It’s a two-fer today with TurboTax Timmie sidestepping the issue of raising taxes on the middle class to lower the deficit, and Larry Summers speaking about Americans spending their new found wealth.
In all the hoopla about Dr. Orly Taitz’s motion for discovery to authenticate Obama’s kenyan birth certificate, the story about taxes on the middle class going up has gotten lost. Someone has been coaching TurboTax Timmie rather well because he caught himself at least 3 times from talking about tax increases in his interview with George Stephanopoulos.
Geithner Won’t Rule Out New Taxes for Middle Class
To get the economy back on track, will President Barack Obama have to break his pledge not to raise taxes on 95 percent of Americans? In a “This Week” exclusive, Treasury Secretary Tim Geithner told me, “We’re going to have to do what’s necessary.”
Geithner was clear that he believes a key component of economic recovery is deficit reduction. When I gave him several opportunities to rule out a middle class tax hike, he wouldn’t do it.
“We have to bring these deficits down very dramatically,” Geithner told me. “And that’s going to require some very hard choices.”
“We will not get this economy back on track, recovery will be not strong and sustained, unless we convince the American people that we are going to have the will to bring these deficits down once recovery is firmly established,” he said.
And according to Larry Summers, the economy is turning around and we need to continue all of Bambi’s economic stimulus plans like the “very successful Cash For Clunkers program”.
I think this is my favorite quote from Larry:
And the Recovery and Reinvestment program is going to gather force over the next six months. People are able to spend more of the extraordinary tax assistance they’ve received.”
WHAT EXTRAORDINARY TAX ASSISTANCE? Extraordinary tax assistance would be a payroll tax holiday for a year to get small business growing again.
Isn’t Paul Volcker on Obama’s economic team?
I can only guess that he must have been effectively silenced by Geithner and Summers. Volcker was instrumental in bringing inflation under control in the Carter years and then helped with the economic recovery in the first part of the Reagan years. Traditionally he has been very conservative in his economic views.
So, I can only guess that he has been relegated to a lesser role. I can’t imagine him going along with these two clowns on these very destructive policies. But, then again… they all come from the same New York Fed-Wall Street cabal.
All I know is… if you could pick all of the wrong choices that would ensure this country will not come out of recession/depression… they are doing it.
But… *SLAP*… silly me! What am I saying? That’s by design, Dug ‘ol boy!
here ya go (from 5.20.09)
and the bots were hard at work last night and have affected picture caption scripts.
DT… as usual, you are on top of it. That post pretty much confirms what I was suspecting. I also found this today. Article is dated back in July… but it offers one possible explanation as to why that is kind of interesting.
What a mess!
So let me see… the OMB is just reporting that individual tax revenue is down 22 points and corporate tax revenue is down 57 points… lowest since 1932.
So let’s raise taxes, which has been proven over and over again to kill jobs… which then causes revenue to go down even further. Oh… and let’s make sure and let those evil Bush tax cuts expire, too.
What a bunch of idiots! A grade schooler has more economic sense!
Everything is going according to plan. Plans made decades ago.
Disinformation abounds! “Pay no attention to the man behind the curtain!”