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It Looks Like the President's Bank Tax is Unconstitutional

The Business Insider explains:


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Comments (21)

Poor Barry. Shaping up to ... (Below threshold)
GarandFan:

Poor Barry. Shaping up to be a BAD NEWS week all around.

Hee hee!!!!

Republicans - standing up f... (Below threshold)
Steve Green:

Republicans - standing up for Big Business and screwing the little guy for decades.

You guys whine about banks being bailed out and then you stand up and fight to make sure they aren't taxed?

What good little hod carriers... I hope your masters reward you well - with more bank fees and charges probably.

I had no idea that teabaggers would roll over so easily on this issue.

FUCK YOU ASSHOLE!... (Below threshold)
GarandFan:

FUCK YOU ASSHOLE!

Why cant liberals just STFU... (Below threshold)
GianiD:

Why cant liberals just STFU, and earn their own damned living, rather than sucking off the govt teat, or trying to extort govts via 'collective bargaining' and threat of strike?

Libbies always claim to be SO SMART, but most are a combination of lazy, ignorant, selfish, and irresponsible. If you want something, earn it, otherwise do without mofo!

"Republicans - standing up ... (Below threshold)
Hank:

"Republicans - standing up for Big Business and screwing the little guy for decades."

Wrong again. Quite the habit.

Did you happen to note who Coakley met with just before her goon shoved the reporter to the ground?

Hint: It wasn't the "little guy".

Steve, salvaging the bankin... (Below threshold)
DaveD:

Steve, salvaging the banking system as it was at the time of the financial collapse was not an unreasonable thing to do. It is clear that a healthy business climate relies heavily on credit as well as the availability of liquidity. So, yes, considering the meltdown I think it was reasonable to bail out those institutions that supply credit and liquidity to the economy particularly for small and midsize business. Extorting healthy banks to partake of TARP funds and then penalizing them from doing so is unreasonable. As far as your wise crack about big business, I think you need to re-evaluate that comment. Outside of the banking sector I did not get the idea that a lot of folks here were supportive of the GM/ Chrysler bail out. Were you?

Poor Barry...poor racist st... (Below threshold)
Michael:

Poor Barry...poor racist stevie green...there little lib world is crashing down. Too funny.

Pointing out the possible u... (Below threshold)
Oyster:

Pointing out the possible unconstitutionality of an action = Republicans screw the little guy!, because to Steve, it doesn't matter whether it's legal or even why it's illegal. It's just another day and another opportunity to crap on another thread.

I hope your master goes easy on you Steve. The alligator has merely promised to eat you last.

Someone might tell Stevie t... (Below threshold)
OLDPUPPYMAX:

Someone might tell Stevie that two of his heroes--Dodd and Fwank did far more to cause any finance/banking/mortgage lending problems facing the nation than the entire republican party, but somehow I don't think it would do any good.

stevie G ...but wh... (Below threshold)
Jeff:

stevie G ...

but what about the tens of millions, that's right ten of millions, of "little guys" who work for or hold stocks in or do business with those banks ?

aren't you punishing as well them with this tax ?

why is the capitalist system so hard for liberals to understand ? its never hard for liberals to enjoy the fruits of the system thru the freedoms, products, services and the taxes paid by said system ... but they never quite get how it works ... their ignorance is simply breathtaking ...


s green "Republicans -... (Below threshold)
Marc:

s green "Republicans - standing up for Big Business and screwing the little guy for decades."

As opposed to obamacrats sticking up for Big Pharma via 80 billion dollar backroom deals, not "taxing" GM, Chrysler and both Freddies while attempting to tax banks that PAID back what they were loaned.

"What good little hod carriers... I hope your masters reward you well - with more bank fees and charges probably."

As opposed to toadys like you who apparently are not smart enough to realize whatever tax is imposed on banks will be passed on to YOU and the rest of use.

"As opposed to toadys like ... (Below threshold)
GarandFan:

"As opposed to toadys like you who apparently are not smart enough to realize whatever tax is imposed on banks will be passed on to YOU and the rest of use."

Marc - he's not smart enough to figure that out.

Little stevie green took a ... (Below threshold)
Kenny:

Little stevie green took a break from sucking cock to barf up:

Republicans - standing up for Big Business and screwing the little guy for decades. ...

Of course, little stevie, being a good little liberal, supports laws that are:
* Ex Post Facto: It penalizes actions committed before the law is passed.
* No Legit Purpose: There is legitimate non-punitive purpose for the law.
* Unavoidable: The targets cannot change their behavior to avoid the penalty.

Little stevie would be howling with outrage if a republican proposed a bill that would punish people for actions that occurred before the bill was signed into law.

Little stevie - standing up for state control of everything and trying to screw republicans, businessmen, conservatives, christians, ...

Typical leftwing hypocrisy.... (Below threshold)
Eric:

Typical leftwing hypocrisy. They complain about Bush tearing up the Constitution but are okay with violating the Constitution when it suits them.

Steve Green, Bills of Attainder are a Constitutional Protection for everyone which prevents the government from creating taxes to use as punishment. This is a tax that is specifically targeted to large banks to punish them for giving bonuses to their employees. That makes it a Bill of Attainder, therefore unconstitutional.

So go forth to your Democrat masters and get the talking points on why this isn't a Bill of Attainder just because they say so.

Steve,I'm sure wha... (Below threshold)
MarkJ:

Steve,

I'm sure what you say is absolutely correct...

...on your home planet of Neptune.

Say, how's the weather there? I hear those 700 mph winds are a bitch.

With respect to TARP, it's ... (Below threshold)

With respect to TARP, it's also worth remembering that many banks (Wells Fargo, specifically, and others) initially declined TARP money, but were essentially blackmailed by the Federal Reserve into taking it, under the threat of extensive, embarrassing, time-consuming, and costly Federal audits if they did not take the money.

So you have banks blackmailed into taking Federal money by the Fed, then punished for taking the money (even though they paid it back) by the White House, while other recipients of TARP funds who will probably never pay the money back (GM, Chrysler, Fannie Mae, Freddie Mac) get off scott-free.

Perhaps only in the bizarro world of people like Steve Green does this kind of scheme qualify as "fairness."

GrandFan "Marc - he's ... (Below threshold)
Marc:

GrandFan "Marc - he's not smart enough to figure that out."

Well then, just call me the Grand Master of Stating the Obvious.

From the article: "The noti... (Below threshold)
Les Nessman:

From the article: "The notion that the banks might be able to defeat the bank tax on constitutional grounds is risible, annoying, and enervating."

WTF?

So that darn Constitution is such a bothersome burden, I guess?

Steve GreenI am su... (Below threshold)
retired military:

Steve Green

I am sure that Senator Coakley would agree with you. Oh umm wait....

Sorry, Coakley +5, I couldn... (Below threshold)
Jeff Medcalf:

Sorry, Coakley +5, I couldn't hear you with someone else's scrotum in your mouth.

I thought Barry was a const... (Below threshold)
914:

I thought Barry was a constitutional scholar? Oh yeah, thats His daydream job!

Right about now He's longing for the pews of the wrong reverend Wright to absolve Him of His idiotic dilemna..




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