This whole fiasco is reprehensible, and largely unnecessary (save for the LibTards who championed risky mortgage lending). However, to suppose the banks are going to pay these fees is wrongheaded. They will surely pass these fees (costs) along to their consumers in the way of increased transaction fees and such.
NO BUSINESS PAYS TAXES. THEY ALL PASS ALONG TAX COSTS TO CONSUMERS IN THE FORM OF HIGHER PRICES.
It’s time to take back the country.
hold your breath the next time you go to a foreign atm
Take a look at this article by John Tamny re: corporate taxes:
http://www.realclearmarkets.com/articles/2009/05/the_mythology_surrounding_the.html
That is the beauty of taxing businesses! The sheeple get taxed indirectly, and most are too stupid to blame the government, while they instead blame "greedy companies trying to squeeze profits out of cat-food-eating grandmas and blind cancer orphans" when gas companies make 9 cents profits on the same amount of gas the government makes 75 cents (when you add gas taxes to all the government fees associated with land use, extraction, refining, payroll taxes, etc). That is why the business world has to fight HARD to prevent consumer-level sales tax from being hidden inside the cost of goods - politicians would like nothing more than to wrap sales taxes invisibly into consumer prices, and then ramp that sh*t up to painlessly expand the reach of federal/state largess.
The private sector is always set up as the fall guy, as in the housing bubble and burst (nevermind CRA, nevermind Fannie/Freddie, and nevermind the "great moderation" endowed by the politically-motivated policies like retarded-low interest rates enlightened actions of the federal reserve and treasury in their attempt to eat real boom growth to feed fake recessionary growth make the economy more profitable for their revolving door cronies and more stable for the benefit of incumbent politicians compassionate.
Well I would exlude small business from that statement....we can’t always afford to pass the cost on.