UPDATE: WH Issues Stmt…New Taxes on the Middle Class? Whatever it takes says Turbo Tax Timmeh…

Update: 8/3 1:34 pm EST: CNBC has statement from the WH: “would not make sense to raise taxes on middle class, the President’s commitment is pretty clear on that…” (no word on the commitment of Timmeh, Summers and China who is buying our debt as TOTUS spends…)

Gee maybe they should get the memo to Geithner and Summers then….maroons…particularly since Geithner just told China we would reduce the deficit…As we noted in our discussion of UE extension this morning:

Larry Summers and Tim Geithner were chattering about MIDDLE CLASS TAX HIKES, ‘well the money has to come from somewhere for health reform’ Summers says...

…Rather, Mr. Summers told CBS News’s “Face the Nation” that key to controlling the deficit were elements of the Obama economic program, “the first and more important” one being “substantial reform of the health-care system.” But he said the proposed health overhaul needs funding from somewhere…”

One more time, we CANNOT spend like this without raising taxes. SO STOP SPENDING CRITTERS! We CANNOT afford the health care bill now…or cap and trade…or rainbow unity ponies and kickbacks for all and sundry…stop spending..

Original post after the break:

Well, we knew this was coming.

MiM said it and said it. TOTUS told us in the beginning of our primaries he wanted to raise the cap on SS Payroll taxes, all his figures began with a figure around 80k (see for example his interview with Maria Bartiromo as early as March of 08 on cap gains). It was only when the debates narrowed down to he and Hill that he matched her figure of 250k and up as the target for any necessary tax increases and he ran with it..

AND they STILL want to ram through a gigantic new entitlement in health care…EVERYTHING TOTUS WANTS IS EVERYTHING TOTUS SEES…and we poor bastards have the bill….

Well here we go, now that they have JACKED UP the debt on all of us with INSANE spending we said we DID NOT WANT, they are claiming we simply must do whatever it takes to get the deficit down.

Hold onto your wallets ladies and gentleman, the nonmoderate nonClinton nonbusiness-friendly spend and tax Democrat is about to go all Carter on our axxes…Taxman is out of the bag….

From Drew at AceHQ:

ABC headline is: Geithner Won’t Rule Out New Taxes on 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.

But wait, what happened to this? Nice signage on his lecturn there BTW, just words- he must have ‘borrowed’ the signage from Deval Patrick….h/t Instapundit

August 2, 2009. Tags: , , , , , , , , . Finance, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St.


  1. Economy: Marty Feldstein says we may see second dip; what about that housing data? « Moderate in the Middle replied:

    […] edumacated consumers who actually buy the stuff we import and produce!) . This comes weeks after Geithner and Summers were off the rez talking about the possibility of tax hikes for the middle class. Buffet (another person TOTUS liked […]


  2. Marty Feldstein says we may see second dip in economy; what about that housing data? « Moderate in the Middle replied:

    […] you go. Now Feldstein is on board with the W. This comes weeks after Geithner and Summers were off the rez talking about the possibility of tax hikes for the middle […]


%d bloggers like this: