Obama to Slap Fee on Banks

While they may escape the 50 percent bonus tax that some European countries are imposing, American bankers won’t receive their paychecks completely unscathed. According to Politico, the budget that President Obama unveils next month will include fees on banks to help taxpayers recoup as much as $120 billion of the bailouts. It won’t be a financial-transactions tax, and it won’t be a tax on compensation packages, since they can be easily evaded. The goal is a fee that is not easily passed along to consumers.