Obama Bank Fee to Hit 50 of the Biggest U.S. Financial Firms – BusinessWeek

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Obama Bank Fee to Hit 50 of the Biggest U.S. Financial Firms - BusinessWeek

Source: www.businessweek.com

As many as 50 financial firms with assets greater than $50 billion each would be hit by a levy President Barack Obama will announce today to help recoup taxpayer bailout money and trim the federal budget deficit, an administration official said.

And just where do they think the banks are going to turn around and get this money from? Thats right, their customers. You and I. Remember folks, companies dont pay "taxes" per se, we pay their taxes in the form of costs built into every product they manufacture. When their costs go up, so do ours.

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Obama Bank Fee to Hit 50 of the Biggest U.S. Financial Firms – BusinessWeek

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