Posted by
Billy on Monday, August 03, 2009 1:53:57 PM
Two of President Barack Obama's economic heavyweights said
middle-class taxes might have to go up to pare budget deficits or to pay for
the proposed overhaul of the nation's health care system.
Geithner and Summers both sidestepped
questions on Obama's intentions about taxes. Geithner said the White House was
not ready to rule out a tax hike to reduce the federal deficit; Summers said
Obama's proposed health care overhaul needs funding from somewhere.
"There is a lot that can happen over
time," Summers said, adding that the administration believes "it is
never a good idea to absolutely rule things out, no matter what."
During his presidential campaign, Obama
repeatedly pledged "you will not see any of your taxes increase one single
dime." But the simple reality remains that his ambitious overhaul of how
Americans receive health care — promised without increasing the federal deficit
— must be paid.
(Ok so Obama may increase taxers on middle Americans to pay for forced government health care which most don't want. It is an outrage. We don't need or do most of us want another government program. Read more on this issue Obama Aides Open Door to Higher Taxes on Middle Class.)