Are the Fed’s Now Using The Banking Industry To Raise Taxes?

  President Obama has released his plan to increase fees on the banks.  Also the Obama plan is to have all of the TARP funds returned with interest, or is it?  Citibank was given a release of tax burden recently.  The Citibank tax relief happened and nearly every Media outlet did not cover it, why?  The current plan to charge the Bank’s a recurring fee allows the Fed’s to tap into the Banks revenue stream.  This will not be a temporary fee that will go away at some point in the future such as paying back the TARP funds borrowed.  These fees will most likely last forever for the banks just like our own personal income tax.  I find it odd that personal income tax was never supposed to be charge in it current format but yet it is.  This is a topic for another day. 

  The Obama plan to increase fees on banks will only lead to additional charges be imposed on the banks customers, that is you and I.  Where is the money going to come from for the banks to pay these additional fees?  That is right, from yours and my pockets.  Don’t kid yourself, the banks will raise fees to their customers whatever they see fit to pay any imposed fees that Obama wants to impose on the banks.  Second grade math tells us that are our cost of goods that we want to sell goes up then we have to charge more for our services. 

  So what is the big picture here?  All of the Big Government Ideas cost real dollars to put in motion.  So where do these dollars come from?  The easiest way to get them is to raise taxes but no one wants to do that.  So plan B, raise taxes on the banks in the form of an “Obama Fee” and the banks will raise taxes in the form of fees to the people.  This way Obama does not look like the bad guy in this tax increase.  So just as the Banks blamed Brokers for the mortgage meltdown Obama is now blaming banks for not doing their part to help so let’s impose a fee, aka tax, to get want we want. 

  People look, this is all not as complicated as the Politian’s and Fed’s would leave you to believe.  This is all simple logic and math to make the economy go.  If you want the economy to take off then spend money on infrastructure now.  Not in 2011 when the voters are thinks about the next presidential election. 

I will break it down for you below;

  • Spend money on building needed freeways, bridges, communication systems, airport upgrades or any other Federal ran or overseen infrastructure items.  This will put people back to work on the projects.  More people working will create more payroll tax money; Feds get what they want without raising taxes.  Most importantly the inner cities get what they need too.     


  • Factories will have to have people to produce orders.  All of these people will need transportation to work so gas, tires, cars, car repair sales will all increase.  More orders create sells tax and payroll tax money; Feds get what they want without raising taxes. 


  • Give the banks some incentive to lend on development projects.  If business can get loans to increase the facilities then they will need additional people to work these facilities producing more requests for orders to factories.  More people working means more taxes being generated which give the Feds what they need without taxing the people                


  • Build a few dams in the south west for water storage and power generation.  This will get people working and the region needs the water and electricity.  The Feds can collect revenue from the electricity and water form the projects.  The region gets what it needs.  People get to work on the projects and factories supply orders to the projects.  The people work, the factories supply orders, the Feds have a new revenue source and all with new sells & payroll taxes increasing.


  All of this can easily be put into motion by a simple go.  OK Congress and Obama, less get the economy moving.  The Feds and the Banks need to stop this standoff.  No new fees are necessary and no FDIC threats of takeovers or needed.  Until Obama calls out George Soros nothing he says about the mortgage or banking industries can be taken seriously.  Soros reportedly gave millions to Obama’s campaign and for the most part slid under the radar.  Does anyone remember IndyMac Bank?  Soros received most of the assets of IndyMac Bank for nearly nothing.  Soros has now changed the former IndyMac Bank into One West Bank. 

  Here is my issue with Obama, to date I do not believe One West Bank has even done 10 loan modifications.  In my opinion they are the most difficult bank to work with and they offer their customers little if any options to deal with past due mortgages.  So how can Obama come out with his public shamming of the big banks and give Soros a pass?  You see it is always about the money.  If the big banks have to pay then Soros has to pay and until then here we are.  This is why I hate big Government.  I am just one guy on the inside of the industry and yes I am not in their meets but come on.  I am not a cop nor do I need confession to see the problem.

  It is time for the people to start calling on your repisentivies to get things moving.  These people do not understand the pressures that the average person deals with.  Look Peloesi flies around in a 757 airplane with only seven people on it.  I still can not see how this “Green Person” can justify this but yet it happens.  These people represent us, the American People.  If we sit by and do nothing then we deserve to get what we get.  It is time to make your voice be heard.  Do you know what district you are in?  If not find out and tell them what you think.  Below is a list of the Congress Representative with links to their web pages.     


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