Taxing the Banks and Financial Insitiutions for the Bailout?
by Ryan Loos on Jan.19, 2010, under General, Taxes
First, let me say that I understand that the government wants our money back from TARP. What they should have done is never have given TARP out in the first place. Listen, even if the government does set in place extra taxes on the 50 largest financial institutions that took TARP, who do you thing is going to end up paying the additional taxes that Obama is proposing. I can answer that question for you you. We will, we will end up with increased fees and less services at these financial institutions. We have to remember that these financial institutions are public companies and not non-profits. They will make a profit and the consumer will continue to pay more in fees to cover the additional taxes. Keep your check books balance to reduce overdrafts and make sure you know what banks are in your ATM network. If you are with one of the 50 largest financial institutions, I recommend you switch to a small local bank or a credit union. Look for a bank or credit union that is active in your community that and that you would not have a problem recommending to someone else.
