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Geithner: Taxes on ‘Small Business’ Must Rise So Government Doesn’t ‘Shrink’
CNSnews ^ | 6/23/2011 | Terence P. Jeffrey

Posted on 06/24/2011 9:42:39 AM PDT by GreaterSwiss

Geithner’s explanation of the administration's small-business tax plan came in an exchange with first-term Rep. Renee Ellmers (R.-N.C.). Ellmers, a nurse, decided to run for the U.S. House of Representatives in 2010 after she became active in the grass-roots opposition to President Barack Obama’s proposed health-care reform plan in 2009.

“Overwhelmingly, the businesses back home and across the country continue to tell us that regulation, lack of access to capital, taxation, fear of taxation, and just the overwhelming uncertainties that our businesses face is keeping them from hiring,” Ellmers told Geithner. “They just simply cannot.”

She then challenged Geithner on the administration’s tax plan.

“Looking into the future, you are supporting the idea of taxation, increasing taxes on those who make $250,000 or more. Those are our business owners,” said Ellmers.

Geithner initially responded by saying that the administration’s planned tax increase would hit “three percent of your small businesses.”

Ellmers then said: “Sixty-four percent of jobs that are created in this country are for small business.”

Geithner conceded the point, but then suggested the administration’s planned tax increase on small businesses would be “good for growth.”

“No, that's right. I agree with that,” said Geithner. “But just to put it in perspective, it's important to recognize why are we doing this. You know, our deficits are 10 percent of GDP, higher than they've been since any time in the postwar period really. We have a big hole to dig out of, and we have to figure out how to do that in a way that's balanced, good for growth, fair to people as a whole.”


TOPICS: Breaking News; Business/Economy
KEYWORDS: boughtandpaidfor; emperornoclothes; fair; geithner; shovelready; shovelteddy; shoveltimmy; shrink; shrinkage; starvethesobs; taxcheat; taxes; timmy; turbotax; turbotaxtim
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1 posted on 06/24/2011 9:42:46 AM PDT by GreaterSwiss
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To: GreaterSwiss

Government must shrink, so individual liberties can be restored.


2 posted on 06/24/2011 9:44:52 AM PDT by tpmintx (Liberalism=Envy, backed by Governmental authority. [I'm green; are you?])
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To: tpmintx

>Government must shrink, so individual liberties can be restored.

Agreed.


3 posted on 06/24/2011 9:47:28 AM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: GreaterSwiss

We are living in Bizarro World.


4 posted on 06/24/2011 9:48:00 AM PDT by P-Marlowe (LPFOKETT GAHCOEEP-w/o*)
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To: GreaterSwiss

Please Shrink, Please, Please, Please


5 posted on 06/24/2011 9:48:16 AM PDT by jdietz (God is great, beer is good and people are crazy, (which is why guns are necessary))
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To: GreaterSwiss
“Let these guys pay the taxes I don't” - Tim Geitner
6 posted on 06/24/2011 9:48:35 AM PDT by immadashell
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To: GreaterSwiss
"Geithner: Taxes on ‘Small Business’ Must Rise So Government Doesn’t ‘Shrink’ "

Hey Timmy, that's the objective. Fire all you assholes and set Americans and American enterprise free.

PS: It's interesting that you want to increase taxes, but you yourself should be in jail yourself for tax fraud.

.

7 posted on 06/24/2011 9:49:34 AM PDT by Cobra64 (Common sense isn't common anymore.)
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To: GreaterSwiss
Democrats all need to never be let into power again and the pubs better clean up their crap as well.

We are in a depression and MO goes to Africa and wastes OUR money ro promote some race thing and do this?


8 posted on 06/24/2011 9:50:37 AM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: GreaterSwiss

9 posted on 06/24/2011 9:50:48 AM PDT by KentTrappedInLiberalSeattle ("If you're not fiscally AND socially conservative, you're not conservative!" - Jim Robinson, 9-1-10)
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To: GreaterSwiss

Gee Timmy,

Looks like you failed ECON 101 when you went to college.


10 posted on 06/24/2011 9:51:05 AM PDT by roaddog727 (It's the Constitution, Stupid!)
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To: GreaterSwiss
“No, that's right. I agree with that,” said Geithner. “But just to put it in perspective, it's important to recognize why are we doing this. You know, our deficits are 10 percent of GDP, higher than they've been since any time in the postwar period really. We have a big hole to dig out of, and we have to figure out how to do that in a way that's balanced, good for growth, fair to people as a whole.”

Translation: blah, blah, blah...blah, blah..growth...fair, aack....

11 posted on 06/24/2011 9:51:54 AM PDT by subterfuge (BUILD MORE NUCLEAR POWER PLANTS NOW!!!)
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To: tpmintx

And to have that happen with smaller taxes, would be a double win.


12 posted on 06/24/2011 9:52:18 AM PDT by HiTech RedNeck (Hawk)
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To: tpmintx
Geithner exhibiting the ratchet approach to leftism - where the ratchet only goes in one direction: bigger govt.

Its corallary is the mudslim approach to "their" lands: Once mudslim, ALWAYS mudslim.

13 posted on 06/24/2011 9:52:40 AM PDT by C210N (0bama, Making the US safe for Global Marxism)
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To: Dubya-M-DeesWent2SyriaStupid!
“Not bad, but not as good as Weiner.” - Michelle
14 posted on 06/24/2011 9:53:47 AM PDT by immadashell
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To: GreaterSwiss

“When I entered the data into Turbo Tax, it said businesses will hire more people if we tax them at higher rates.”


15 posted on 06/24/2011 10:16:13 AM PDT by Erik Latranyi (Too many conservatives urge retreat when the war of politics doesn't go their way.)
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To: GreaterSwiss

Go Galt

stop funding those working against your best interests.

help shrink the out-of-control progressive government


16 posted on 06/24/2011 10:19:02 AM PDT by sten (fighting tyranny never goes out of style)
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To: GreaterSwiss

“...we have to figure out how to do that in a way that’s balanced, good for growth, fair to people as a whole.”

Mighty fair of you.

Let’s take that a step further and ask all Americans to contribute their fair share.

On Food Stamps? 10%

On section 8? 10%

On welfare? 10%

Disability? 10%

Not working? 10% of median income tax obligation under my new plan.


17 posted on 06/24/2011 10:29:07 AM PDT by Vendome ("Don't take life so seriously... You'll never live through it anyway")
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To: Vendome
Not working? 10% of median income tax obligation under my new plan.

LOL - Under my new plan, taxes for freeloading deadbeat democrat voters will necessarily skyrocket to 10%!

18 posted on 06/24/2011 10:36:23 AM PDT by meyer (We will not sit down and shut up.)
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To: tpmintx
“The king must kneel to let his kingdom rise.” - Rush (Bastille Day)
19 posted on 06/24/2011 11:05:39 AM PDT by massgopguy (I owe everything to George Bailey)
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To: tpmintx

You got that right...but we’re peons. They know much better and we should never expect their empire to get cut or eliminated. They have no problems at all burdening everyone else but themselves.


20 posted on 06/24/2011 11:11:23 AM PDT by WKUHilltopper (Fix bayonets!)
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