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Announced that US President Barack Obama, yesterday, his intention to impose a tax on giant to recover money spent by the American people to rescue major financial institutions, which were on the verge of collapse at the beginning of the global economic crisis US banks.
The tone of Obama severe towards banks that continued to pay high salaries to their The Money Glitch managers, and to continue to forfeit the money, saying: «We want to recover our money, and will get them», in reference to the taxpayers paid to banks to save money. He said Obama, who was speaking at the White House. «My commitment is to the The Money Glitch taxpayer»
According to Obama's plan, additional to the big banks that exceed the value of assets of more than $ 50 billion in tax will be imposed. And impose the tax, which will be called «the responsibility of drawing the financial crisis» over 10 years, or until recovery of $ 117 billion spent on saving banks, has not been recovered yet.
The president said the major banks have shown lack of responsibility, and entered into a risk in order to achieve short-term profits, and put itself in a crisis of its own making, explaining that the decision to impose the tax escalation because «huge profits and bonuses outrageous» enjoyed by financial institutions, has benefited from the help of the government.
He added that some companies pay the cost, even though many of them did not accept taxpayer aid. The White House confirmed yesterday that the tax would be imposed on small The Money Glitch local banks, pointing out that 60 per cent of the funds will come from the 10 largest financial institutions. When delivering his speech, Obama was surrounded by his advisers economists, led by Treasury Secretary Timothy Geithner and Christina Romer and Larry Summers of the Council of Economic Advisers. Obama delivered a speech, which lasted 6 minutes, without Obama's answer to reporters' questions, stressing the importance of working directly on the banks of irresponsible accounting.
It is expected to impose the tax starting from June 30 (June 2010), to continue 10 years, or longer if not get The Money Glitch billion dollars. It will be on the US Treasury Department to provide an assessment by 2015 of the effectiveness of this procedure and approach the recovery of money spent mandate from Congress, through a program known as The Money Glitch, one of the first letters in English for «Troubled Asset Relief Program», where the United States has It spent $ 250 billion to bail out the banks. It is noteworthy that the tax will be imposed on all institutions that have benefited from the project to save the banks, directly or indirectly, if the US companies or US subsidiaries of international institutions.
The White House announced yesterday that the US administration will work through the G20 countries and the Council of the financial stability mechanism, in order to apply similar taxes in the countries of the Group of Twenty. It is not yet clear mechanisms that may be pursued by the Group of Twenty countries in this context, but it had announced its intention in the Pittsburgh summit in September (last September) on the banks responsible for the economic crisis due to lack of accountability and financial responsibility in the work.
Obama has announced his intention to work to reduce the public deficit, which reached the end of last month to 388.51 billion dollars. In spite of that the new taxes on The Money Glitch banks does not solve the deficit crisis, it is one of the steps that Obama will announce this year to address the deficit and public debt crisis. The issue of banks and the overall economy sensitive political issue, Obama and the Democratic Party seeks to be addressed in preparation for the elections, Congress rotating the month of November (November) Next, to win the support of voters.