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Posted: 8/2/2009 6:03:39 AM EST
http://blogs.abcnews.com/george/2009/08/geithner-wont-rule-out-new-taxes-for-middle-class.html

To get the economy back on track, will President Barack Obama have to break his pledge not to raise taxes on 95 percent 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.”

“I want to emphasize the basic reality that unemployment is very high in this country,” the secretary said. But, he underlined that the administration is “going to do what is necessary to bring growth back on track.”

Turning to the bank bailout, he told me it is “quite unlikely” that the U.S. Treasury will go back to Congress to ask for more funding for the financial rescue package.

"We do not plan to ask for more money and I think it’s quite unlikely that we do," Geithner said in his most blunt language to date on TARP funding. The secretary said that today the TARP has roughly $130 billion, in part due to more than $70 billion that has already come back into the government.

Geithner also strongly endorsed legislation currently pending in the House that would increase the power of the SEC and give shareholders more rights to vote on executive compensation. He insisted that Republican criticism that the government is overly involved in the financial system is unfounded.

"Everybody understands that we cannot have our financial system go back to the practices that brought this economy to the brink of collapse," he told me. "It is going to take fundamental reform."



Link Posted: 8/2/2009 6:04:54 AM EST
[Last Edit: 8/2/2009 6:06:22 AM EST by raven]
The idiots who bought Obama's bullshit hopefully are experiencing some kind of remorse that will translate in 2010

Did these geniuses ever consider cutting spending as a way to cut the deficit?
Link Posted: 8/2/2009 6:11:20 AM EST
If they cut spending then they wouldn't be able to "redistribute the wealth" to their minions.
Link Posted: 8/2/2009 6:14:39 AM EST
Translation, hold on to your wallets!
Link Posted: 8/2/2009 6:28:46 AM EST
Maybe the republicans should rename the term TAX INCREASE to LOWER TAKE HOME PAY. Then maybe the idiots who voted this loser in could understand what it really means.
Link Posted: 8/2/2009 6:38:18 AM EST
Is this going to be the "Change" part or the "Hope" part?
Link Posted: 8/2/2009 6:38:29 AM EST
Larry Summers is on face the nation and they are setting up a tax increase.
It's coming folks, Obama has to pay for his socialist agenda.

The sheeple of America are just too stupid to see they are being conned.

It's simple, spend us into oblivion, then explain we have to bring the deficit under control and raise taxes.
It's all about more government control over your life period. The health care bill is not about health care, it's about
government control over your life.

Amerians better wake up quick.

Link Posted: 8/2/2009 6:43:41 AM EST
Give my company a tax increase... guaranteed 25 job cuts maybe more
Link Posted: 8/2/2009 6:49:10 AM EST
Good.

I want to see a MASSIVE tax increase soon.

Then I want to see the rage over it translated into voters clearing the House of Representatives in 2010.

Congress has sat there for so long that either they are responsible for the mess or they are ineffectual to fix it.

Either way, they need to GO.
Link Posted: 8/2/2009 6:53:36 AM EST
"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."

What fucking planet is this guy from (geithner). Its his and obamas policies that got us the massive deficit we have, and NOW he wants to raise taxes on the middle class. Thats a great idea you fucking loser douche hose. We are hanging on by a thread as it is, we want to give you more of our fucking money.
I got a better idea, why dont you and obama go snuggle up in a russian flag, have wild butt sex and eat a bag of shit. You mother fucking commie pig fucking bastard
Link Posted: 8/2/2009 6:54:11 AM EST
BOHICA
Link Posted: 8/2/2009 6:55:22 AM EST
Originally Posted By avenger44:
Larry Summers is on face the nation and they are setting up a tax increase.
It's coming folks, Obama has to pay for his socialist agenda.

The sheeple of America are just too stupid to see they are being conned.

It's simple, spend us into oblivion, then explain we have to bring the deficit under control and raise taxes.
It's all about more government control over your life period. The health care bill is not about health care, it's about
government control over your life.

Amerians better wake up quick.



Armenians better as well.
Link Posted: 8/2/2009 7:01:18 AM EST
As far as I'm concerned, governments should never be fat. They should be starved almost to a skeleton, with little money on hand to
spend and a legal requirement that they can't spend a penny more than they're allotted. Balanced budget amendment and constraints
in place at all times.

If the government has a shortage of money, it forces them to spend it only on what's necessary. They can make up the shortfall by
getting rid of the dead wood within government.

As far as I'm concerned, the national average tax rate shouldn't be more than five percent and it should be enough to accomplish the
essential tasks that a federal government should perform...and no more than that.


CJ
Link Posted: 8/2/2009 7:04:12 AM EST

Originally Posted By CletusRoundbelly:
Originally Posted By avenger44:
Larry Summers is on face the nation and they are setting up a tax increase.
It's coming folks, Obama has to pay for his socialist agenda.

The sheeple of America are just too stupid to see they are being conned.

It's simple, spend us into oblivion, then explain we have to bring the deficit under control and raise taxes.
It's all about more government control over your life period. The health care bill is not about health care, it's about
government control over your life.

Amerians better wake up quick.



Armenians better as well.


What if BOTH Amerians and Armenians woke up at the same time ??



5sub
Link Posted: 8/2/2009 7:04:38 AM EST
The end result is always the same, libertarianism via bankruptcy.

Crank up those deductions and deduct every penny the law allows you to. Might as well fuck em at their own game.
Link Posted: 8/2/2009 7:07:36 AM EST
[Last Edit: 8/2/2009 7:07:52 AM EST by America-first]

I hope that those idiots who placed Obama into the Oval Office aren't upset of this change of plans.
Link Posted: 8/2/2009 7:10:03 AM EST
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.


THEN WHY DON'T YOU STOP SPENDING MONEY IN TRILLION DOLLAR INCREMENTS YOU FUCKING COCKSUCKERS!!!!
Link Posted: 8/2/2009 7:11:10 AM EST
Geithner also strongly endorsed legislation currently pending in the House that would increase the power of the SEC and give shareholders more rights to vote on executive compensation.

Why.......WHY don't these people like geithner get it ?? What needs to happen/must happen is corporate boards need to be held responsible for their responsibilities. AND, the compensation committees, composed of selected board members, need to be held responsible for their responsibilities.

Enforcing/strengthening just those two areas would go a LONNNNNNNG way toward averting future corporate problems.

5sub
Link Posted: 8/2/2009 7:12:07 AM EST
all along I have said The Kenyan would raise taxes on the Middle Class, because they will be seen as rich too.

Of course it will be George Bush's fault.
Link Posted: 8/2/2009 7:15:35 AM EST
[Last Edit: 8/2/2009 7:23:22 AM EST by 5subslr5]

Originally Posted By jasonfin1128:
all along I have said The Kenyan would raise taxes on the Middle Class, because they will be seen as rich too.

Of course it will be George Bush's fault.

clinton, brush and barry o are all to blame. SHOCKINGLY, clinton stepped up and accepted some of the blame. Of course no one reported that clinton statement.

But ultimately we who are of voting age are to blame. Our votes put in the thieves and our votes keeps the thieves in power.

5sub
Link Posted: 8/2/2009 7:16:11 AM EST
Originally Posted By jasonfin1128:
all along I have said The Kenyan would raise taxes on the Middle Class, because they will be seen as rich too.

Of course it will be George Bush's fault.


ANYONE who is NOT on public assistance is "Rich", according to these corksuckers...

As far as "doing what we have to do...", does that include NOT paying our income taxes, Timmy-boy "Tax-Cheat Geitner"

I swear, the nerve of that fuqq-wad! I pray that someday he will be indicted and convicted of his crimes.

Link Posted: 8/2/2009 7:21:23 AM EST

Originally Posted By America-first:

I hope that those idiots who placed Obama into the Oval Office aren't upset of this change of plans.


I hope that those idiots who placed Obama into the Oval Office.....................

As I recall, about 95% of America's Blacks and about 74% of America's Jews voted for barry and michelle. I just don't recall seeing/hearing these two voting groups speaking out against barry. Sooooo....I would say both groups continue to be happy with their boy.....barry.

5sub
Link Posted: 8/2/2009 7:24:00 AM EST
Can't wait for this speech from Obama

President Jimmy Carter:
Good evening. On Tuesday, we Americans will have the opportunity to exercise our role as citizens in a free democracy. Yet, only a third of the eligible voters will actually cast ballots. The other two-thirds are, in a sense, very lucky. Because they do not know what's going on.

Last week, I delivered a message on inflation. Since then, the dollar has dropped in value, the stock market has sustained record losses, and the whole sow price index increased 0.9%. In other words, our economic system is screwed, blued and tatooed! We just have to face the fact that there is simply no way to fight inflation in a capitolly-intensive, highly-technological, conflict-riddled, anything-for-a-thrill world of today. That's why, tonight, I want you to try to look for in inflation, an entirely new word: Inflation is our friend.

For example, consider this: in the year 2000, if current trends continue, the average blue-collar annual wage in this country will be $568,000. Think what this inflated world of the future will mean - most Americans will be millionaires. Everyone will feel like a bigshot. Wouldn't you like to own a $4,000 suit, and smoke a $75 cigar, drive a $600,000 car? I know I would! But what about people on fixed incomes? They have always been the true victims of inflation. That's why I will present to Congress the "Inflation Maintenance Program", whereby the U.S. Treasury will make up any inflation-caused losses to direct tax rebates to the public in cash. Then you may say, "Won't that cost a lot of money? Won't that increase the deficit?" Sure it will! But so what? We'll just print more money! We have the papers, we have the mints.. I can just call up the Bureau of Engraving and say, "Hi! This is Jimmy. Roll out some of them twenties! Print up a couple thousand sheets of those Century Notes!" Sure, all these dollars will cause even more inflation, but who cares? Everyone will be a millionaire!

In my speech last week, I said that America would have to undergo an austerity program, but since this revolutionary new approach welcomes inflation, our economy will be free to grow, and we can spend, spend, spend! I believe the watchwords for the 80's should be "Let's Party!" And in that spirit, I'd like to say, "Live, from New York, it's Saturday Night!"
Link Posted: 8/2/2009 7:24:00 AM EST
Watching the Geithner interview reminded me of last year's Gerald Celente prediction of a tax revolt.

Get ready! It's coming!
Link Posted: 8/2/2009 7:26:28 AM EST

Originally Posted By cmjohnson:
As far as I'm concerned, governments should never be fat. They should be starved almost to a skeleton, with little money on hand to
spend and a legal requirement that they can't spend a penny more than they're allotted. Balanced budget amendment and constraints
in place at all times.

If the government has a shortage of money, it forces them to spend it only on what's necessary. They can make up the shortfall by
getting rid of the dead wood within government.

As far as I'm concerned, the national average tax rate shouldn't be more than five percent and it should be enough to accomplish the
essential tasks that a federal government should perform...and no more than that.


CJ

I think I would like to live in that kind of world. I fear it is only going to go in the opposite direction though. Hell, our local school is asking for more tax money so we can build new schools. They have only been told no about six times already. The last time they had that issue voted down they got a building improvement levy to pass. All politicians seem to be same and just don't care when they hear no. It doesn't matter how many times they hear it either. Selective hearing comes on and they just keep doing the same song and dance until they hear applause, no matter how long it takes.
Link Posted: 8/2/2009 7:27:53 AM EST
Link Posted: 8/2/2009 7:52:03 AM EST
BUT OBAMA PROMISED HOPE AND CHANGE




I saw that as HOPE you have some Change Left when he gets done taxing our asses off

every time in my liftime, that a demoncrat has been in office the taxs raise, the services grow and useless do nothing programs are started..

50plus years of this bullshit, got to say I will be glad to be dead sooner than some..
Link Posted: 8/2/2009 8:05:25 AM EST

Originally Posted By Alacran:
Watching the Geithner interview reminded me of last year's Gerald Celente prediction of a tax revolt.

Get ready! It's coming!


I don't think a tax revolt is coming.

For the population to act, there must a defining, incendiary event.



5sub
Link Posted: 8/2/2009 8:08:06 AM EST
[Last Edit: 8/2/2009 8:09:31 AM EST by nightstalker]
I'll bet the Japanese would have loved to have known what to do to get their economy going again. More Taxes!! Who'd have thought that would do it. Men of Genius. Burning up money like a crazed Joker didn't do much so they've just got the old tried and true, "tax and spend" left.

I'm gonna have a beer.
Link Posted: 8/2/2009 8:11:20 AM EST
<Insert many CoC violations>
Link Posted: 8/2/2009 8:12:10 AM EST

Go for it Barry. It cost this guy his job.
Link Posted: 8/2/2009 8:15:50 AM EST
China will not continue to fund us if we print our way out of this,so the only answer Geithner can come up with is to scale back the grand plan(ain't gonna happen) or raise taxes.Common sense is a bitch.
Link Posted: 8/2/2009 8:17:05 AM EST
One term president....
Link Posted: 8/2/2009 8:25:11 AM EST
[Last Edit: 8/2/2009 8:31:04 AM EST by ABNAK]
Originally Posted By avenger44:
Larry Summers is on face the nation and they are setting up a tax increase.
It's coming folks, Obama has to pay for his socialist agenda.

The sheeple of America are just too stupid to see they are being conned.

It's simple, spend us into oblivion, then explain we have to bring the deficit under control and raise taxes.
It's all about more government control over your life period. The health care bill is not about health care, it's about
government control over your life.

Amerians better wake up quick.



Actually, what is it? 40-some percent of the sheeple ain't paying any taxes (if you factor in EIC) so why would they care? Think they're gonna lower that threshold? Not a chance; they'll just make the other 50-some percent pay MORE.

Also, who's surprised? I said a long time ago that just like Klinton, Obongo will come out and say "Things are worse than we thought, sorry" and hike taxes. THEY'RE FUCKING DEMOCRATS AFTER ALL!!!
Link Posted: 8/2/2009 8:32:32 AM EST
Originally Posted By muzlblast:
One term president....


Yeah, but how bad off will we be when that one term is over?

Nick

Link Posted: 8/2/2009 8:32:34 AM EST
If you think a yax increse from the feds is badjust wait untill the states start trying to pay the bills. The income to the states is way down since the recession/depression started. The state increases to cover this will make the feds increase look like a walk in the park.
Link Posted: 8/2/2009 8:35:10 AM EST
[Last Edit: 8/2/2009 8:35:23 AM EST by MTUSA]
Why don't these assholes do what is right, not what is necessary
Link Posted: 8/2/2009 8:36:13 AM EST
Originally Posted By Mikebiker:
If you think a yax increse from the feds is badjust wait untill the states start trying to pay the bills. The income to the states is way down since the recession/depression started. The state increases to cover this will make the feds increase look like a walk in the park.



It always amazes me how when times get tight WE are expected to "tighten up". The .gov does no such thing (federal, state, or local). The .gov "standard of living", if you will, never changes. In fact, they want NEW shit and MORE of it!
Link Posted: 8/2/2009 8:43:51 AM EST

Originally Posted By MTUSA:
Why don't these assholes do what is right, not what is necessary

They are doing what they perceive to be right for their primary constituency.



5sub
Link Posted: 8/2/2009 8:46:36 AM EST

Originally Posted By Commando_Guy:
Originally Posted By muzlblast:
One term president....


Yeah, but how bad off will we be when that one term is over?

Nick


Barry is agenda driven. If he can accomplish his goals in one term, I don't know that he cares about a second term. None the less, I expect barry will win a second term.



5sub
Link Posted: 8/2/2009 8:50:22 AM EST

Originally Posted By NIGHTSTALKER_O6:
China will not continue to fund us if we print our way out of this,so the only answer Geithner can come up with is to scale back the grand plan(ain't gonna happen) or raise taxes.Common sense is a bitch.


I expect Geithner will cause more money to be printed. That will, of course drive up inflation. The .gov knows this. China knows this. The US is going to fuck China by repaying China's debt in ever decreasing (in value) US dollars.. China also knows this.

5sub
Link Posted: 8/2/2009 8:54:18 AM EST
I've said it before, if you live in anything bigger than a cardboard box under a bridge, YOU are rich and must render unto Ceasar
Link Posted: 8/2/2009 8:58:54 AM EST


When do they start issuing blue bucks and confiscating gold, silver, and other precious metals?
Link Posted: 8/2/2009 8:59:48 AM EST
Geithner..."We're going to have to do what is necessary"

Kill yourselves?
Link Posted: 8/2/2009 9:17:56 AM EST
Originally Posted By cougargnw:
I got a better idea, why dont you and obama go snuggle up in a russian flag, have wild butt sex and eat a bag of shit. You mother fucking commie pig fucking bastard


Sigline material there!
Link Posted: 8/2/2009 9:21:01 AM EST
Originally Posted By Mikebiker:
Maybe the republicans should rename the term TAX INCREASE to LOWER TAKE HOME PAY. Then maybe the idiots who voted this loser in could understand what it really means.


Not bad.
Link Posted: 8/2/2009 9:42:58 AM EST
Originally Posted By 5subslr5:

Originally Posted By NIGHTSTALKER_O6:
China will not continue to fund us if we print our way out of this,so the only answer Geithner can come up with is to scale back the grand plan(ain't gonna happen) or raise taxes.Common sense is a bitch.


I expect Geithner will cause more money to be printed. That will, of course drive up inflation. The .gov knows this. China knows this. The US is going to fuck China by repaying China's debt in ever decreasing (in value) US dollars.. China also knows this.





5sub


China can fuck us over far worse by not buying anymore debt;we cant raise money but we print it it only fucks Chinas outstanding debt.The cost to us of them refusing to buy will isolate us.Dollar goes to shit.China will continue to edge us out in raw materials.They will buy the country then;the USA under Obama is for sale.
Link Posted: 8/2/2009 9:44:32 AM EST
[Last Edit: 8/2/2009 9:53:36 AM EST by RDak]
Yeah, sure Geithner, you think like MAYBE doing the honest thing before you get caught might be the best cure for our financial ills you crooked jacka**.

How in the heck did we EVER end up with this guy as Treasury Secretary!!?? The guy cheats on his tax return, now he is the head of the Treasury Department. I mean come on now.

I know it's old news but think about it. If a new applicant to a civil service job at the IRS had that on his/her record, they'd be laughed out of the interview.

If the person did that and was already an employee of the IRS as a civil servant, he'd be summarily fired and, quite likely, end up in prison.

Yet this crook ends up as the Treasury Secretary. And now he's advising us on how to correctly remedy our financial problems.
Link Posted: 8/2/2009 9:59:28 AM EST
Originally Posted By RDak:
Yeah, sure Geithner, you think like MAYBE doing the honest thing before you get caught might be the best cure for our financial ills you crooked jacka**.

How in the heck did we EVER end up with this guy as Treasury Secretary!!?? The guy cheats on his tax return, now he is the head of the Treasury Department. I mean come on now.

I know it's old news but think about it. If a new applicant to a civil service job at the IRS had that on his/her record, they'd be laughed out of the interview.

If the person did that and was already an employee of the IRS as a civil servant, he'd be summarily fired and, quite likely, end up in prison.

Yet this crook ends up as the Treasury Secretary. And now he's advising us on how to correctly remedy our financial problems.



You fail to realize this is the FEDERAL Government we are talking about, this IS how they do business.
Link Posted: 8/2/2009 10:05:51 AM EST
So, the Obama administration is talking about reducing the deficit while spending like crazy, including nationalizing car companies. Yeah, right.

Is anyone surprised that they are gonna tax the shit out of all of us? Did anyone here buy the bullshit about taxing only the "rich" during the campaign?

Did anyone here doubt that the "rich" was anyone not living on welfare?

Gonna be a lot of dumbasses shocked when their taxes go up and they only make $30k.

Even if it was only raising taxes on those that really are rich, that would still be wrong. They already pay a higher percentage than the rest of us.
Link Posted: 8/2/2009 10:14:13 AM EST
Originally Posted By avenger44:
Larry Summers is on face the nation and they are setting up a tax increase.
It's coming folks, Obama has to pay for his socialist agenda.

The sheeple of America are just too stupid to see they are being conned.

It's simple, spend us into oblivion, then explain we have to bring the deficit under control and raise taxes.
It's all about more government control over your life period. The health care bill is not about health care, it's about
government control over your life.

Amerians better wake up quick.



They were talking about this even during the campaign. The dems are doing a reverse of what Reagan did in the 80s. As a result of Reagan's defense build-up and Congress' unwillingness to cut spending, the debt ballooned and the dems found they had no political traction to increase spending. This time around, the dems are going to pass the spending first, and then use dire predictions of economic collapse to bully through tax increases.
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