Sunday, June 27, 2010

Obama calls for bank tax as next step in reform

Yeah! GObama! Sock it to those banks.

As if the banks will actually "pay" the tax. Oh, they might "pay" a tax, but they'll offset it by passing it off onto you. More fees. Free checking? Pah! The entire economy was written by the bankers for the bankers. They don't pay taxes. They're not regulated in the sense you think they're 'restricted' in what they can and cannot do. Regulations give them more options, not less.

All we, The People, need to figure out is that the only power these criminals have over us is the power we willingly cede to them. Stop using their corrupt system. They can't force you to use their fiat currency. They can't force you to borrow money. They can't force you to use their banks. No one rules if no one obeys.

    Reuters -

    Obama wants to slap a 0.15 percent tax on the liabilities of the biggest U.S. financial institutions to recoup the costs to taxpayers of the financial bailout.

    "We need to impose a fee on the banks that were the biggest beneficiaries of taxpayer assistance at the height of our financial crisis -- so we can recover every dime of taxpayer money," Obama said in his weekly radio and Internet address.

    Obama, who is in Canada to attend gatherings with leaders of the world's biggest economies, also used the address to welcome a deal by congressional negotiators on a historic rewriting of U.S. financial regulations.

    Obama hopes to tout the changes as a model for other countries at the Group of 20 summit on Saturday and Sunday.

    "I hope we can build on the progress we made at last year's G20 summits by coordinating our global financial reform efforts to make sure a crisis like the one from which we are still recovering never happens again," he said.

Read all of it.