David Kirkpatrick

January 11, 2010

I’m not happy with the banking industry either, but …

Filed under: Business, Politics — Tags: , , , , — David Kirkpatrick @ 12:44 pm

Geithner is absolutely correct on this tax proposal. All this would do is further economically depress the very people it’s designed to protect.

From the link:

With popular anger building as big banks show profits and pay sizable bonuses while unemployment remains high, the Obama administration has come under pressure at home and abroad to support a financial transactions tax on institutions and to heavily tax their executive compensation.

But the United States, led by the Treasury Secretary Timothy F. Geithner, has been opposed, arguing that a transactions tax would simply be passed on to customers and a bonus tax could be easily circumvented.