Posted on 08/02/2009 1:47:06 PM PDT by Cheap_Hessian
WASHINGTON (AP) - President Barack Obama's treasury secretary said Sunday he cannot rule out higher taxes to help tame an exploding budget deficit, and his chief economic adviser would not dismiss raising them on middle-class Americans as part of a health care overhaul.
As the White House sought to balance campaign rhetoric with governing, officials appeared willing to extend unemployment benefits. With former Federal Reserve Chairman Alan Greenspan saying he is "pretty sure we've already seen the bottom" of the recession, Obama aides sought to defend the economic stimulus and calm a jittery public.
Treasury Secretary Timothy Geithner and National Economic Council Director Larry Summers both sidestepped questions on Obama's intentions about taxes. Geithner said the White House was not ready to rule out a tax hike to lower the federal deficit; Summers said Obama's proposed health care overhaul needs funding from somewhere.
"There is a lot that can happen over time," Summers said, adding that the administration believes "it is never a good idea to absolutely rule things out, no matter what."
During his presidential campaign, Obama repeatedly vowed "you will not see any of your taxes increase one single dime." But the simple reality remains that his ambitious overhaul of how Americans receive health care—promised without increasing the federal deficit—must be paid for.
(Excerpt) Read more at breitbart.com ...
GHW Bush lost his re-election campaign primarily for (though among many other limp-wristed reasons) his “No New Taxes” campaign platform.
I don’t know about you - but I have yet to see ANY tax relief for the middle class, as 0bama promised. Lower taxes for 95% of people (still trying to figure the math on that one).
0bama is the biggest liar to ever hold the office (Paging Richard Nixon - maybe you weren’t so bad after all...).
Ping
“.... Sunday he cannot rule out higher taxes to help tame an exploding budget deficit.”
Doctor assisted suicide, in the states of Washington and Oregon, are on sale for any politician that’s even thinking about raising taxes to pay for their thefts.
>> When he raises taxes on the middle class, he might as well announce that he is not seeking a second term.
“Watch my blue lips...”
Of course there will be tax increases on the middle class - esp on those in the 50 K to 100 K range.
I have had a running argument with coworker who says - oh no, only those making over 250 K will see their taxes go up.
Ha ha ha ha ha - sucker.
My motherboard died last night. It will be an interesting time catching up :)
I bet you can't wait to tell your coworker 'I told you so' : )
That’s an absolute guarantee, and the droolers will lap it up.
bump
Well, they are full koolaid drinkers. It will take much more to make them regret their support of Zero....but it will be a start....and some consolation for the reduced take home pay that American workers will endure....including moi.
Do not forget the 401k tax. How else will they destroy all wealth.
Indeed - I had not heard of that tax - but do not doubt it.
You can call him whatever you want. I call him Theodore( my father in law, now long gone, would never even say his name, called him Theodore, and so does my family, go figure.).FDR
was almost as toxic as BO Tox himself.
The Obama declared our economy is now booming at a pace of -1% so we can now raise taxes. And the crowd rejoices!!!!!!!!!!!!!!!
Yes, I saw that. IN addition, former Fed Chm Greenspan today says the economy has turned the corner.....ha ha ha./....though job loss will continue - but just at a slower pace.
No jobes, no recovery.
The won’t stop until we are in a full blown depression.
You should be careful expecting the economy doesn’t turn around. While this guy is killing our economic system, it is still resilient. By the end of the year, expect things to pick up and guess who will be taking the credit. The slightest bit of good news will be spun into gold for him by the media.
We should, instead, concentrate on things he can’t avoid or control, like the deficit and higher taxes.
ping.
Personally I would call this a Pyrrhic Victory since I would rather lose the bet as opposed to losing my money through increased taxes. I had the unpleasant task of reminding my aged father that his Capital Gains taxes would no longer be capped next year. He is living off the sale of long-held property and that will indeed bite hard.
OK, that is odd but I guess that I have heard odder.
As for FDR, the damage that that man did was/is close to incalculable but this was at a time when the US and the World were in the biggest peace-time crisis EVER. It is the 'big government' model that he set up that has enabled those following him to keep it growing, especially with 'eternal' government programs and intrusions.
I think that his ego drove him far beyond his intelligence and the damage he did to the US in staying past 2 terms just makes your head ache. By the Tehran Conference in 1943, he was so sickly that I think it allowed much more freedom to the Soviet Union and FDR's favorite Dictator, 'Uncle Joe' Stalin. I am truely perplexed at where I would put him in the rankings of US Presidents.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.