Bank taxes should bring 90 billion USD for the economy of USA
Thursday, January 14th, 2010
The U.S. president Barack Obama plans to impose a special tax 50 of the largest banks and financial companies in the country over the next decade, cited by New York Times. Thus the administration of President hopes to attract 90 billion dollars, which could offset any losses to taxpayers from the rescue of the financial sector. This tax will be charged for all banks, insurance companies and brokerage houses with assets exceeding $ 50 billion. He is expected to come into force after 30 June this year and bring at least 90 billion dollars of tax revenue for the next ten years. It said a senior official in the administration of Barack Obama, which does not wish to remain anonymous. He stated further that the tax may remain in force for a longer period in the event that any losses from the program for relief from the problem of financial assets not covered in the meantime. According to government estimates the program worth $ 700 billion will likely bring a loss of 117 billion dollars, this is much better than previous estimates. According to State Administration introducing such a tax would ensure that large financial institutions that are the biggest culprits for the financial crisis and the biggest beneficiaries of the measures the government will take responsibility to ensure that all costs incurred by the funds taxpayers will recover completely.
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