Saturday, January 16, 2010

Taxing Banks for the Bailout

http://www.nytimes.com/2010/01/15/us/15tax.html?bl


Obama is trying to create this proposal for a new tax on the nation's largest financial institutions. Obama say's that he wanted to recover every single dime the american people are owed for bailing out the economy. The proposal tax will apply to bank companies,insurance companies with more than 50 billions assets.The white house said that collecting 117 billion dollars would take about 12 years.

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