1. I may be missing something, but if the banks will be levied in future to recover any losses in the loans, how will our children be still paying for it?

  2. if we underpay they will fight the levy and end up not paying, that instead will be paid via the taxpayer. it happened before, the 100m p.a. ‘bank levy’ was abolished in 2004 and they set up a seed capital fund in its place.

    the other reason our kids will be paying for it is that the structural deficit will not be solved any time soon, our tax take v.s. our tax requirement to run the country in its present state don’t match up, the only answer is cut spending and increased taxes, that is not likely to change any time soon and I would feel that the kids growing up today will enter into a taxation environment where the foundation of it was set due to the errors being made in the here and now.

    there are two sides to the point i was making – one is on NAMA the other is on the state spending the ‘bill of it all’ includes the lack of foresight with the fiscal budget planning.

    anyway, hope that answers it for ya, i’m glad you came by and left a comment! come back again soon! and i must ask: where are the pictures on your site from? cool shots.


  3. The photos are from Chicago in May.

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