These taxes will be of about $90.000, will cover loses from the car and insurance industries, and the aid plan to the real state market. It is true that banks got benefit from the actuations of the government to handle the financial crisis, and some must pay for it. It’s probable that Although Obama said no way, the customers of the banks will end being the payers.

The ”responsibility tax” will generate a big debate and will possibly be modified before being promulgated. But under its current form, that affects the capitals except the Tier1 and domestic deposits, the fiscal structure is unfavorable for brokers, due to its big dependence to wholesaler financing and entities like Citygroup, that have a wide basis of non assured deposits abroad.

With this new tax, the government will charge the entities by 0.15% of total assets less the higher quality assets. In this calculation, won’t be added a

ssets that are already covered by the Warranty Fund.

Reaction to the new tax of the government

Morgan Stanley estimates the yearly impact of the government’s new tax in between 2% and 7% from yearly profits, before provisions, from the big American Banks on the thir

d quarter. This sum seems affordable but the longevity of the Tax and the absence of previous situations like this, is disturbing. The delegate councilor of JP Morgan Chase, Jamie Dimon, states that the United States could suffer a new crisis during the 10 years of this tax.

Government penalizations like this could affect the credit spread. If the tax is calculated on a continued basis, the incentives to reduce budgets, and compete with more energy for American Deposits,increases.

Some European entities will be affected by this new tax, and some European Governments reacted to it. Angela Merkel, the German Cancillerin, showed on Thursday his preference for a tax on financial transactions (Tobin tax), while the United Kingdom pointed that the probl

ems of the United Stated are an issue for its government not for the others.

France pointed that a taxes on bonuses paid to bankers is the most efficient answer. In Spain, the party ”Izquierda Unida” encouraged the government a sp

ecial tax to Banks in order to finance ‘active initiatives for the job generation.

According the newspaper ‘Der Spiegel’, the department estimates that, given the level of German National Debt, the beginning of tax reductions should be postponed by a year or two.

In his coalition agreement, christian-democraths (CDU), liberals)FDP) and bavarian socialchristians (CSU) accorded in October a wide fiscal reformation aimed to reduce the tax charge by €24000 million yearly, beginning from 2011. Those plans have been considered impossible because of several economic reasons.

The last January 1st came into account the first law of fiscal reduction in the second legislature of Merkel, that with the title of Law for the Growth Acceleration and a volume of €8400 million, wants to boost the consumption of families and the growth of small companies.

Among other measures, the law regards increase deductions for families with sons from the current €6024 to €7008, independently from the income level of the contributors.

Furthermore, is planning to increase the subsides per soon by €24/month to 184, to 190 to the third, and until 215 for the fourth.

Also is considering improvements in the successions tax. Corporate inheritances to brothers and cousins, will receive a fiscal consideration similar as if they were sons.

The catering will receive the benefits of the reduced VAT and will only pay 7% instead of 19%