“A revised Democratic proposal unveiled Monday by Sen. Bob Casey, D-Pennsylvania, contains a reduced version of the millionaires tax, down to 1.9% from the original 3.25%, and calls for it to expire after 10 years, according to a statement by the senator.
In addition to revenue from this “millionaire’s surtax,” the new proposal would be paid for by increasing fees that Fannie Mae and Freddie Mac charge mortgage lenders to guarantee repayment of new mortgage loans, Casey’s statement said.
”
Obama channels Roosevelt’s ‘New Nationalism’ - CNN.com
So Let me get this straight. Is the idea that we are building into the system the idea that it is the government’s job to provide large bailouts? ‘Cause that’s what it sounds like to me!
Here’s an idea: If we are going to nationalize the failures of the banking system, let’s nationalize the success as well so the government profits when the banks do well. (note: comment may include snark.)
