rushmc 23 #1 August 3, 2009 If he gets this done, the economy will be in the crapper for many more years than it needed to be. The "stimulus" has kept us there longer already. http://blogs.abcnews.com/george/2009/08/geithner-wont-rule-out-new-taxes-for-middle-class.html ***Geithner Won’t Rule Out New Taxes for Middle Class August 02, 2009 8:02 AM PrintRSSE-mailShare this story with friendsFacebookRedditTwitterStumbleUponMoreTo get the economy back on track, will President Barack Obama have to break his pledge not to raise taxes on 95 percent of Americans? In a “This Week” exclusive, Treasury Secretary Tim Geithner told me, "We’re going to have to do what’s necessary.” Geithner was clear that he believes a key component of economic recovery is deficit reduction. When I gave him several opportunities to rule out a middle class tax hike, he wouldn’t do it. “We have to bring these deficits down very dramatically,” Geithner told me. “And that’s going to require some very hard choices.” “We will not get this economy back on track, recovery will be not strong and sustained, unless we convince the American people that we are going to have the will to bring these deficits down once recovery is firmly established,” he said. While Geithner told me, “There are signs the recession is easing,” he warned that, “We have a ways to go.” “I want to emphasize the basic reality that unemployment is very high in this country,” the secretary said. But, he underlined that the administration is “going to do what is necessary to bring growth back on track.” Turning to the bank bailout, he told me it is “quite unlikely” that the U.S. Treasury will go back to Congress to ask for more funding for the financial rescue package. "We do not plan to ask for more money and I think it’s quite unlikely that we do," Geithner said in his most blunt language to date on TARP funding. The secretary said that today the TARP has roughly $130 billion, in part due to more than $70 billion that has already come back into the government. Geithner also strongly endorsed legislation currently pending in the House that would increase the power of the SEC and give shareholders more rights to vote on executive compensation. He insisted that Republican criticism that the government is overly involved in the financial system is unfounded. "Everybody understands that we cannot have our financial system go back to the practices that brought this economy to the brink of collapse," he told me. "It is going to take fundamental reform." Click HERE http://abcnews.go.com/ThisWeek/Politics/story?id=8232342&page=1 for the full transcript of my interview. What many of you dont understand is everything that is currently happening was predicted and fortold. Exactly what, and why."America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
Gawain 0 #2 August 3, 2009 Darn it, you beat me to it...I was going to use the title: "And now, Another Flip-flop..." ...taxes to go up. Who didn't see this coming? The m**h*r f**k*rs! http://news.yahoo.com/s/ap/20090803/ap_on_go_ca_st_pe/us_economy;_ylt=Ambi7I1.4D.ugrXs40lkIHOs0NUE;_ylu=X3oDMTJzODYxMWtzBGFzc2V0A2FwLzIwMDkwODAzL3VzX2Vjb25vbXkEY3BvcwM4BHBvcwM1BHB0A2hvbWVfY29rZQRzZWMDeW5faGVhZGxpbmVfbGlzdARzbGsDMm9iYW1hb2ZmaWNp BOHICA... So I try and I scream and I beg and I sigh Just to prove I'm alive, and it's alright 'Cause tonight there's a way I'll make light of my treacherous life Make light! Quote Share this post Link to post Share on other sites
rushmc 23 #3 August 3, 2009 Quote Darn it, you beat me to it...I was going to use the title: "And now, Another Flip-flop..." ...taxes to go up. Who didn't see this coming? The m**h*r f**k*rs! http://news.yahoo.com/s/ap/20090803/ap_on_go_ca_st_pe/us_economy;_ylt=Ambi7I1.4D.ugrXs40lkIHOs0NUE;_ylu=X3oDMTJzODYxMWtzBGFzc2V0A2FwLzIwMDkwODAzL3VzX2Vjb25vbXkEY3BvcwM4BHBvcwM1BHB0A2hvbWVfY29rZQRzZWMDeW5faGVhZGxpbmVfbGlzdARzbGsDMm9iYW1hb2ZmaWNp BOHICA... Are there any promises he has kept?"America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
Rookie120 0 #4 August 3, 2009 Quote Are there any promises he has kept? Spread the wealth?If you find yourself in a fair fight, your tactics suck! Quote Share this post Link to post Share on other sites
rushmc 23 #5 August 3, 2009 Quote Quote Are there any promises he has kept? Spread the wealth? Damn man, that point is way too sharp."America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
TheAnvil 0 #6 August 3, 2009 Anybody with a three digit IQ should have seen this coming. Dis-fucking-gusting. [barf]Vinny the Anvil Post Traumatic Didn't Make The Lakers Syndrome is REAL JACKASS POWER!!!!!! Quote Share this post Link to post Share on other sites
futuredivot 0 #7 August 3, 2009 QuoteSpread the wealth? Which really means "Eliminate the wealth. Spread the dependency."You are only as strong as the prey you devour Quote Share this post Link to post Share on other sites
Rookie120 0 #8 August 3, 2009 QuoteWhich really means "Eliminate the wealth. Spread the dependency." I am far from wealthy but if they keep taking more from my check I might end up as a dependent. I cannot afford much more.If you find yourself in a fair fight, your tactics suck! Quote Share this post Link to post Share on other sites
kelpdiver 2 #9 August 3, 2009 Quote Geithner was clear that he believes a key component of economic recovery is deficit reduction. When I gave him several opportunities to rule out a middle class tax hike, he wouldn’t do it. Sounds like what happened with Bush Sr. He did what he could to avoid it, and still had to do it, and yet his pledge was even more clear: "read my lips, no new taxes." All you got here is a refusal to make a similar pledge. Quote Share this post Link to post Share on other sites
rushmc 23 #10 August 3, 2009 QuoteQuote Geithner was clear that he believes a key component of economic recovery is deficit reduction. When I gave him several opportunities to rule out a middle class tax hike, he wouldn’t do it. Sounds like what happened with Bush Sr. He did what he could to avoid it, and still had to do it, and yet his pledge was even more clear: "read my lips, no new taxes." All you got here is a refusal to make a similar pledge. Yes indeed, and his ass got voted out of office, as it should have. But, that is what happens when you make deals with the devil."America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
Gawain 0 #11 August 3, 2009 QuoteQuote Geithner was clear that he believes a key component of economic recovery is deficit reduction. When I gave him several opportunities to rule out a middle class tax hike, he wouldn’t do it. Sounds like what happened with Bush Sr. He did what he could to avoid it, and still had to do it, and yet his pledge was even more clear: "read my lips, no new taxes." All you got here is a refusal to make a similar pledge. President G.H.W. Bush signed the bill to avoid a government shut-down. He chose not to stand up to Congress (God only knows why). He tried to apologize on TV, it didn't hold water. The public would've much rather seen the leader of Desert Storm veto, shut-down government and then get on TV stating that he was standing by his "Read my lips" promise.So I try and I scream and I beg and I sigh Just to prove I'm alive, and it's alright 'Cause tonight there's a way I'll make light of my treacherous life Make light! Quote Share this post Link to post Share on other sites
TomAiello 26 #12 August 3, 2009 I think the interesting part here is that the Obama team obviously had a plan to try to break this promise in a politically savvy way. Rather than tie the tax increases to the massive spending which requires it, they do the massive spending on borrowed money, and then they have to raise taxes to reduce the deficit. It's a clever spin, actually, because you'll get to hear a lot of: "GOP come lately to fiscal responsibility! What, you want debt? Don't you care about the deficit?" Basically, while borrowing and spending the country into a generation of financial servitude to the Chinese, the administration is also trying to portray themselves as fiscally responsible, and the "obstructionist" opposition party as fiscally irresponsible. I'm curious to see how it plays with the voters. It's an obvious sham (which hasn't stopped such things from working on the public before), but they do have the personal magnetism of Obama working on their side to sell it. Oh, and remember, you heard it here first--how long after the tax increases are proposed will it be before the opposition is labelled as fiscally irresponsible for opposing them? I give it less than a week from the time of proposal to the first attack on that grounds. But heck, it could be within the same paragraph of the first announcement--preemptive blame shifting is one of the fortés of this administration.-- Tom Aiello Tom@SnakeRiverBASE.com SnakeRiverBASE.com Quote Share this post Link to post Share on other sites
mnealtx 0 #13 August 3, 2009 Quotebefore the opposition is labelled as fiscally irresponsible for opposing them? They've been doing that since Porkulus hit committee, so no news there...Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
kallend 2,106 #14 August 3, 2009 Quote The public would've much rather seen the leader of Desert Storm veto, shut-down government and then get on TV stating that he was standing by his "Read my lips" promise. How do you know this?... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
kallend 2,106 #15 August 3, 2009 Quote Oh, and remember, you heard it here first--how long after the tax increases are proposed will it be before the opposition is labelled as fiscally irresponsible for opposing them? You give yourself too much credit. You are not first by a long long way.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
Ron 10 #16 August 3, 2009 Anyone surprised? Obama repeatedly pledged "you will not see any of your taxes increase one single dime." Cap and Trade they have admitted will increase your costs. Tobacco Tax was raised....Ect. I thought this quote was slick.... "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 health care reform," Summers said Obama's health care plan needs funding from somewhere. Very slick to tie an increase in taxes to healthcare. I think raising taxes is one thing that can be done.... I don't like it, but to balance a budget you need to cut expenses and increase revenue. You can't raise expenses and lower revenue and expect to get out of debt."No free man shall ever be debarred the use of arms." -- Thomas Jefferson, Thomas Jefferson Papers, 334 Quote Share this post Link to post Share on other sites
kallend 2,106 #17 August 3, 2009 Quote You can't raise expenses and lower revenue and expect to get out of debt. True - Reagan and GWB proved that.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
Ron 10 #18 August 3, 2009 QuoteTrue - Reagan and GWB proved that. And Carter and now Obama it seems."No free man shall ever be debarred the use of arms." -- Thomas Jefferson, Thomas Jefferson Papers, 334 Quote Share this post Link to post Share on other sites
StreetScooby 5 #19 August 3, 2009 Quote And the path to that is through health care reform," Unadulterated bullshit...We are all engines of karma Quote Share this post Link to post Share on other sites
BDashe 0 #20 August 3, 2009 QuoteQuote Geithner was clear that he believes a key component of economic recovery is deficit reduction. When I gave him several opportunities to rule out a middle class tax hike, he wouldn’t do it. Sounds like what happened with Bush Sr. He did what he could to avoid it, and still had to do it, and yet his pledge was even more clear: "read my lips, no new taxes." All you got here is a refusal to make a similar pledge. From unbreakable O, close enough to a similar pledge to me- "If you are not in the top 5% of income earners in this country, you will NOT see any of your taxes increase one single dime..." F*cking standard politics as usual, we all called it, you all refused to admit it. Unfortunately despite YEARS of repeated broken promises (admittedly from both sides) the idiot american public actually believes the guy. Smaller government = fewer promises to be broken. As an aside, even if his proposed tax plan went on as promised, still bullsh*t to raise taxes for anyone IMO, but i digress.So there I was... Making friends and playing nice since 1983 Quote Share this post Link to post Share on other sites
TomAiello 26 #21 August 3, 2009 QuoteQuote The public would've much rather seen the leader of Desert Storm veto, shut-down government and then get on TV stating that he was standing by his "Read my lips" promise. How do you know this? I'm guessing it's a deduction based on the way the public punished him in the next election.-- Tom Aiello Tom@SnakeRiverBASE.com SnakeRiverBASE.com Quote Share this post Link to post Share on other sites
TomAiello 26 #22 August 3, 2009 QuoteQuote You can't raise expenses and lower revenue and expect to get out of debt. True - Reagan and GWB proved that. To be fair, every President and every Congress in the last 30 years has done that.-- Tom Aiello Tom@SnakeRiverBASE.com SnakeRiverBASE.com Quote Share this post Link to post Share on other sites
rushmc 23 #23 August 3, 2009 QuoteAnyone surprised? Obama repeatedly pledged "you will not see any of your taxes increase one single dime." Cap and Trade they have admitted will increase your costs. Tobacco Tax was raised....Ect. I thought this quote was slick.... "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 health care reform," Summers said Obama's health care plan needs funding from somewhere. Very slick to tie an increase in taxes to healthcare. I think raising taxes is one thing that can be done.... I don't like it, but to balance a budget you need to cut expenses and increase revenue. You can't raise expenses and lower revenue and expect to get out of debt. Seems they are back tracking fast on this trial balloon huh http://www.foxnews.com/politics/2009/08/03/white-house-obama-committed-shielding-middle-class-tax-hike/"America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
kelpdiver 2 #24 August 3, 2009 QuoteQuoteTrue - Reagan and GWB proved that. And Carter and now Obama it seems. If all recent Presidents ran the budget like Carter, we'd be pretty happy campers in regards to the debt. Might be unhappy about other things, but he did not run excessive ink. Quote Share this post Link to post Share on other sites
TomAiello 26 #25 August 3, 2009 QuoteIf all recent Presidents ran the budget like Carter, we'd be pretty happy campers in regards to the debt. Might be unhappy about other things, but he did not run excessive ink. Yep. Aside from FDR, deficit spending was a creation of Reagan. But it was so politically successful (who's not going to vote for getting "free" stuff?) that now it seems like everyone is doing it.-- Tom Aiello Tom@SnakeRiverBASE.com SnakeRiverBASE.com Quote Share this post Link to post Share on other sites
