My teenage son came up to me and said, I don’t want to have to say this but I’ll need to increase the amount of money you have to pay me because it would be irresponsible of me to let you continue keeping it. If I don’t take the money you will be realizing a benefit to which you are not entitled.
What a great line for a mugger.
My son did not, in fact, say this to me. Secretary of the Treasury, Tax cheat Timmy "Turbo Tax" Geithner said it to a congressional committee. And yes, this is how democrats think. And yes, someone should take the entire administration over it’s knee right after they cut off their allowance.
Geithner,… argued that if the administration did not extract a trillion dollars in new revenue from its plan to increase taxes on people earning more than $250,000, including small businesses, the government would in effect “finance” what he called a “tax benefit” for those people.
“We’re not doing it because we want to do it, we’re doing it because if we don’t do it, then, again, I have to go out and borrow a trillion dollars over the next 10 years to finance those tax benefits for the top 2 percent, and I don’t think I can justify doing that,” said Neither.
So if the government does not rob these people of their earnings, the government will have to go and borrow the money someplace else.
I’m not sure which is worse. The fact that Geithner thinks we need to do this at all, or the fact that he seems to believe that what he says is in any way moral or that it will, as Mr. Geithner claims to believe–improve growth. Growth of government and taxes yes, but nothing else grows–in fact everything else gets smaller.
And he’s supposed to be the economic genius? My teenage son knows better than Tim Geithner.
