Tax 'em till they bleed

A new title for Big Brother has welled up from what seems to be his favorite pastime: Taxer in Chief. Yes, Mr. Obama has found another opportunity to place yet another levy on the banking industry: Obama calls for bank tax as next step in reform.

Mr. Obama may or may not be aware of a fact mentioned now several times on this and other blog sites: taxes to industries are paid for by the consumers of such industries. In order to save us, the tax payers, from future financial ruin due to risky investment activity, Big Brother has proposed a tax which, ultimately, will be paid by us, the tax payers. How sweet of him.

All of this activity moves us further from the true source of risky investment activity: government intervention. Had Congress not interfered with the government entities known as Freddie Mac and Fannie Mae, creating an environment where risky investment became less risky for the actual lenders in the name of creating opportunity for the underprivileged, we would be looking at a significantly lessened recession. In fact, we would likely not have been introduced to the concept of bail outs had Mr. Obama and his congressional cohorts refrained from their typical shenanigans. Naturally, his solution to the aftermath of such government intervention is further legislation and taxation. I suppose he believes we can never have too much of a good thing. I, for one, disagree.