Geithner: We Need to Raise Taxes

[bobbyw24]

(CNSNews.com) - Treasury Secretary Timothy Geithner said Tuesday that a deal to raise the legal debt limit, which he expects to be completed in the next few weeks, will be only a short-term “down payment” on solving the nation’s debt problem, and that it would be "irresponsible" to reduce the massive federal deficit anticipated over the next ten years with spending cuts alone.

What is needed, he said, is a longer-term deal on a “balanced framework” that includes “revenue increases through tax reform.”

http://www.cnsnews.com/news/article/geithner-calls-revenue-increases-through

[VBRonPaulFan]

even though in the past 15 years, government spending has just exploded. so instead of forcing the government to cut back to previous sustainable levels, we'll just continue to shaft the public. this kind of disingenuous shit makes me want to start a freaking revolution.

[HOLLYWOOD]

No you need to get rid of welfare... all of it, corporate Subsidies, TAX CODES, TAX CREDITS, TAX SHELTERS, so-called FREE STUFF, oh, and one more thing...

Lower government expenses by all means first

[Pericles]

He does not care what tax rates are, as he does not pay them ....

[Chester Copperpot]

Getiner should be in jail...

[CaptUSA]

To be fair, he's saying tax reform. I agree that this is needed, but his idea of reform and mine diverge immeasurably from there. Of course, as someone who can't figure out his own tax code, it makes sense that he'd want to reform the code. Great idea!

But to suggest in any way that increases in taxation will help us out of the problem is burying your head. Even if we took 100% of the income of everyone in the top 2% of earners (those over $250K) we would STILL have to borrow money to maintain our spending.

[oyarde]

Yeah , raising taxes always fixes all the problems ...... retard.

[Chieppa1]

America: We need you to quit.

[VerlieJoy]

Apparently he doesn't understand what the word reform means. Reform requires the improvement or amendment of WHAT is wrong, corrupt, or unsatisfactory...to change to a better state, to abandon wrong or evil ways of life. Then again, he doesn't want to loose his little allowance given to him by the fed which was stolen from the American people. He sounds like a child throwing a tantrum. Sadly, I fear that many people will here the word reform, and like him, they misunderstand what that word is being applied to. Why can't more people think like us? Why is it so difficult for this capital hill zombies to understand that what they are doing is WRONG. Geithner is a tool.

[Acala]

Interesting. The government doesn't really NEED more tax revenue since it can create (or command the Fed to create) all the money it wants. So why would they want to raise taxes? Because they are secretly terrified of the inflation that they know is coming as soon as the dollar falls and the only hope is to keep investors lending dollars to the government. And only by demonstrating that the government is willing to squeeze more money out of the American people to pay interest on all the debt can they convince investors that it is safe to loan us more money.

[oyarde]

Interesting. The government doesn't really NEED more tax revenue since it can create (or command the Fed to create) all the money it wants. So why would they want to raise taxes? Because they are secretly terrified of the inflation that they know is coming as soon as the dollar falls and the only hope is to keep investors lending dollars to the government. And only by demonstrating that the government is willing to squeeze more money out of the American people to pay interest on all the debt can they convince investors that it is safe to loan us more money.

Interesting , an evil ploy to steal more to keep up appearances ? Sounds about right..