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 administration’s 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 year—including 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 ...
As it is, the government is malignant.
This Administration does NOT wonder why about anything because it’s all going according to plan - no recovery was ever intended in the first place - this is intentional sabotage and the sooner everyone understands it, the better. The Repubs are obviously in on the FIX because none of them are doing anything of substance. Even the Big “R” Talkers have no sense of urgency that our Republic is sinking and extraordinary ACTION is needed NOW. I despise the lot of them...even the new crew - what the heck is going on with them???
Seriously, manure was once used by farmers as fertilizer. Now the government uses it for brains.
Liars and damn liars. Don't you get it Timothy, you damn fool, it is over! You damn libtards have destroyed the nation and with it the world, in good time. We are living on the coast down. I hope your government folds up around you like a cheap suit and takes you with it.
Sarc/
Timmy just signaled small businesses to hunker down. Don’t hire, don’t expand, don’t prosper so as to not create taxable income.
idiot.
Oh, right, this country exists for the benefit of the government. How could the rest of us have missed that?
Good question. On energy, spending, economy, the "environment", states rights, the destruction of constitutional limits on government, the tyranny of the federal courts, you name the subject, a moderately intelligent, aggressive pubbie could beat the dims like a drum. Yet they don't do they? I had hopes for Hermin Cain and Newt. Herman b/c of his passion and Newt b/c of his intellect. But alas there doesn't seem to be enough junk yard dog in the entire male field to compete with little Michelle.
wow.
IMHO, Geithner should be in Leavenworth for tax evasion.
(Didn't he miss paying some of *his* taxes? Shouldn't the person in charge of the IRS know the laws? Isn't "ignorance of the law is no excuse" the first thing the IRS always says?)
Cheers!
Yep. Most people have no idea the violence that will come about if government at all levels isn't significantly reduced. There will come a point of no return. The blow back against the elites will be breathtaking.
The parasite class is hell bent on pushing capitalism into collapse. God help us all if they succeed.
2012 is the last chance we have to turn this Republic towards Liberty.
I saw this on video off of Drudge. I swear Timmy’s mannerisms reminded me of a lying teenage drug addict trying to explain why he needs more money. GOOD GRIEF!
Has anyone else here noticed that the newer $1,$10,and $20 bills bear his signature?
“...it’s all going according to plan - no recovery was ever intended in the first place”
I was hoping this was not true. Pretty diabolical ...and scary.
Shrink? More like dissolve. The Government insanity has to stop! It is coming down to them or us.
Timmy boy’s and his butt buddies in large corporate business love higher taxes on small business. The democrats prefer that we all work for large corporations where we can be “easily controlled” versus succeeding in our own business where we decide what is good for us ! I am sure George Soros approves this !
They should be sent to prison !
> 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.
GE pays no tax but the local barber has to pay more?.....
A progressive all ways has it backwards.
The Pharaoh also makes pronouncements: “So let it be written. So let it be done.” (The Ten Commandments 1956)
Increase taxes for the working: Is more like a mandate.
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