Since his recent talking point conflating resolution authority with a "bailout" didn't seem to work out so well, Frank Luntz has a new talking point f
Since his recent talking point conflating resolution authority with a "bailout" didn't seem to work out so well, Frank Luntz has a new talking point for Republicans which Sean Hannity happily allows him to pass along; Chris Dodd's financial services bill is going to result in a "checkbook tax".
But here's where it gets really interesting. The Democrats supporting the current legislation have assured an anxious electorate that whatever funds are used to create whatever regulatory scheme created will come from the banks, not the taxpayers. Let me emphasize that so that even casual readers will catch it: the Democrats promise that you won't pay for their legislation, banks will.
Since when have corporations ever paid taxes, fees or penalties? Employees end up paying in the form of lower salaries and benefits. Customers end up paying in the form of higher costs.
And in this case, every account holder will be forced to pay higher fees on their checking account and savings account. That's you, my friendly reader. Can you say "checkbook tax"? I can, and I think lots of candidates will be saying it come November. Is that what you really want to do to your constituents, Senator Lincoln? Is that what you really want to explain on the campaign trail, Senator Bennett?
From the looks of the comments section over there, Luntz's latest script for the Republicans isn't going over so well. We'll see how many of them start repeating it like mindless drones in the next week or so.