So Obama wants to charge bank fees?

My response to: http://www.msnbc.msn.com/id/34808673/ns/business-stocks_and_economy

Bank fees to help payback the money “we” loaned them. What this is really saying is charge the banks a fee, which they will pass on to their customers eventually coming down to someone else paying the fee. This means “we” will be paying the fee, “we” will be paying back the money “we” loaned.

You know what else, this will impact every class, lower, middle and upper. It will not discriminate. Tell me, how does this seem logical?

My guess is this will come in the form of loan origination fees and other business type transactions. However we know who always gets stuck with the bill…the consumer.

Look at it like this, creative taxation. We loaned money we didn’t have. In fact we had to get a loan to loan money. So we will need to payback money to pay back money. Even I get mad that this is money tax payers loaned these businesses. It’s not like we had some trillion dollar cash reserve just sitting around that we could draw from in emergencies. Instead of raising taxes, we borrow money from other countries and tack on fees which eventually get passed on to tax payers in the forms of higher fees at banks or higher costs on product purchases.

I can’t wait!

Leave a Reply

Your email address will not be published. Required fields are marked *