YouTube: Geithner Taxes Must Rise So Government Doesn't Shrink

Last Wednesday Treasury Secretary Timothy Geithner told the House Small Business Committee 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.”

Geithner’s explanation of the administration's small-business tax plan came in an exchange with first-term Representative Renee Ellmers (R.-NC).

YouTube Exchange Between Ellmers and tax cheat Geithner:

“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.”

 “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.

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.”

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.

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 Obama took office—to $3.82 trillion this year, an increase of approximately $930 billion.

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.

Barack Obama, Tim "the tax cheat" Geithner, and the rest of the Democrats have to destroy our economy to push their socialist agenda.  Raising taxes on small businesses will raise unemployment and hurt the economy. A tax increase will not increase tax revenues or reduce the deficit.  It will make more people dependent on the government i.e. the Obama socialist agenda.

Obama is completely out of touch with most Americans.  Not he nor any of the Democrats seem to understand Americans don't want more government.  We want less government.  What do they think the Tea Party is all about?

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