Why we should tax the banks

Why we should tax the banks
Chair oSean Fleming TD surrounded by some of the members of the Public Accounts Committee Photo: Sam Boal/Rollingnews.ie 

Taxing banks on profits would allow the state to generate cash from banks that it could actually use

A month ago, as Permanent TSB was preparing offload 18,000 mortgages to unregulated vulture funds, this newspaper printed a 5,000 word essay that focused heavily on the uneasy relationship between the banks, politics and the taxpayer. We argued in Bought & Sold, that the backlash about the sale was about more than just that one transaction. Instead, it was an perceived ingrained arrogance and conceit by the wider banking sector, a sector that has...

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