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Obama proposes a “bailout tax”

January 14, 2010

At least that’s what I’m calling it. 

He wants a tax levied on financial institutions with assets of more than 50 billion dollars, to recoup the rest of the bailout money that was doled out to all those struggling companies. (full story here

Here’s the catch, they make no exception for businesses that never took a dime of bailout money or that already paid the money back in full.  This is nothing more than another usurious tax being put upon businesses.  I don’t care if they’re massive financial institutions.  Anyone who thinks that a tax on top doesn’t affect everyone is sorely mistaken.   

President Obama said “We want our money back.” 

You know what Barack Obama, so do I.  Funny thing is, the 90 billion dollars or so in tax revenue you could collect from these businesses will never reach me.  In fact, if you have your way, I’ll end up paying you more money too.

His feigned interest in justice here is only pissing me off.  This isn’t a tax for the American people.  There is no benefit for us here, because the money goes straight back into the coffers so they can use it exactly how they want.    

I’m literally fuming at the audacity and arrogance of our president.  How much more shameful is his presidency going to get? 


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