President Obama is considering a tax to recover as much as $120 billion in bailout money from the financial institutions that were rescued by the government.
The proposal is getting early support from some Democrats, though bankers have objected to it. New York Times financial columnist Andrew Ross Sorkin told GMA this morning that bankers are blindsided by the proposal, and he expects that the banks will fight it.
This announcement comes as banks report record profits and begin paying out huge bonuses, sparking anger amongst Americans, many of whom are still out of work.
Our question to you today: Should the government tax bailed-out banks to recover TARP money? Comment below to weigh in.