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 ...
Well, it's not like they aren't doing it on purpose. Self employed entrepreneurs give union laborers and other domesticated sheep dangerous ideas about self-determination.
Tax cheaT Timmy, the shameless shill for Goldman Sachs and the Obamatron agenda.
“Don’t feed the beast, CHOKE the beast with paper.”
What a well thought out plan! This should be the dtrategy going forward - “flood the IRS with paperwork on every purchase”.
Post of the day!!!
“Business always wants their taxes lower and always wants to live with less regulation”
I know, Timuh!, aren’t those businesses that pay your bloated salary, kickbacks, payola, etc., just a big pain in your collectivist *ss?
You slimy thug!
How about removing your boot from the necks of small business?
Better there were no tax cuts?
To tell the truth, only half of US citizens pay income taxes so ANY reduction of the income tax would be to the “wealthiest” Americans.
“People like me are viewed as the cash cow.”
You should be held up as a model example of ‘the right way to do it’.
You rock!
It is just representative of weak leadership. It would have been better to stick up for principles and get permanent cuts, even if it meant waiting and trying again later. When was the last time Dems were forces to put on expiration on tax hikes, or on expanded entitlements?
This man is insane.
Good post, but I must say...this administration is not interested in keeping the American Dream alive.
Their idea of a dream is socialism, where everyone is equally miserable.
Except, of course, The Party.
Thanks for saying so. The sobering fact is, there are a lot of people like my wife and I who played by the rules and were responsible, but now we are going to take it up the chute exactly the same as people who earned $18 an hour and purchased a $400,000 house.
I am afraid for our country. If I weren’t so well read in history, I might find myself oblivious and happier. But history does repeat itself. Sigh. I do wish (sometimes) I WERE oblivious.
What about utilizing a trust or some other type of tool(s) to minimize taxes or shelter assets?
Or, one can always stash cash.
Argh. I am just feeling pessimistic tonight. What I see ahead, shelters and cash stash, aren’t going to be useful.
I am thinking that the greenback is going to be like confederate money at the end of the Civil War, and we are going to be like the citizens of the South when it ended.
And I am a Yankee.
I guess I just don’t see how we can print trillions of dollars without facing runaway inflation.
Nobody seems to think that is much of a problem, but I do. Everyone thinks it can’t happen here.
History is full of people who had rich and prosperous lives, never wanting for anything, but they ended up stuffing paper inside their jackets to stay warm and eating things they would never have otherwise eaten whilst walking in a stream of refugees somewhere.
So many Americans think we are different, and that we can just mistreat our economy (as is now being done by this administration in a new and vigorous way) without any long term effects.
And the people we hoped would stand up are completely and totally silent.
Kind of like getting to the point where the Constitution and rule of law means nothing, and politicians simply do what is expedient to stay in power, even if it means destroying the country.
I am going up to Maine for a week soon, and it looks like a week of complete solitude. I am so pessimistic right now, I really REALLY could use that break.
Well, you’re making me want to swallow a bullet...
Hmmm...then the ‘Amero’ gets ushered in?
“Kind of like getting to the point where the Constitution and rule of law means nothing, and politicians simply do what is expedient to stay in power, even if it means destroying the country.”
Yes - the byproducts of self-serving politicians and hacks.
“I am going up to Maine for a week soon”
Poland Spring: What it means to be from Maine. Enjoy.
you mean like unemployment benefits?
Wealth has nothing to do with these tax cuts. These are income taxes - not wealth taxes. A billionaire making $100,000 a year pays the same amount of tax as a person half a million dollars in debt who makes $100,000 a year.
Yes, another failure of principle, and another failure to get any concession from the Dems.
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