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Thursday, January 14, 2010

Money-Making Scheme

The president has come up with a money-making scheme that even the brightest Mafia loansharks never conceived.

Late last year and early this year, the government (taxpayers) loaned money to banks under TARP. Many of those banks have repaid the money with interest and before it was due. The government (taxpayers) also loaned money to and bailed out the auto companies.

The president today took time away from the armtwisting for votes for healthcare to come up with this latest scheme. ALL of the largest banks, whether or not they took TARP money, are going to receive a special tax, even if the recipients of the TARP money repaid the loan. However, the auto companies who were bailed out and received loans will not be taxed. Could that be because the unions of those companies gave the president their full support for his election?

Even though the loans were repaid with interest and this tax will go to the government, I doubt if the taxpayers will ever see any of this money again. The president will probably give it to some of his other supporters.

Something just doesn't seem right about that.

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