Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Had A Feeling This Would Be Ignored. Wonder Why?

Obama confident bank tax plan will pass Congress

President Barack Obama expressed confidence Saturday that lawmakers would approve his proposed tax on banks to recover bailout money, despite opposition from Republicans and the financial industry.
"Like clockwork, the banks and politicians who curry their favor are already trying to stop this fee from going into effect," he said, using his weekly radio and Internet addresses to promote the plan he announced this past week.
"The very same firms reaping billions of dollars in profits, and reportedly handing out more money in bonuses and compensation than ever before in history, are now pleading poverty. It's a sight to see."
If banks can afford to pay out all those bonuses, he said, then they can repay taxpayers, too.

Link in next post.

Answer Question
 
NightPhoenix

Asked by NightPhoenix at 11:07 AM on Jan. 16, 2010 in Politics & Current Events

Level 17 (4,668 Credits)
Answers (45)
  • FULL STORY HERE


    Obama challenged those who say banks can't afford the tax without passing the costs on to shareholders and customers.


    "That's hard to believe when there are reports that Wall Street is going to hand out more money in bonuses and compensation just this year than the cost of this fee over the next 10 years," he said. "If the big financial firms can afford massive bonuses, they can afford to pay back the American people."


     


    I for one am happy to see our leader going after Wall Street to give back to Main St. I knew this would be ignored here though.

    NightPhoenix

    Answer by NightPhoenix at 11:09 AM on Jan. 16, 2010

  • He made the choice to bail out the banks. The banks are probably going to need another bail out if he taxes them more.
    SaraP1989

    Answer by SaraP1989 at 11:10 AM on Jan. 16, 2010

  • This won't stop those gigantic bonuses. We never should have bailed them out in the first place. And I have no doubt those fees will be paid for by increased fees to consumers.
    mancosmomma

    Answer by mancosmomma at 11:12 AM on Jan. 16, 2010

  • move your money to smaller community banks, If possible, pay off your credit cards and CUT THEM UP!

    sweet-a-kins

    Answer by sweet-a-kins at 11:14 AM on Jan. 16, 2010

  • I with Obama on this one. Multi million dollar bonuses for needing taxpayer money to keep your business afloat? Please. Shouldn't banks of all businesses realize you pay off your debts FIRST.
    Bezu

    Answer by Bezu at 11:17 AM on Jan. 16, 2010

  • Why don't I hear people complaining that the banks are charging the consumers for the cost of these bonuses, but they are flipping out about the fees the Gov is trying to get as being charged back to them. It never ceases to amaze me that some people will defend these banks and their ridiculous compensation (which you ARE paying for) to the bitter end. Talk about drinking the kool aid! The banks hold our money, and they had a huge hand in the financial collapse, and they are taking our money (straight from us and in the form of the bail out) and putting it in their own pockets. Obama is right to get tough--the banks have proven that they will rape the country in order to make sure they can buy that next yacht.
    stacymomof2

    Answer by stacymomof2 at 11:20 AM on Jan. 16, 2010

  • Why don't I hear people complaining that the banks are charging the consumers for the cost of these bonuses, but they are flipping out about the fees the Gov is trying to get as being charged back to them.


    Because you're not listening?


    http://moveyourmoney.info/

    NotPanicking

    Answer by NotPanicking at 11:29 AM on Jan. 16, 2010

  • Thanks for posting this NightP. I'm happy to see him demanding accountability.

    SRiveroC

    Answer by SRiveroC at 11:30 AM on Jan. 16, 2010

  • Actually Stacy, It DOES anger me about the bonuses. However, Obama isn't stopping the bonuses, is he? If he could have stopped the bonuses, I would have been more than happy.

    Instead, the banks will continue to take enormous bonuses, while passing the cost of extra taxes along to the consumer. THAT is what pisses me off.
    mancosmomma

    Answer by mancosmomma at 11:30 AM on Jan. 16, 2010

  • Oh, good, he's trying to fix his screw up.
    Anonymous

    Answer by Anonymous at 11:45 AM on Jan. 16, 2010

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.