The President of the United States must think we’re stupid.
First, he gives bailout money to large “too big to fail” banks. Some of them didn’t want the money, but he forced them to accept our tax dollars anyway. Next, the banks pay back the bailout money, with interest, but that’s evidently not good enough. Now the President wants to tax banks approximately $90 billion. Wow, how wonderful, we’ll show those big, mean, banks.
The President is hoping we’re stupid enough not to realize how taxes work. When a corporation is taxed guess who eventually pays that bill; that’s right, the customer. Any corporation needs a certain amount of profit to survive. If the government taxes them you and I will make up the difference, one way or another. It works out nicely for the President because he looks “tough,” and gets extra money from us that is funneled through the banks. The banks look bad again because, to survive, they must figure out a way to pass the tax on to the customer. Banks don’t print money like the government does; every dollar they spend comes from the customer.
Taxing banks, and acting “tough” to big “mean” corporations, doesn’t fool anyone with common sense. Businesses of all sizes provide jobs. Jobs allow us to house and feed our families. Jobs allow us to spend our earnings in local businesses so they can provide jobs.
Next time I vote I’m going to remember the extra costs our President has saddled us with while playing to those without common sense. I don’t vote for people that think I’m stupid, how about you?