Argument: Bank tax will help reduce large US deficit

Issue Report: 2010 US bank tax


James Surowiecki. “The two worst arguments against the bank tax.” The New Yorker. January 15, 2010: “it’s a good proposal that will raise a significant amount of money ($117 billion over ten years is not, even by today’s standards, trivial).”

French Finance Minister Christine Lagarde said on January 15, 2010 that U.S. President Barack Obama was justified to propose a bank tax: “[U.S. banks] have dug a $117 billion hole and President Obama is justifiably saying he wants that hole plugged.”[1]