Finally Turbo Timmy Levels with Small Business your taxes have to go up to continue funding our falied socialist programs


Geithner: Taxes on ‘Small Business’ Must Rise So Government Doesn’t ‘Shrink’
Comments by Jim Campbell
Let’s not forget Obama pledge to raise no taxes on families making under $250,000/year. “You will not see your taxes of any kind.”  Just one of many of collisions with the truth and reality.
It’s not enough that Obama continues to blame “Greedy Wall Street Bankers” for the economic morass he believes was handed to him; incredulously he surrounds himself with the same group of fools he has damned.
Now, Turbo Timmy is taken apart by a well prepared Nurse who won her congressional seat during 2010 representing her district in NC. 
Factually progressives claim to not  understand that it is cutting spending, no not for the poor, those on Medicare and Social Security that must be done, this has been election year lies liberals  from the past as they have nothing to offer their constituents. 
Has anybody seen or heard of anyone taken off Social Security or Medicare or depicted as the scared to death left is now doing showing a Paul Ryan look alike pushing ole granny over a cliff?
Here are a few clues for you Secretary Geithner since you refused to address them. O.K. you mentioned education.  Let’s abolish the entire department of education.  From the Department of Education website; US$32 billion (2009) US$56 billion
(est. 2010) US$71 billion (est. 2011) ARRA Funding: US$102 billion (2009)[1]
US$51 billion (est. 2010) US$23 billion
For brevity sake let’s say any program called the Department of……………if needed at all can be done more effectively less expensively by people tasked with the same job in private industry.  Presently the Department of Education has 5000 employees.  Another failed Carter Administration program.  For the monies spent the U.S. does not compare favorably when 15 year old children are compared with their counter parts in developed countries.
O.K. Let’s discuss the department of Energy, another failed Carter era program. Formed on August 8th 1997 it’s stated mission, to make America energy efficient thereby insuring America’s national security from an energy stand point.  The department employs 109,094 employees the annual budget for 2011 was $29 billion 132 million dollars.
Article below

By Terence P. Jeffrey

CNS News

Treasury Secretary Tim Geithner testifies in the House Small Business Committee on Wednesday, June 22, 2011. (Congressional photo)

(CNSNews.com) – Treasury Secretary Timothy Geithner told the House Small Business Committee on Wednesday that the Obama administration believes taxes on small business must increase so the administration does not have to “shrink the overall size of government programs.” Less we forget, over $2 billion for the construction and enhancement of school and TAFE facilities, including $1.23 billion of works from the Building the Education Revolution Program

The administration’s plan to raise the tax rate on small businesses is part of its plan to raise taxes on all Americans who make more than $250,000 per year—including businesses that file taxes the same way individuals and families do.

Geithner’s explanation of the administration’s small-business tax plan came in an exchange with first-term Rep. Renee Ellmers (R.-N.C.). Ellmers, a nurse, decided to run for the U.S. House of Representatives in 2010 after she became active in the grass-roots opposition to President Barack Obama’s proposed health-care reform plan in 2009.

“Overwhelmingly, the businesses back home and across the country continue to tell us that regulation, lack of access to capital, taxation, fear of taxation, and just the overwhelming uncertainties that our businesses face is keeping them from hiring,” Ellmers told Geithner. “They just simply cannot.”

She then challenged Geithner on the administration’s tax plan.

“Looking into the future, you are supporting the idea of taxation, increasing taxes on those who make $250,000 or more. Those are our business owners,” said Ellmers.

Geithner initially responded by saying that the administration’s planned tax increase would hit “three percent of your small businesses.”

Ellmers then said: “Sixty-four percent of jobs that are created in this country are for small business.”

Geithner conceded the point, but then suggested the administration’s planned tax increase on small businesses would be “good for growth.”

“No, that’s right. I agree with that,” said Geithner. “But just to put it in perspective, it’s important to recognize why are we doing this. You know, our deficits are 10 percent of GDP, higher than they’ve been since any time in the postwar period really. We have a big hole to dig out of, and we have to figure out how to do that in a way that’s balanced, good for growth, fair to people as a whole.”

Geithner, continuing, 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 Geithner.

Not only that, he argued, but cutting spending by as much as the “modest change in revenue” (i.e. $1 trillion) the administration expects from raising taxes on small business would likely have more of a “negative economic impact” than the tax increases themselves would.

“And if we were to cut spending by that magnitude to do it, you’d be putting a huge additional burden on the economy, probably greater negative economic impact than that modest change in revenue,” said Geithner.

When Ellmers finally told Geithner that “the point is we need jobs,” he responded that the administration felt it had “no alternative” but to raise taxes on small businesses because otherwise “you have to shrink the overall size of government programs”—including federal education spending.

“We’re not doing it because we want to do it, we’re doing it because we see no alternative to a balanced approach to reduce our fiscal deficits,” said Geithner.

“If you don’t touch revenues and you leave in place the tax cuts for the top 2 percent that were put in place by President Bush, if you leave those in place and you’re trying to bring our deficits down over time, then you have to do exceptionally deep cuts in benefits for middle-class Americans and you have to shrink the overall size of government programs, things like education, to levels that we could not accept as a country,” said Geithner.

“So to do a balanced approach to reduce our deficits you have to make modest changes in revenues,” he said. “There’s no realistic opportunity to do alternatives to doing that.”

According to historical budget tables published by the White House Office of Management and Budget, federal spending has climbed from $2.89 trillion in 2008—the year President Obama took office—to $3.82 trillion this year, an increase of approximately $930 billion.

Meanwhile, according to the National Center for Educational Statistics, although federal education spending in inflation-adjusted dollars has jumped from $71.64  billion in 1995—when Bill Clinton was president–to $163.07 billion in 2009—when Barack Obama was president—federal spending still accounted for only 8.2 percent of spending for public primary and secondary education in America in the 2007-2008 school year. Historically and presently in the United States, local and state governments have  funded the cost of public education.

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8 responses to “Finally Turbo Timmy Levels with Small Business your taxes have to go up to continue funding our falied socialist programs

  1. Shirley Brinker

    Geitner like Obama wants to destroy the U.S. I hope the Republiclicans do not raise the debt limit. I do not think the Fed is good. I am reading Ron Paul’s book End the Fed and from what I saw of Money Masters and in Ron Paul’s book, we need to go back to the gold standard. Although Money Masters doesn’t agree about the gold Standard. They think just have the treasury print the money like Abraham Lincoln did and base it on the rise and fall in the economy. Let the free market be what drives the scenario. Obviously, the Fed has made a mess of this. We are in a crisis and we need to change things.

  2. Geithner, Obama and all those in this administration somehow believe the citizens are either total idiots who can’t see the government waste or the government lies – or they think ‘even if we do see it, we can’t do anything about it’…..
    We’ve talked here before about the useless departments set up that have done nothing over the years, except add more workers. Those agencies continue to drain our money and do nothing, but heaven forbid that we should want to get rid of them and ‘shrink the size of government’. How could we? Better to take away our Social Security and freedom of medical care, and anything else that keeps the citizens further down than the elitist government. Nice that the Obama’s can have one costly vacation after another, taking hundreds of people with them at our expense. They need not worry about ever being without money. They stole ours and continue to do it while feeding us incredible tall tales that mean absolutely nothing.
    BTW, when they raise taxes on small business, small business will fold up and walk away, leaving still more people without jobs. That MUST be the goal of our government. People who are dependent upon government will agree to anything,and will fight nothing.

    • Agreed Loral Obama is right for the most part American’s are uninformed voters certainly idiots if they voted for him. Yes we do see it, but people don’t seem willing to make a phone call ever day and demand his impeachment using the toll free number on the side bar of my blog. Jim

  3. They want to weaken America,and demoralize the people. That is their plan. There can be no other explanation for the systematic destruction of businesses that we have been subjected to…closing profitable GM dealerships was only the start.

    • You are absolutely correct, the end is near, impeachment may very well arrive before you know it. Until then we vote his bony ass out in 2012 and put the progressive movement into it’s grave where it belongs.

  4. Between the government and the unions Obama is determinied to destroy America this is required to achieve Agenda 21. The dollar’s taken in and sent out must not match this way the entire thing will collapse and thus Agenda 21 steps via the UN and saves America of course with major costs to every single America which means no freedoms and no Constitution. The Education system is so liberal and teaching such liberal crap and it will stay that way in order to have the next generation only focused on the earth and the world as a whole. Not the United States it will no longer exist.

  5. Shirley Brinker

    Jim, I will get Jeckyell and Hyde, but I wish you would go go moneymaster.com and get the Money Masters video. It is 3 1/2 hours long and gives the history of the World Banking system from beginning to end. It is worth the watch and they are also for the New World Order, which I certainly am not wanting at all.

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