online, in person, or by mail to HUECU and will be open for one year...
America is facing a trillion dollar deficit. Our tax dollars have bailed out endless corporations who have flagrantly misused it. We saved the banks, yet they deny us fair lending and take our homes. We sit by and watch million dollar bonuses given away to the very executives that put our economy in peril. We hear about scandals involving AIG, the New York Federal Reserve, Fannie Mae, Freddie Mac, Goldman Sachs, Citigroup, Bank of America—there are too many to list. We listen helplessly to members of congressional oversight panels who condemn them with their voices but continue...
Americans deserve better. Proposals such as bank taxes and punitive legislation are gimmicks. Banks will simply pass that tax on to their customers. While the stock market plummets with announcements involving banking regulations, in the end so will lending. And unemployment goes unmentioned. Constitutional checks and balances are up for grabs when the president promises a “forceful response” to rulings issued by the Supreme Court of the United States on campaign finance restrictions. There are three branches of government, not one. Presently, the executive branch is being ruled by a demigod who wants control...