Tim Fernholz wonders whether the only thing you can count on are bank taxes going away:
President Obama announced the tax at his political low point last January, following Democratic defeats in Virginia and New Jersey. Health-care reform and financial reform were on the ropes. The move was seen by cynical observers as a cheap play for populist political appeal. Progressives worried the relatively limited tax would have a marginal effect on the financial sector’s size or practices, but the idea emerged as a politically viable, much-needed framework for instituting a broad tax on banks.
