Geithner Won’t Rule Out New Taxes for Middle Class

[Sarge]

Wondered how long that would take

http://blogs.abcnews.com/george/2009/08/geithner-wont-rule-out-new-taxes-for-middle-class.html

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.”

 

[Chris]

Wondered how long that would take

How long what would take? To not rule it out?

 

[beamish]

and so it begins...

although you could spin this and stop short of concluding that geithner would recommend a middle class tax hike -- maybe he just hasn't fully thought it through yet.

and i doubt congress would vote for a tax hike in an election yr.

 

[Sarge]

How long what would take? To not rule it out?

To go from


I will cut taxes - cut taxes - for 95 percent of all working families, because, in an economy like this, the last thing we should do is raise taxes on the middle class.
Barack Obama


to Geithner slowing leaning that way on the news today. They are either not on the same page or they are floating the idea to see what kind of reaction they get

 

[beamish]

then again, maybe geithner doesn't have to go there -- just let the Bush tax cuts expire

 

[Sarge]

then again, maybe geithner doesn't have to go there -- just let the Bush tax cuts expire

I think that was a given

 

[Chris]

Not ruling something out does not equate to leaning towards a tax increase, no matter how much one hopes it does.

It means to not rule anything out.