President Obama whose strengths is definitely not free market capitalism nor economic logic, proposes a 10 year bank fee (tax hike) which would apply to about 50 Banks to cover the losses from the governments bailouts.
Anyone who has studied even elementary economics realizes that any bank fees imposed by the federal government, will be passed on to the Consumer in the form of increases in credit card interest rates, over-draft fees, maintenance account fees or whatever other creative gimmick in which banks will nickle and dime their customers.
While Obama Hood claims that the tax hikes imposed upon banks will only be temporary, “There is nothing more permanent than a temporary tax”—Author Unknown
Related Post: Obama–I will tax you to punish banks by John Stoseel, FOX Business