In the article, “Why Should Taxpayers Give Big Banks $83 Billion a Year” on Bloomberg.com, the ethical question is posed as if the author has no clue that it is a false dilemma, presupposing that: one, there ought to be taxpayers and two, that if there are, the banks, chiefly five of them, ought to be recipients of any of the coerced funds. Put aside the atrocious writing on what is considered a professional trade site, the poorly-reasoned argument would not pass an 11th grade philosophy class. Well, at least it would not have 30 years ago. But times, they are a changin’.
To give you some idea of what the subsidy actually equates to, the author claims that “in one relatively thorough effort” (what does that mean anyway? Is that like a “somewhat obese” person or a partially pregnant one?) two researchers — Kenichi Ueda of the IMF and Beatrice Weder di Mauro of the University of Mainz — put the number at about 0.8 percentage point which amounts to a taxpayer subsidy of $83 billion a year. “To put the figure in perspective, it’s tantamount to the government giving the banks about 3 cents of every tax dollar collected.” And yet, somehow the talking heads have convinced YOU PEOPLE that the tax burden is a result of Mexican laborers or single parents collecting food stamps.
Further, “The top five banks — JPMorgan, Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and Goldman Sachs Group Inc. – – account for $64 billion of the total subsidy, an amount roughly equal to their typical annual profits. In other words, the banks occupying the commanding heights of the U.S. financial industry — with almost $9 trillion in assets, more than half the size of the U.S economy– would just about break even in the absence of corporate welfare. In large part, the profits they report are essentially transfers from taxpayers to their shareholders.”
HELLO!!!!!!!!!!!!! Are you catching that Mr. “I pay my taxes and am a good citizen”? No you are not! You participate in a system that quite simply is casting your pearls before swine, at best, and theft, coercion, and money laundering at worst. How can you stand yourself? If someone were to put a gun in your hand and tell you to point it at your child’s head and pull the trigger or he will rape your wife, would you do it? Or would you fight back? Say “No!” Find another solution? Die trying? Or, would you pull the trigger and then tell your wife that you were scared? That you two can always have another child? That it was in the best interest of the family? That those in “authority” told you to? If so, please kill yourself and stop sucking air from the atmosphere because your breath stinks!
YOU PEOPLE are going to get exactly what you deserve! Nothing! You will have no self-respect, no legacy to pass on to your children, no wealth, no treasure. But the Rockefeller’s, the Melon’s, the Carnegie’s, etc, will. And those who work for them, accepting pay checks that are garnered through these stolen funds. Oh wait, never mind, it’s okay. THOSE people will come buy a hotdog from you, have you clean their windows, especially after your son breaks one and your neighbor is payed to replace it. What was I thinking? It’s good for the economy! My apologies. So keep suckin’ air on your way to work all day to pay half of your wage to the master who will kindly redistribute it where it “ought” to go for the best interest of all.