Tax Cuts, Tax Breaks and Bailouts still not enough for Big Business

It was only about time before big business would begin to show their true colors.  They cried foul and begged for help form taxpayers in order to receive a bailout.  They bought favors to get those enormous tax breaks and cuts in 2003 and their incomes skyrocketed after they fired workers and downsized, yet still they want more so now they claim that the new regulations has forced them to downsize again and raise fees on debt cards.

According to an article by Eileen AJ Connelly and Dave Carpenter of the Associated Press titled Bank of America debit fee is only the latest, Angela Malerba, who works in public relations in Boston, carries a debit card because she likes to know when she buys something that she has enough in her account to pay for it. But paying $5 a month to use her own money? That's too much.  So when Bank of America starts charging the fee next year, Malerba figures she'll rely more heavily on her credit card. Or, in a strategy that seems almost quaint in these swipe-and-go times, she may just carry more cash.  "Paying $60 a year in debit card fees just seems absurd," she says.  The 38.7 million people who carry Bank of America debit cards will face a similar decision in the latest example of banks raising fees or establishing new ones -- not just for debit cards but for visiting ATMs or talking to a teller.”

For some this may mean closing their Bank of America accounts and finding another bank that may not have a charge on this card, my guess is that they will have a harder time because the businesses are possibly engaged in a conspiracy which means they all will be charging a fee.  There used to be an anti-trust statue on the books which prohibited this practice but since Phil Gramm and the others in congress and the White House, worked so hard to get regulations relaxed, I am not sure if this is any longer the case.  I do now understand better why so many of these same caring Americans are fighting so hard and paying big bucks to keep the Dodd-Frank bill form being funded and instituted.  Thank you Scott Brown.