Posted on 07/22/2010 12:49:00 PM PDT by 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."
(Excerpt) Read more at businessinsider.com ...
That’s funny - my tax liability went down when the Bush tax cuts were enacted, and yet I don’t feel wealthy.
“...plans to let the tax cuts expire for wealthy Americans...” = raising MY taxes. And I’m far from wealthy.
Hey, Geitner, without those tax cuts there will BE NO RECOVERY.
The last thing America needs in 2011 is a 50% tax increase, yet that’s exactly what many are going to see. And then, this guy and many RATS will say ‘’Gee we didn’t know this could happen, must be Bushs’ fault.’’
Geithner is worth between $300 million and $ 600 million, of course. Is there anything as vomitous as a man with that money demanding you and I pay more taxes?
My business is slowly recovering from your 1st year in office.
I was considering hiring 2 people in a few months, but I will have to hold off on that and use that money to pay my family's higher taxes.
Please Stop your jihad on America Business!!!
-Texas Small Businessman-
Well, that good you don’t feel wealthy. In 2011 you won’t have too far to fall. By 2012, you might ‘get it’ - it takes a while for some.
Because they will ‘change’ the name from what they called it, ‘a tax cut for the rich’, now they will call it a tax cut for the ‘middle class’. Why?
Elections are coming .
WE ARE COMING FOR YOU CONGRESS.
Because after all, only rich folks got the Bush tax cuts.
I am of course using THIS administrations’ definition of “rich”, which keeps getting revised down every day.
Eventually if you are not on some form of government welfare you will be classified as “rich”.
I do not consider 170 to 370 a year to be wealthy. It’s definitely upper-middle class, but that person’s not going out to buy extravagant properties, build impressive buildings, or get rich in land speculation.
Tim Geithner is an idiot!!
Which is to say, none.
I will make sure that I flood the IRS with paperwork on every purchase that I can. I want them to feel like they're drinking out of a fire hydrant.
Don't feed the beast, CHOKE the beast with paper.
for the libs that lurk and read this, people like me studied during college and banged your girlfriend while you smoked pot, played with yourselves and talked about how great you were without doing anything.
Sad thing about the Obama economy is that if you happen to be fortunate enough to have a job, you're rich.
Stock market was up today on good tax rate news.
Stock market will crash tomorrow based on Obamanomics.
Not sure 1% GDP growth in 2011 can be considered “strong” at all...
I can see a Tax Revolt from my house!
Is the MSM finally catching on to that notion, or was this someone else realizing it?
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