Obama Officials Won't Rule Out New Taxes
Geithner and Summers said they haven't ruled out a tax hike
Two White House economic officials said Sunday that raising taxes on the middle class is still a possible option to shrink the federal deficit or pay for the proposed healthcare reform plan.
Treasury Secretary Timothy Geithner and National Economic Council Director Lawrence Summers said yesterday that they haven't ruled out a tax hike as one of the "hard choices" needed to fix the economy in the long run.
"It's never a good idea to absolutely rule things, rule things out, no matter what," Summers said.
Geithner echoed Summers's comment.
"If we want an economy that's going to grow in the future, people have to understand we have to bring those deficits down. And it's going to be difficult, hard for us to do. And the path to that is through healthcare reform," Geithner said. "We're not at the point yet where we're going to make a judgment about what it's going to take."
It's the latest test for President Barack Obama, who has vowed not to increase taxes for most Americans.
During his presidential campaign, Obama repeatedly pledged taxes would stay the same or go down for 95 percent of Americans and told his supporters that "you will not see any of your taxes increase one single dime."
A report by the Department of Commerce's Bureau of Economic Analysis, released Friday, suggested that the recession appears to be slowing down. The economy dipped only slightly in the second quarter, falling at a 1 percent annual pace, which was better than expected, the report found.
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Reader Comments
Article titled, "Obama Officials Won't Rule Out New Taxes"
Three things I saw in the article above to comment on.
First off, they say that the way to bring the economy back is though the ObamaCare Program. Do they actually think that we are all so mentally challenged that we will buy that crap? How can putting our grandchildren in debt for trillions of dollars help our economy, today or next year?!! These filthy criminals, from Mr. Obama down, deserve to be on bread & water in Leavenworth Penetentiary, doing hard labor!!
Secondly, the author says that it, meaning the possibility of new taxes for everyone, will be the latest test for President Obama who has vowed not to raise taxes for most of America. In real english, what there saying is this. Can the President be a real politician & go back on his word so soon after he's given it? We already know the answer to that one. Since Mr. Obama has already proven, several times, that he's an accomplished liar, in regards to promises that he made during his campaign.
Thirdly, every time someone uses the term "reform", in regards to ObamaCare I want to scream. Reform means to improve what we have. These Socialist swine have no idea of reforming anything, if we let them have their way. They want to start something new, to America, that could very easily destroy us!! Maybe Leavenworth is to good for filth like that.
Socialism
Muser writes, "You raise taxes on the high end."
No, this is socialism which is directly contrary to our free and democratic way of life. This is Obama's socialist "redistribution of wealth". This is anti-American.
Best possible solution is two-fold. Significant reduction of government spending and a flat retail tax.
A majority of government spending is wasteful pork barrel spending. Our fed rate of spending could be cut in half by simply eliminating pork, especially socialist entitlement programs.
A flat retail tax can easily replace our current personal income tax method and our capital gains tax method. A flat retail tax instantly eliminates unlawful tax shelters and instantly eliminates tax cheating. You buy an item, you pay a flat retail tax. No avoiding this and tax money is collected upfront.
To close, America is in an economic mess because almost all individual American families are financially irresponsible as is our state governments and our federal government. We brought this down upon ourselves. Pork barrel spending by the feds is completely out-of-control. Our current tax system is based upon socialism and is a failure.
Obama's socialism will only serve to inflict further damage upon our nation.
Okpulot Taha
Choctaw Nation
No New Taxes
The White House cleared up the Sunday talk show tax controvery today. See the latest at http://www.pardontheparody.com/?p=135
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