Geithner won't rule out New Tax Increase

[acidhead]

http://blogs.abcnews.com/george/2009/08/ge...ddle-class.html

Sunday --August 2 2009

To get the economy back on track, will President Barack Obama have to break his pledge NOT to RAISE TAXES on 95% of Americans?

In a "This Week" exclusive, Treasury Secretary Tim Geithner told me, "We're going to have to do what's necessary."

Geithner was clear that he believes a key component of economic recovery is deficit reduction. When I gave him several opportunities to rule out a middle class

tax hike, he wouldn't do it.

"We have to bring these deficits down very dramatically," Geithner told me. "And that's going to require some very hard choices."

"We will not get this economy back on track, recovery will be not strong and sustained, unless we CONVINCE the American people that we are going to have the will

to bring these deficits down once recovery is firmly established," he said.

While Geithner told me, "There are signs the recession is easing," he WARNED that, "We have a ways to go."

--George Stephanopoulos --ABC news

*********

[acidhead]

***red flag alert***

"And that's going to require some very hard choices." --Tim Geithner

That quote about "requiring some very hard choices" has been used by Barack Obama ever since he started the Democratic Primaries last year.

*********

Obama is a very slick operator.... everything he has done is basically identical or worse than the previous President.

The guy is a complete fraud.

[Startraveler]

Not to be glib but tax increases and making hard choices would be very much the opposite of the previous president.

[questionmark]

Not to be glib but tax increases and making hard choices would be very much the opposite of the previous president.

Besides...somebody gotta pay the bill for the last 20-year party.

[acidhead]

Not to be glib but tax increases and making hard choices would be very much the opposite of the previous president.

A major tax increase would be 'worse' than the previous president.

[questionmark]

A major tax increase would be 'worse' than the previous president.

Why is it that everybody wants cops, schools, roads but nobody ever wants to pay for it?

[ninjadude]

A major tax increase would be 'worse' than the previous president.

No it wouldn't. The previous president spent for his wars while reducing taxes and keeping the war effort out of the budget, thus having no way to pay for it and CAUSING the mess we are in now.

[acidhead]

No it wouldn't. The previous president spent for his wars while reducing taxes and keeping the war effort out of the budget, thus having no way to pay for it and CAUSING the mess we are in now.

HOLD ON A SECOND!

We have been led to believe that the reason for the whole economic financial collapse was because of loose lending by Freddie and Fannie... remember?

[The Silver Thong]

A major tax increase would be 'worse' than the previous president.

So do the Americans ignore there debt or do they try to pay it down? As far as I can see Americans pay far less taxs than Canadians do. Why would it be so hard for tax payers in America to pay the equivalent of what a Canadian or a European tax payer pays. Obama will have to raise tax's and thats a fact that we all new.

[acidhead]

Why is it that everybody wants cops, schools, roads but nobody ever wants to pay for it?

Each State and the whole of the USA spend a lot of taxpayer money.

Cops, schools and roads are a given.. and within any state or countries budget to maintain when tax money is budgeted accordingly.

If a State or country cannot maintain maintenance within their borders... than either the budget is not balanced efficiently enough

or budget cutbacks are required.

Edited August 2, 2009 by acidhead

[Michelle]

So do the Americans ignore there debt or do they try to pay it down? As far as I can see Americans pay far less taxs than Canadians do. Why would it be so hard for tax payers in America to pay the equivalent of what a Canadian or a European tax payer pays. Obama will have to raise tax's and thats a fact that we all new.

Yeah, but in most places in the US the wages and the cost of living are lower.

[ninjadude]

HOLD ON A SECOND!

We have been led to believe that the reason for the whole economic financial collapse was because of loose lending by Freddie and Fannie... remember?

I have never been led to believe that..

In fact, more from the loose UNREGULATED speculation and gambling done by "investors" and "investment banks" with "Credit Default Swaps" based that lending. I blame the speculators more than the lenders. Because the lenders have a real property investment. The speculators are gambling.

And then the problem with bailing out the banks and companies is that the economy and budget were already weakened by war spending.

Edited August 2, 2009 by ninjadude

[acidhead]

So do the Americans ignore there debt or do they try to pay it down? As far as I can see Americans pay far less taxs than Canadians do. Why would it be so hard for tax payers in America to pay the equivalent of what a Canadian or a European tax payer pays. Obama will have to raise tax's and thats a fact that we all new.

America is in a recession... Americans earn less than the average Canadian... not sure about comparing Europeans...

The whole point is posting this topic was to acknowledge that Obama is about to do announce a major tax hike when he said he wasn't going to do it.

Remember how many times Johnny McCain used this question against him last October-November?

Though my guess is Obama will announce the tax increase AFTER they announce a nation wide health care plan.

Than the ball will drop after the tax hike and in 3 more years the Republicans will have the advantage over the Democrats and the baton will be passed back.

[acidhead]

I have never been led to believe that..

ha ha ha LOL thanks man .... i needed that.... im going to go get a drink.... lol

[ninjadude]

The whole point is posting this topic was to acknowledge that Obama is about to do announce a major tax hike when he said he wasn't going to do it.

Though my guess is Obama will announce the tax increase AFTER they announce a nation wide health care plan.

That would be your speculation. Remember the Republicans are the "no new taxes" folks. Obama was going to raise taxes on those making more than 250,000 per year during the campaign. This was well known and reported. So when that happens, I'm sure we'll hear lots of whining.

One Health plan going thru CONGRESS says "The House plan released a day ago is partly funded by tax increases on the wealthiest, meaning that a high-earning family with insurance may in fact find themselves paying more overall." factcheck

So I'm assuming you thought we elected a Republican? or that Obama was not going to follow thru? or that you're a rich person that will be affected by the new tax?

[acidhead]

That would be your speculation. Remember the Republicans are the "no new taxes" folks. Obama was going to raise taxes on those making more than 250,000 per year during the campaign. This was well known and reported. So when that happens, I'm sure we'll hear lots of whining.

One Health plan going thru CONGRESS says "The House plan released a day ago is partly funded by tax increases on the wealthiest, meaning that a high-earning family with insurance may in fact find themselves paying more overall." factcheck

So I'm assuming you thought we elected a Republican? or that Obama was not going to follow thru? or that you're a rich person that will be affected by the new tax?

dude,

From the interview in the OP:

To get the economy back on track, will President Barack Obama have to break his pledge NOT to RAISE TAXES on 95% of Americans?

In a "This Week" exclusive, Treasury Secretary Tim Geithner told me, "We're going to have to do what's necessary."

**********

Not just taxpayers who earn more than $250 000 per year......... but 95% of all americans.

This means everybody.

[Startraveler]

Perhaps when they actually propose doing this there will be something here to discuss.

[acidhead]

Perhaps when they actually propose doing this there will be something here to discuss.

True... though the topic is Geithner will not rule out a New Tax increase for 95% of all americans.

As i've noted... Geithner is using the same language(talking point) that Obama uses when he says, "And that's going to require some very hard choices."

My guess is the MSM will be using the same quote to 'convince' the American people to accept it..... watch and listen for it... they'll be repeating it in order to sell it to you.

[ninjadude]

True... though the topic is Geithner will not rule out a New Tax increase for 95% of all americans.

As i've noted... Geithner is using the same language(talking point) that Obama uses when he says, "And that's going to require some very hard choices."

My guess is the MSM will be using the same quote to 'convince' the American people to accept it..... watch and listen for it... they'll be repeating it in order to sell it to you.

Geitner doesn't "make" tax increases. He can lobby for one all he wants. There very well may be some hard choices. But I have yet to see anything other than what was campaigned about. Geitner saying this does not mean anything just yet or that somehow tax increases were not discussed during the campaign. Anyone who thinks the wars would be somehow financed without one is delusional.

[AROCES]

Besides...somebody gotta pay the bill for the last 20-year party.

Sure, by doubling the deficit in 6 months, right?

Edited August 3, 2009 by AROCES

[AROCES]

Why is it that everybody wants cops, schools, roads but nobody ever wants to pay for it?

We do have those and we do have funds for those.

You are talking like a politician, as if you if dont add another billion to already 100 billion all those will disappear.

Edited August 3, 2009 by AROCES

[AROCES]

dude,

From the interview in the OP:

To get the economy back on track, will President Barack Obama have to break his pledge NOT to RAISE TAXES on 95% of Americans?

In a "This Week" exclusive, Treasury Secretary Tim Geithner told me, "We're going to have to do what's necessary."

**********

Not just taxpayers who earn more than $250 000 per year......... but 95% of all americans.

This means everybody.

Quite simple, during the election what more can get you votes than saying I will tax the rich and pass on the wealth to everyone, remember that?

But now Obama is facing reality and he knows there is no money for all his promises like Health Care and if you bleed the rich too much the economy will not grow. Just ask Jimmy Carter, he will tell you.

[AROCES]

Geitner doesn't "make" tax increases. He can lobby for one all he wants. There very well may be some hard choices. But I have yet to see anything other than what was campaigned about. Geitner saying this does not mean anything just yet or that somehow tax increases were not discussed during the campaign. Anyone who thinks the wars would be somehow financed without one is delusional.

War is not a PERMANENT entitlement or funding that is forever.

[churchanddestroy]

Somebody please explain something to me.

Under what form of logic is it a good idea to take more money away from the American people when they are struggling through tough economic waters? Why should we give the government more money when they weren't responsible enough with it to begin with?

[AROCES]

Somebody please explain something to me.

Under what form of logic is it a good idea to take more money away from the American people when they are struggling through tough economic waters? Why should we give the government more money when they weren't responsible enough with it to begin with?

Got nothing to do with if it's a good idea or logic, it's all about being able to get it legally.

The government is filled by dependents, high paying jobs, best benefits and all you have to do is grab the money to fund it from someone else and say it's for the Children.

Edited August 3, 2009 by AROCES