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    Congress to Mega Banks: It Was All Your Fault—Pay No Attention to the GSEs

    Last week, Chairman Dave Camp (R–MI) outlined a new reform proposal that included a punitive tax on some of the largest banks in the U.S. The Chairman should be commended for tackling the complex issue of reforming our tax system, but it’s not at all clear what imposing an arbitrary … More

    A Snake Oil Sales Pitch for President Obama's Bank Tax

    It must not be easy being Treasury Secretary Timothy Geithner, these days. His latest task is to sell a skeptical Congress on the Obama Administration’s $90 billion bank tax with something of a convoluted snake oil sales pitch. He tried to make his argument to the Senate Finance Committee on … More

    There Is Nothing Fair About Obama's Wall Street Bailout Tax

    Treasury Secretary Timothy Geithner appeared in an interview on The Today Show this morning and decried the “unfairness” of an economy where businesses on Wall Street are recovering, but where Americans still don’t have jobs. Quoth Geithner: “It’s not fair, it’s deeply unfair, and [Americans] should be angry about it.” … More

    Obama's Bank Tax - The Victim is YOU!

    So President Obama wants to slap a tax on banks, but should you really care? Absolutely. Those taxes are going to wind up costing YOU money, whether you’re a customer, a bank employee or an investor, according to the non-partisan Congressional Budget Office (CBO). As ABC News reports, the CBO … More

    In Pictures: Obama’s Bank Tax - Robbing Peter to Pay Paul

    In his State of the Union Address, President Barack Obama proposed “a modest fee” on banks that “would pay back the taxpayers who rescued them in their time of need.” In truth, his bank tax would hit financial institutions who have paid back their bailout funds, with interest, while those … More

    Obama's Bank Tax: Missing the Target

    In his State of the Union address Wednesday night, President Obama repeated his call for a tax on banks, calling it “a modest fee to pay back the taxpayers who rescued them in their time of need.” That sounds good, everyone agrees the taxpayer’s money should be paid back. But … More

    Reaction Roundup: Heritage Responds To The State Of The Union

    Heritage members and fans are discussing President Barack Obama’s State of the Unions address at Twitter and Facebook right now. And here are just some of our experts immediate reactions to parts of the speech: State of the Economy President Obama inherited a global recession and a global financial meltdown. … More