Tim Geithner Just Quashed Hopes Of A Bush Tax Cut Extension

Business Insider ^ | 07/22/2010 | Gus Lubin

[SeekAndFind]

Following comments from Senate Democrats expressing willingness to extend Bush tax cuts, the White House dispatched Tim Geithner to kill the buzz.

Tim just announced Obama's plans to let the tax cuts expire for wealthy Americans in January, according to WSJ. Which is what people expected all along.

WSJ:

Mr. Geithner said there is "still some uncertainty about how strong the recovery is going to be," which may be impacting spending decisions by businesses and individuals. But he discounted that as a reason to extend the Bush-era tax cuts for top earners, saying most private forecasts show moderate economic growth and increasing public confidence in the recovery.

He also rejected concerns voiced by business groups and many Republicans that the administration's economic policies are creating uncertainty and holding back private investment. "Business always wants their taxes lower and always wants to live with less regulation," he said, adding that U.S. firms are "doing very well…competing around the world."

[rlmorel]

Thanks...:)

[GOPsterinMA]

10-4!

[thesearethetimes...]

Agreed, but he IS the messenger from “TheWhitehouse” aka, TheGreatAndPowerful “O”.

:/

[Purrcival]

Obama, spreading the misery around.

[seekthetruth]

Why would Timmy care. After all, he has not paid his back taxes from 2003 yet!

[divine_moment_of_facts]

Obama isn’t just hammering the rich.. He’s hammering ALL of us!

[divine_moment_of_facts]

A flat tax is the way to go.. and NO sales tax.

[dr_who]

Is this Geithner or his boss talking? I’m beginning to think Obama’s moving his party too far to the left for it too stay united, or people will abandon it.

[SunkenCiv]

Thanks SeekAndFind.

Dems to Extend Bush’s Middle Class Tax Cuts
Time Magazine | July 21, 2010 | Jay Newton-Small
Posted on 07/21/2010 6:04:27 PM PDT by 2ndDivisionVet
Edited on 07/21/2010 7:26:20 PM PDT by Admin Moderator
http://www.freerepublic.com/focus/f-news/2556834/posts

[patriciaruth]

Geithner is worth between $300 million and $ 600 million,

You could be worth that, too, if you were a tax cheat and a con artist.

[patriciaruth]

Summer of 2008 I was very depressed because I believed (correctly) that we were going to get President Obama and the American Dream would flush down the crapper.

I recovered (and am pretty happy now) by looking up to God and holding onto His promise of salvation and a perfect world in the life to come. I know we must walk through fire first, as Revelations has vividly expounded. But all this is history to God, because all this is due to the vanity of man.

I am in the world now and enjoying it while it lasts because my treasure is in Heaven as my Lord Jesus advised.

We must still fight evil here. We aren’t let off the hook of trying to make things better in the here and now just because we believe in the hereafter. But grab hold of the comforting hands of the Holy Spirit and let your faith rekindle and rejoice that nothing is lost but God will find it again for you and all of us.

Cheers!
Patty

[patriciaruth]

Republicans are also idiots for passing tax cuts with expiration dates.

Sorry if I'm not the first to mention that the Democrats took control of the Senate with the defection of Jeffords in 2001 and they would only let the tax cuts pass if they had an expiration date.

Since then the Reps never had 60 vote filibuster proof control of the Senate agenda and couldn't bring up making the tax cuts permanent because the Dems blocked it. The Reps tried.

[okie01]

Ask professionals or business owners who work their asses off if they thing they’re “wealthy.”

I heard the other day that approximately 2/3 of all filers in the top bracket were Sub-S corps -- i.e., small business/proprietorships.

[Wayne07]

Then they should have been forced to filibuster, and see how popular it was. There was no fight, just capitulation, and we are paying now.

Also, this was just months before 9/11. Do you think the dems would still have been blocking tax cuts after 9/11 and after the economy started to sputter? patience plus backbone would have worked.

[Rumplemeyer]

“I seriously doubt Tim Gietner could quash a pecan without a pair of pliers.”

Or find his ass using both hands.

[Slings and Arrows]

That sonic boom you just heard was investment money leaving the country.

[Mrs. Frogjerk]

Nothing helps the economy like taking more money away from people. Yeah, that's the ticket!

Either Obama and his ilk are complete idiots, or they are trying to ruin the economy on purpose. Maybe it's both.

I don't even want to know what this country of ours is going to look like by the time they are done with it? Maybe something like Somalia, who knows.