Geithner pushes plan to let tax cuts for wealthy expire

Geithner pushes plan to let tax cuts for wealthy expire

www.cnn.com

Washington (CNN) -- Treasury Secretary Tim Geithner says the Obama administration will push for letting tax cuts for wealthy Americans expire while extending them for the rest of the nation.

In interviews broadcast Sunday on ABC and NBC, Geithner said the administration also favors protecting businesses from having some taxes restored to higher levels.

The administration wants to "leave in place tax cuts that are very important to incent businesses to hire new employees and to invest and expand in output," Geithner said on the ABC program "This Week."

(visit the link for the full news article)

Steal a dollar from the people.

People are angry.

Then give them 10 cents in time for an election cycle and watch them rave in pure joy and bliss.

This is exactly what this is, a little tidbit to make the shrinking middle class and the poor feel better.

I agree that the rich should pay more taxes that we do in this current system.

It should however be a flat tax for everybody, like 10% or something like that.

In any case, this is just more BS from the guy who stole a Trillion dollars from the American People.

~Keeper

www.cnn.com
(visit the link for the full news article)

Tax cuts can't really be justified anymore when those that got the cuts just used it to increase their personal wealth and the rest of the country's getting shafted big time.

Interested in how and when Geithner stole a trillion dollars?

Originally posted by mythatsabigprobe
Tax cuts can't really be justified anymore when those that got the cuts just used it to increase their personal wealth and the rest of the country's getting shafted big time.

Interested in how and when Geithner stole a trillion dollars?

Him and Bernanke stole it from you with the bailouts..

~Keeper

reply to post by tothetenthpower



Can you be more specific?

Originally posted by mythatsabigprobe
reply to post by tothetenthpower

 

Can you be more specific?

Really?

The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s…

The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation…

The combined commitment has increased by 73 percent since November, when Bloomberg first estimated the funding, loans and guarantees at $7.4 trillion…

www.geldpress.com...

And a pretty chart...

money.cnn.com...

I guess it was more than 1...

ETA: A NY Times Article with more information..

www.nytimes.com...


~Keeper


[edit on 7/25/2010 by tothetenthpower]

Well that article was written April 2, 2009. Is there an article that shows Geithner's share of the loot?

reply to post by mythatsabigprobe


No no, I didn't mean HE specifically stole any money.

I was stating that he along with Bernanke and the Government STOLE that money from the American taxpayer for their rich buddies like AIG and the like.

~Keeper

Originally posted by mythatsabigprobe
reply to post by tothetenthpower

 

Can you be more specific?

Are you trying to be funny? Or do you seriously not know?

The Fed pumped trillions into GS, JPM and so on - that was tax payers money. the banks used it to pay themselves huge bonuses.

Giethner's cut if you like, is his position and his future positions, and if you were able to check his personal finances I would be underwhelmingly surprised if he isnt on a direct payment plan.

[edit on 25-7-2010 by Amagnon]

[edit on 25-7-2010 by Amagnon]

But...this will ruin the great trickle down economic effect that Bush created!

Obama and his Keynesian buddies have it all backwards...the market and corporations are always to be trusted. Not the Evil Government.

Originally posted by tothetenthpower
reply to post by mythatsabigprobe

 

No no, I didn't mean HE specifically stole any money.

I was stating that he along with Bernanke and the Government STOLE that money from the American taxpayer for their rich buddies like AIG and the like.

~Keeper

Well, to be technical here - it is glaringly obvious that AIG was propped up so it could pay back GSachs. The money went straight through AIG, and into GS - thats not a coincidence.

I guess even the crooked dirt bag who screwed US taxpayers in the AIG bailout can occasionally be for something worthwhile.