Skip to comments.Geithner: Taxes on ‘Small Business’ Must Rise So Government Doesn’t ‘Shrink’
Posted on 06/23/2011 7:38:28 PM PDT by Bigtigermike
(CNSNews.com) - Treasury Secretary Timothy Geithner told the House Small Business Committee on Wednesday that the Obama administration believes taxes on small business must increase so the administration does not have to shrink the overall size of government programs.
The administrations plan to raise the tax rate on small businesses is part of its plan to raise taxes on all Americans who make more than $250,000 per yearincluding businesses that file taxes the same way individuals and families do.
We're not doing it because we want to do it, we're doing it because we see no alternative to a balanced approach to reduce our fiscal deficits, said Geithner.
If you don't touch revenues and you leave in place the tax cuts for the top 2 percent that were put in place by President Bush, if you leave those in place and you're trying to bring our deficits down over time, then you have to do exceptionally deep cuts in benefits for middle-class Americans and you have to shrink the overall size of government programs, things like education, to levels that we could not accept as a country, said Geithner.
So to do a balanced approach to reduce our deficits you have to make modest changes in revenues, he said. There's no realistic opportunity to do alternatives to doing that.
(Excerpt) Read more at cnsnews.com ...
If this nation is to survive, government MUST shrink!!!
Hey Geithner, I don't give a damn whether your government survives. It is already painfully clear that you don't give a damn whether We the People survive.
The Great Oppression...double dip.
Typical Ivy moron. Clueless but dogmatic.
This administration wonders why businesses are reluctant to hire new employees. Statements like this will prevent any recovery from happening in the near future.
what “cuts”? There are never any “cuts”. How about we just stop increasing the spending? Just keep it flat. Just stop. Make ‘em stop, Mommy.
Libtards must punish the producers and achievers even if it means destroying the country.
I'm good with that, Tim ... but then, my family isn't dependent on a check from the government - either for working or just for breathing.
Here you go my friend. Enjoy
Democrats are bloodsucking jackals.
Shrink government by 80% and cut taxes!
This guy is another clueless liberal ass clown. If we dont get a SERIOUS HARD CORE CONSERVATIVE in the WH next election this country is gone .
Three years ago this nation got along fine with the govt spending 2 trillion less than it spends now.I suppose the govt just found super important reasons to spend those trillions.Why can’t one GOPer ask Geithner to explain how this nation survived with the govt spending 2 T less than it does today,just three years later.
There will be NO RECOVERY, JOBS, IMPROVEMENT until this incompetent president and his administration of thieves, thugs and goons are sent packing back to academia, community organizing, the pits of hell or wherever they came.
And the problem with government shrinking is...?
Our Ivy League elites have learned themselves stupid. It’s sad to know that flakes like Geithner have been given so much to become leaders of industry, finance and government. No wonder everything is so screwed up.
And this attitude, to make a long story short, was why guillotines were erected in France during its revolution.
Every congress critter voting against a balanced budget should be required to contribute 100% of their wealth just to show how much they support this self destructive idea.
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