Potential new bank fee a double-whammy against the taxpayers

Writes Michael LeMieux:

It was announced today (Jan 14) that President Obama wants to levy a fee against the largest banks in the country with a “crisis responsibility fee” to be applied to financial organizations with assets greater than $50 Billion. This fee will be in effect for the next ten years and can be extended beyond that if necessary.The expectation is that this will raise $90 Billion dollars over the ten years in an attempt to repay some of the money used to bail out the financial industry.

My immediate question is; does this administration and this President think we are stupid or is this administration and this President so inept that they think this is good for the American people?

I say that because they are either trying to totally bankrupt the middle class in this country or our ‘leaders’ are completely ignorant of the economy of this nation.

Continue reading Obama to hasten the destruction of the middle class

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