Argument: Bank tax recoups taxpayer bailout of banks

Issue Report: 2010 US bank tax


This argument is reflected in a statement made by President Obama on January 14, 2010: “We want our money back, and we are going to get it.”[1]

Jill Schlesinger. “Bank Tax, TARP Tax: Obama’s “We Want Our Money Back Fees.” Huffington Post. January 14, 2010: “The rationale behind the tax/fee is basically this: the banks took us to the edge of the abyss because of their excessive risk-taking. Only massive amounts of emergency taxpayer money saved the system from total collapse. Although many of the big banks have already repaid TARP and in doing so, the government made money on those specific investments, there will still be money lost in the plan. The fee attempts to recoup those losses over the next years.”