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Tim Geithner Just Quashed Hopes Of A Bush Tax Cut Extension
Business Insider ^ | 07/22/2010 | Gus Lubin

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 ...


TOPICS: Breaking News; Business/Economy; Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: bushtaxcut; bushtaxcuts; congress; democrats; economy; elections; geithner; liberalfascism; middleclasstaxhike; obama; obamabreakspromises; obamalied; taxcheatparty; taxcut; taxcuts; taxes; taxhike
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To: mvpel

That’s funny - my tax liability went down when the Bush tax cuts were enacted, and yet I don’t feel wealthy.


21 posted on 07/22/2010 1:03:03 PM PDT by ZirconEncrustedTweezers (Hang in there, baby! November's comin'...)
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To: SeekAndFind

“...plans to let the tax cuts expire for wealthy Americans...” = raising MY taxes. And I’m far from wealthy.


22 posted on 07/22/2010 1:04:20 PM PDT by swain_forkbeard (Rationality may not be sufficient, but it is necessary.)
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To: SeekAndFind
"Business always wants their taxes lower and always wants to live with less regulation,"

Yea, it has something to do with being able to re-invest, expand operations and hire new people. Higher taxes and stifling regulations are natural enemies of growth, you buttmunch.

What a clueless bunch of asshats.


23 posted on 07/22/2010 1:06:00 PM PDT by reagan_fanatic (Never trust anyone who points their rear end at God while praying.)
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To: SeekAndFind

Hey, Geitner, without those tax cuts there will BE NO RECOVERY.


24 posted on 07/22/2010 1:06:17 PM PDT by madison10
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To: albie

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.’’


25 posted on 07/22/2010 1:09:23 PM PDT by Waco (From Seward to Sarah)
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To: SeekAndFind

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?


26 posted on 07/22/2010 1:16:37 PM PDT by pabianice
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To: SeekAndFind
Dear Huessien Obamah,

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-

27 posted on 07/22/2010 1:16:52 PM PDT by TexasCajun
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To: equalitybeforethelaw; All
"I seriously doubt Tim Gietner could quash a pecan without a pair of pliers. He really doesn’t hold that much sway on the Hill, even with the true believers."

Photobucket

28 posted on 07/22/2010 1:17:00 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: ZirconEncrustedTweezers

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.


29 posted on 07/22/2010 1:25:30 PM PDT by presently no screen name
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To: SeekAndFind

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.


30 posted on 07/22/2010 1:26:18 PM PDT by Freddd (CNN is down to Three Hundred Thousand viewers. But they worked for it.)
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To: SeekAndFind

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”.


31 posted on 07/22/2010 1:29:37 PM PDT by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: A_Former_Democrat

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.


32 posted on 07/22/2010 1:38:37 PM PDT by xzins (Retired Army Chaplain and proud of it. Those who truly support our troops pray for their victory!)
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To: SeekAndFind

Tim Geithner is an idiot!!


33 posted on 07/22/2010 1:40:04 PM PDT by Jim Robinson (JUST VOTE THEM OUT! teapartyexpress.org)
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To: SeekAndFind
Geitner has as much credibility as Obama does.

Which is to say, none.

34 posted on 07/22/2010 1:41:38 PM PDT by Scott from the Left Coast
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To: SeekAndFind
I'm going Galt in January. Budgeting what I need to make my "nut" and then just walking away. I've got 6 months living expenses saved, no debt and 1 kid in college on partial scholarship to a state school in town.

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.

35 posted on 07/22/2010 1:43:03 PM PDT by erman (Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy.)
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To: Secret Agent Man
I am of course using THIS administrations’ definition of “rich”, which keeps getting revised down every day.

Sad thing about the Obama economy is that if you happen to be fortunate enough to have a job, you're rich.

36 posted on 07/22/2010 1:43:22 PM PDT by Scott from the Left Coast
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To: All

Stock market was up today on good tax rate news.

Stock market will crash tomorrow based on Obamanomics.


37 posted on 07/22/2010 1:45:22 PM PDT by OldNavyVet (One trillion days, at 365 days per year, is 2,739,726,027 years ... almost 3 billion years)
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To: albie

Not sure 1% GDP growth in 2011 can be considered “strong” at all...


38 posted on 07/22/2010 1:46:07 PM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: SeekAndFind

I can see a Tax Revolt from my house!


39 posted on 07/22/2010 1:47:36 PM PDT by Hoosier-Daddy ( "It does no good to be a super power if you have to worry what the neighbors think." BuffaloJack)
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To: skimbell
I saw an article somewhere today that came right out and said that 0 wont even run in 2012

Is the MSM finally catching on to that notion, or was this someone else realizing it?

40 posted on 07/22/2010 1:49:58 PM PDT by Gondring (Paul Revere would have been flamed as a naysayer troll and told to go back to Boston.)
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