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Expert: Don't Waste Time With "Bank Tax"
President Obama is proposing a $90 billion tax over 10 years on the nation's largest banks, but a financial expert doesn't think the plan is a good solution.

University of Illinois finance professor Charles Kahn says the tax is bailout revenge. Kahn says instead of punishing big banks, the federal government should be regulating them.

The tax plan is based on the size of a bank, but Kahn says taxes should be based on systemic risk activities, which started the financial meltdown in the first place. Kahn also fears Congress would develop a pattern of punishing industries with taxes instead of solving the bigger issues.

(Illinois Radio Network)
01 25 10 by Newsroom
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