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Remember When Obama Promised To Raise Taxes On The Middle Class?


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Watch and enjoy Obama on the campaign trailGeithner Won’t Rule Out New Taxes for Middle ClassAugust 02, 2009 8:02 AMTo 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.While Geithner told me, “There are signs the recession is easing,” he warned that, “We have a ways to go.”“I want to emphasize the basic reality that unemployment is very high in this country,” the secretary said. But, he underlined that the administration is “going to do what is necessary to bring growth back on track.”Turning to the bank bailout, he told me it is “quite unlikely” that the U.S. Treasury will go back to Congress to ask for more funding for the financial rescue package."We do not plan to ask for more money and I think it’s quite unlikely that we do," Geithner said in his most blunt language to date on TARP funding. The secretary said that today the TARP has roughly $130 billion, in part due to more than $70 billion that has already come back into the government.Geithner also strongly endorsed legislation currently pending in the House that would increase the power of the SEC and give shareholders more rights to vote on executive compensation. He insisted that Republican criticism that the government is overly involved in the financial system is unfounded."Everybody understands that we cannot have our financial system go back to the practices that brought this economy to the brink of collapse," he told me. "It is going to take fundamental reform."
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Watch and enjoy Obama on the campaign trailGeithner Won't Rule Out New Taxes for Middle ClassAugust 02, 2009 8:02 AMTo 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."
This would come as surprise to whom? Wealthy, experienced business people who make decisions (10 percent of this forum) for a living saw this coming…While the young, idealistic, highly educated (90 percent) bought it and thought it was great. The poor always get hit the hardest….
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Sure hope that Geithner is just putting up a trial balloon that will quickly be popped.All Obama has to do is rewind the tape of Bush Sr's "Read My Lips" pledge and revisit what happened when he went back on it.

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dick cheney didn't have the authority to start a war.
yeah, but Tim Geithner can't point two fingers at you, slowly push them together, and constrict your windpipe.
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dick cheney didn't have the authority to start a war.
The constitution makes it clear that the person in control of the president is commander in chief. It also states that the power to tax resides with those who buy the legislature.
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Geithner does not have the authority to raise taxes.
I am sure this was Dear Leader's trial balloon.... Geithner is not out there speaking off the cuff...
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“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.Er, no?The American people believing that Congress/Obama will decrease the deficit has barely anything at all to do with an economic recovery. If anything, believing that they are serious about deficit reduction would make the situation worse as the American people start believing that their taxes will be raised in future and that welfare programs will be rolled back. I'm hoping Geither is just saying this to pander to the deficit hawks.

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http://www.cnn.com/2009/POLITICS/08/03/oba...nomy/index.htmlok looks like we're safe for now. at least until they can convince the public that anybody that makes over 50k a year is rich.
If Obama keeps up at his current pace, in a couple of years 20K will be rich. We'll barely be able to afford our cannibal shelters.
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If full tilt can buy a time slot on NBC in prime time, t boone pickens or some rich republican can buy a time slot to explain to people that things like cap and trade and VAT are not only taxes on EVERY class, but taxes that actually hit you harder the lower your income level.What's stopping someone from doing this?

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If full tilt can buy a time slot on NBC in prime time, t boone pickens or some rich republican can buy a time slot to explain to people that things like cap and trade and VAT are not only taxes on EVERY class, but taxes that actually hit you harder the lower your income level.What's stopping someone from doing this?
The FEC.
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If full tilt can buy a time slot on NBC in prime time, t boone pickens or some rich republican can buy a time slot to explain to people that things like cap and trade and VAT are not only taxes on EVERY class, but taxes that actually hit you harder the lower your income level.What's stopping someone from doing this?
Obama did this during the campaign (1/2 Hour six days prior to the election). Glad to see it had a lasting impression. H. Ross Perot did it a while back too.
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The FEC.
But you don't have to outright support a candidate. All it would take is someone putting in plain english a very simple explanation of how Obama is desparately trying to actually raise everyone's taxes and pose a few open questions that the administration really really doesn't want to answer.That can't possibly be against the law under the first amendment. I think the only two networks that would even consider selling time to anything anti obama would be Fox or maybe ABC.
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of how Obama is desparately trying to actually raise everyone's taxes
Obama is desperately trying to raise everyone's taxes now? Because Geithner said "some hard choices" may have to be made? You don't think that's a tad bit beyond hyperbole? Any tax changes increases have to be passed by congress. There will be plenty of debate and argument. Obama is not taxing us by executive order in the middle of the night. Everyone relax.
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Obama is desperately trying to raise everyone's taxes now? Because Geithner said "some hard choices" may have to be made? You don't think that's a tad bit beyond hyperbole? Any tax changes increases have to be passed by congress. There will be plenty of debate and argument. Obama is not taxing us by executive order in the middle of the night. Everyone relax.
Cap and trade is a tax that most adversely effects people who use a high percentage of their income on goods manufactured domestically, because the end purchaser ultimately absorbs the additional overhead created. Things like processed foods, household goods, etc. We can argue until we die about whether it helps the environment or not, but it's not really arguable who pays the tax in the end.A VAT tax does the same thing without pretending to help the environment. Depending on how its implemented, it might not affect those too poor to make larger life purchases like cars, etc. but there's no chance it doesn't affect the truly middle class. There was a list in another thread about the 10 biggest places he's already proposed tax increases. The guy HAS to raise taxes to pay for what he wants. He is trying to do it in the sneakiest ways possible.
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Cap and trade is a tax that most adversely effects people who use a high percentage of their income on goods manufactured domestically, because the end purchaser ultimately absorbs the additional overhead created. Things like processed foods, household goods, etc. We can argue until we die about whether it helps the environment or not, but it's not really arguable who pays the tax in the end.A VAT tax does the same thing without pretending to help the environment. Depending on how its implemented, it might not affect those too poor to make larger life purchases like cars, etc. but there's no chance it doesn't affect the truly middle class. There was a list in another thread about the 10 biggest places he's already proposed tax increases. The guy HAS to raise taxes to pay for what he wants. He is trying to do it in the sneakiest ways possible.
I don't think there's anything sneaky. Cap and trade is being publicly discussed and debated; research reports on its impact both environmental and financial have been released by the government... where's the sneaking? He promised not to raise income tax on those making below 250K. No one ever said the government would not try and raise money in other ways. I understand why you don't like some of these programs, but there really isn't any hidden conspiracy here.
priceless?? really? the Joker is a socialist now? I thought he represented quite the opposite. I can appreciate well done propaganda when I see it, but this is a total failure of message. The Maobama thing in your avatar is much, much better that this.
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He promised not to raise income tax on those making below 250K. No one ever said the government would not try and raise money in other ways.
Pretty sure that's not true.To Google!"I can make a firm pledge," he said in Dover, N.H., on Sept. 12. "Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes."
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I don't think there's anything sneaky. Cap and trade is being publicly discussed and debated; research reports on its impact both environmental and financial have been released by the government... where's the sneaking? He promised not to raise income tax on those making below 250K. No one ever said the government would not try and raise money in other ways. I understand why you don't like some of these programs, but there really isn't any hidden conspiracy here.
A tax is a tax whether it comes out of your paycheck each week or eats into your food / shelter / personal budget. He said he won't increase the tax burden on the middle class, not just the income tax. (edit: thanks JJJ)This is a tax that burdens the middle / lower classes. The place in the supply chain at which it is introduced doesn't matter. His current message is very deceiptful. The average american still thinks he's still only raising taxes on the rich because that's what he keeps saying. When / if VAT becomes a legislatable issue next year, he will again bill it as a tax on big corporations. Neither of these things is true in actuality because regardless of who writes the check to the treasury, the person who consumes the good or service bore the tax usually dollar for dollar. This is a concept very few people (relatively speaking) understand, which is why I feel continuing to frame the plethora of proposed tax increases with the current wording is very deceitful. I'm not looking out for black helicopters or anything, but I still consider it a lie.
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