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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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To: GreaterSwiss

TTT (Tiny Timmy Turbo) is totally UNQUALIFIED to espouse any kind of opinion regarding taxes or the economy. He’s a joke and a bad one at that....


21 posted on 06/24/2011 11:12:12 AM PDT by lgjhn23
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To: GreaterSwiss

Long passed time for goooberment to get that "high-speed rail" they've been pushing for!

22 posted on 06/24/2011 11:19:10 AM PDT by RasterMaster (FU DUh-bama and the JACKASS you rode in on!)
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To: GreaterSwiss

The less money put into the hands of government the better. That is why I never support tax increases on anyone ever!


23 posted on 06/24/2011 11:20:15 AM PDT by KansasGirl
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To: GreaterSwiss

Whenever I hear that I always scratch my head. How do you DIG your way out of a hole? If you’re in a hole - put the shovel down! Get a ladder, maybe?


24 posted on 06/24/2011 11:39:39 AM PDT by 68stanger (If you are interested in time travel, meet me last Thursday)
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To: GreaterSwiss

So says Mr. Geithner, known tax cheat.


25 posted on 06/24/2011 12:20:47 PM PDT by a fool in paradise (Ask Barack Obama this election if he believes Jesus Christ rose from the dead and walked among men.)
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To: Dubya-M-DeesWent2SyriaStupid!

If Mrs. Obama wanted to really CARE about black people in Africa, she would highlight the shame of the CONTINUATION of hundreds of years of slavery in West Africa.


26 posted on 06/24/2011 12:23:08 PM PDT by a fool in paradise (Ask Barack Obama this election if he believes Jesus Christ rose from the dead and walked among men.)
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To: 68stanger
How do you DIG your way out of a hole?

That's exactly the same logic used when "fairness" is used as an excuse for stealing money and property from generations that haven't yet been born.

27 posted on 06/24/2011 12:25:19 PM PDT by Unrepentant VN Vet ((575 and a wakeup) Truth, I know, always resides wherever brave men still have ammunition.)
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To: P-Marlowe

Indeed it seems beyond Tax Cheat Tim’s comprehension that we might want goverment to shrink.


28 posted on 06/24/2011 12:27:27 PM PDT by Monorprise
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To: GreaterSwiss

This is a great example of the incoherent thought process that got us in 14 trillion of debt.

Bottom line; The governemnt is the parasite, business is the host. They don’t have that straight - which is incoherent. We will never get the economy fixed with this kind of incoherent thinking. People need to understand the government is a leech, literally sucking the lifeblood out of the goose that has layed golden eggs. That is why the goose is not laying golden eggs any more. It is uterly asinine to suggest the solution is to leech more blood out of the goose. I’m flabbergasted at how flat out stupid some of these elected “officials” are. Can’t even call what goes on in they’re heads “thinking”. I don’t know what it is but it is sure not what any coherent person would call “thinking”.


29 posted on 06/24/2011 12:43:00 PM PDT by dynoman (Objectivity is the essence of intelligence. - Marylin vos Savant)
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To: Cobra64

Tell the damned Tax Cheat that the government needs to shrink. It’s too damned big. Shrink, Shrink,Shrink, Shrink,say the people. Tell BHO and the DemoNazis to leave the USA.


30 posted on 06/24/2011 1:05:14 PM PDT by KwHorn77 (Tired of the GOP being the minority party!)
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To: KwHorn77

Geeez...if this government does not shrink it will surely collapse under it’s own weight. The producers in society are getting crushed.


31 posted on 06/24/2011 1:19:40 PM PDT by CodeSlinger1
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To: GreaterSwiss

Destroy the engines of job growth to support people suckling off the public teat. Pure insanity. Any wonder unemployement is at Depression levels?


32 posted on 06/24/2011 1:39:35 PM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: GreaterSwiss

Translation: “Limits on freedom must grow so that government doesn’t shrink.”

When the government grows, freedom shrinks. When the government shrinks, freedom grows.


33 posted on 06/24/2011 2:47:33 PM PDT by RWB Patriot ("My ability is a value that must be purchased and I don't recognize anyone's need as a claim on me.")
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To: Dubya-M-DeesWent2SyriaStupid!

The time for that globetrotting crap is OVER and she better know it.


34 posted on 06/24/2011 2:58:19 PM PDT by ichabod1 (Nuts; A house divided against itself cannot stand.)
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To: GreaterSwiss

Small business is the only dependable source of jobs for Americans. We should be cutting taxes on small businesses.


35 posted on 06/24/2011 3:03:16 PM PDT by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: GreaterSwiss

When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed.


36 posted on 06/24/2011 3:32:20 PM PDT by EBH ( Whether you eat your bread or see it vanish into a looter's stomach, is an absolute.)
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To: GreaterSwiss
Geithner is an educated man.....so the ONLY option on why he would say such mind boggling stupid things to us is because MUST think we are morons in the first degree
37 posted on 06/24/2011 3:36:02 PM PDT by Popman (Obama. First Marxist to turn a five year Marxist plan into a 4 year administration.)
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To: Popman

Giethner has never worked in the private economy.

All his jobs have been govt, think tanks, or foundations.

That added to an Ivy League education produces a faulty line of reasoning.

If I was POTUS, my Treasury Sec would be the head honcho at some small bank in the Midwest that’s been in business for 150 years.


38 posted on 06/24/2011 3:40:58 PM PDT by nascarnation
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To: EBH

Good rant. Is it a quote? If so, from whom?


39 posted on 06/24/2011 3:43:19 PM PDT by NathanR (,)
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To: GreaterSwiss

What a dope. People making 50K working their butts off for a a small business have to take it in the shorts, so that government slackers can get their 100K for standing around the water cooler singing hallelujah to Obama. Sick.


40 posted on 06/24/2011 3:44:44 PM PDT by cookcounty (Would someone PLEASE give the President a calculator for his birthday???)
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To: nascarnation
I know Timmy is an over-educated nancy boy who is about as useful as teats on a bull, but still he has to know what comes out of his mouth is complete BS.

How can he with a straight face say the following:"Geithner conceded the point, but then suggested the administration’s planned tax increase on small businesses would be “good for growth.”

He's either a complete moron or he thinks we are!

41 posted on 06/24/2011 4:03:25 PM PDT by Popman (Obama. First Marxist to turn a five year Marxist plan into a 4 year administration.)
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To: GreaterSwiss

42 posted on 06/24/2011 4:12:35 PM PDT by Lmo56 (If ya wanna run with the big dawgs - ya gotta learn to piss in the tall grass ...)
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To: Popman
[Geithner's] either a complete moron or he thinks we are!

Geithner is an Ivy Leaguer (Dartmouth) -- as so many of this administration are.

I'm becoming convinced that the Ivy League specializes in moron training. And that an Ivy League phD equals idiocy.

43 posted on 06/24/2011 4:14:55 PM PDT by okie01 (THE MAINSTREAM MEDIA: Ignorance On Parade)
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To: okie01

This should be a huge red flag for any candidate or appointee:

Ivy League education + lifetime in academia / govt jobs


44 posted on 06/24/2011 4:17:57 PM PDT by nascarnation
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To: nascarnation
This should be a huge red flag for any candidate or appointee:

Ivy League education + lifetime in academia / govt jobs

Unemployable...in the real world.

45 posted on 06/24/2011 4:36:07 PM PDT by okie01 (THE MAINSTREAM MEDIA: Ignorance On Parade)
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To: tpmintx

I heard that EPA is releasing an additional 2600 pages of regulations that business must comply with.


46 posted on 06/24/2011 4:50:47 PM PDT by Blood of Tyrants (Islam is the religion of Satan and Mohammed was his minion.)
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To: okie01

Timmy needs a month at the meanest Dude Ranch we can find.


47 posted on 06/24/2011 5:59:07 PM PDT by Lets Roll NOW (Game On)
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To: GreaterSwiss

Someday they’ll be nothing left to tax but the salaries of government workers, and they’ll have to use the revenue from that tax to pay those salaries.

That ought to work out quite well. As well as any other socialist scheme in history.


48 posted on 06/24/2011 6:49:27 PM PDT by samtheman
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To: GreaterSwiss

Well I guess “Turbo Tax Whiz” beat out favorite Slow Joe Biden for the lead in the stupid contest!


49 posted on 06/24/2011 7:19:51 PM PDT by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: GreaterSwiss

Pencil neck overpaid university bubble boy prick...just one punch. Never worked an honest day in his life telling us small business owners we need to pay more taxes.

If I could...just have one...


50 posted on 06/24/2011 7:27:42 PM PDT by CincyRichieRich (Keep your head up and keep moving forward!)
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