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Home Publications Blogs Beat the Press Good Article in the WSJ on Bank Concentration

Good Article in the WSJ on Bank Concentration

Tuesday, 20 July 2010 06:56
Too bad that they couldn't run it before the financial reform bill was approved.
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written by izzatzo, July 20, 2010 8:26
The only reason there's high bank concentration is due to stupid liberals and their government regulations, especially the flat tax on banks.

Stupid liberals imposed a flat per-bank tax on each bank in order to reduce progressive taxes that take proportionately more from higher income, in a compromise with stupid conservatives to jump start the economy with reduced taxes.

Banks realized that by concentrating through mergers, they could transform the flat, constant per-bank tax into a regressive, declining tax on increasing income based on fewer, larger banks.

The only thing more stupid than stupid conservatives are stupid liberals who agree with them.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.