What's Wrong With This Picture?

According to a recent AP article, Obama plans to tax the top 50 banking institutions.

"The proposed 0.15 percent tax would last at least 10 years and generate about $90 billion over the decade, according to administration estimates. It would apply to about 50 of the biggest banks, those with more than $50 billion in assets"

The problem here is multiple - first, he says the tax is to "repay America for the TARP funds", yet he would be taxing institutions that never took TARP funds in the first place. Second, with the exception of CITIbank, just about every bank has already paid back the TARP funds. Meanwhile, some institutions such as General Motors, which did take TARP funds, are exempt. So it appears this has nothing to do with TARP at all - it is simply a way for the Democrats to tax the folks even more (because any tax on these institutions will be passed on - they always are).

Obama further stated that the banks made too much profit - but as I recall, the entire PURPOSE of the TARP money was to help banks get back on solid ground, with good profits so they COULD pay back the TARP funds.

So, let me get this straight...

Give banks some bailout money so they can get back on their feet and repay the money. They do get back on solid ground, and do pay back the money. And because they did what Obama wanted them to do, he has decided to punish them - and many others that took no money. But he is not going to punish the ones who DID NOT pay the money back.

Sounds about right - for the demented Obama administration

Oh - he also says the tax will "only last for a few years". Now I ask you, in the entire history of America, has ANY temporary tax or toll ever been repealed? Ever? No! Once a tax is in place, the government never lets go of it.

I swear to God that this President and his minions are out to purposely destroy capitalism and the free market in an attempt to force Americans to accept a socialist nanny state. Everything he has done in his first year is designed to either harm the economy, or help the terrorists.

Terrorists read their Miranda rights. Terrorists tried in civilian courts, and provided with the same rights that Americans have. Gitmo being closed. Enhanced interrogations disallowed. Hell, ALL interrogations disallowed, as terrorists lawyer up. CIA satellites taken offline from national security use and used to monitor the global warming farce.

And now with the health care bill the administration is cutting even more unsavory deals and sleeping with the dogs. Senator Nelson should be ashamed he did not get as good a deal as the unions just did. While you and I have to pay for the health care bill with seven new taxes, the unions, because they helped Obama get elected - are exempt. That means those taxes on you and I will be going even higher. We will pay our share, the unions' share, Nebraska's share, Florida's share and Vermont's share.

I guess we have to fire Snowe and Collins - they did not get us Mainer's a damned thing. They should have fought to exempt us from the health care bill, and maybe even get us out of having to pay those pesky income taxes. I'm sure if our esteemed Senators make Obama's job easier by offering to vote for the health care bill that he might even give us Texas.

But with our luck, we would get Haiti. And the BILL for putting it back together.

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