Thursday, January 14, 2010

We Want Our Money Back

The Obama administration wants to tax banks to pay for the financial bailout, telling banks, "We want our money back."

Can we say that to Washington?

Anyway, some claim this is unfair. They're right.

They want to tax some banks — those meeting certain magic criteria — without asking if these banks have paid back or even ever received taxpayer funds.

But didn't all these banks benefit from the assistance to troubled banks? Probably. But does that make it right to ask you to pay a special tax to pay for actions of another you have no control over?

Would we accept this with individuals? No. Then we shouldn't accept such tortured logic with banks.

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