You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #11: From NYT [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
florida08 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 12:18 PM
Response to Original message
11. From NYT
The proposed tax would apply to bank, thrift and insurance companies with more than $50 billion in assets and would start after June 30. It would not apply to certain holdings, like customers’ insured savings, but to assets in risk-taking operations. The levy would raise an estimated $90 billion over 10 years, according to the White House.....

Big banks object that most of them already have repaid the government with interest. The administration, anticipating that argument, called its tax a “financial crisis responsibility fee” aimed at those institutions whose risk-taking caused the problem in the first place...

Mr. Geithner said such a tax would be passed through to customers. The administration now argues that big banks will not be able to pass on the costs of its levy without risking a loss of market share to rivals that are not subject to the tax.

http://www.nytimes.com/2010/01/15/us/15tax.html
Printer Friendly | Permalink |  | Top
 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC