Geithner says getting rid of tax cuts for wealthy is the right thing to do

[ck4829]

Treasury Secretary Tim Geithner said that allowing tax cuts for the wealthy to expire would be "the responsible thing to do."

This is the last year for the tax cuts enacted under President George W. Bush. Republicans have generally favored extending all of them. While Democrats are divided on the issue, President Barack Obama has favored allowing the expiration of cuts he says have applied to the wealthiest people.

"It's responsible to let the tax cuts expire that just go to 2 percent to 3 percent of Americans, the highest earning Americans," Geithner told ABC's "This Week" in an interview broadcast Sunday.

Doing so would show the world that the U.S. is "willing as a country now to start to make some progress" reducing long-term budget deficits, he said.

http://news.yahoo.com/s/ap/20100725/ap_on_bi_ge/us_treasury_geithner

[FreakinDJ]

1. Tax loop holes to export jobs was in that bill too

At least close the loop hole that gives corporations incentives to export jobs

[AnneD]

2. That shocked me....

but then they know they know they are losing their base. Now if we can get some public works projects going and tax those that outsource jobs......