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The world is likely to view any temporary extension of the income tax cuts for the top two percent as a prelude to a long-term or permanent extension, and that would hurt economic recovery as well by undermining confidence that we're prepared to make a commitment today to bring down our future deficits.
-Timothy Geithner
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The World Is Likely To View Any

Timothy Geithner
The world is likely to view any temporary extension of the income tax cuts for the top two percent as a prelude to a long-term or permanent extension, and that would hurt economic recovery as well by undermining confidence that we're prepared to make a commitment today to bring down our future deficits.
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Hurt Recovery Commitment

More From Timothy Geithner

Regarding the economy & taxation: america's most successful achievers do pay a higher share of the total tax burden. the top one percent income earners paid 18 percent of the total tax burden in 1981, and paid 25 percent in 1991. the bottom 50 percent of income earners paid only 8 percent of the total tax burden, and paid only 5 percent in 1991. history shows that tax cuts have always resulted in improved economic growth producing more tax revenue in the treasury.
Success Cutting America
This is a very important issue that the corporate media chooses not to talk about a whole lot, that we have an economic system which is rigged, which means that at the same time as the middle class of this country is disappearing, almost all of the new income and wealth in america is going to the top 1 percent. you have the top one-tenth of 1 percent owning almost as much wealth as the bottom 90 percent - 58 percent of all new income is going to the top 1 percent.
Country Mean Media
What mae west said about sex is true about taxes. all tax cuts are good tax cuts; even bad tax cuts are good tax cuts.
Sex Cutting West
Let's take the nine states that have no income tax and compare them with the nine states with the highest income tax rates in the nation. if you look at the economic metrics over the last decade for both groups, the zero-income-tax-rate states outperform the highest-income-tax-rate states by a fairly sizable amount.
Zero Groups Income
It is easier to start taxes than to stop them. a tax an inch long can easily become a yard long. that has been the history of the income tax. would not the sales tax be likely to have a similar history [in the u.s.]? ... canadian newspapers report that an increase in the sales tax threatens to drive the mackenzie king administration out of office. canada began with a sales tax of 2%.... starting this month the tax is 6%. the burden, in other words, has already been increased 200% ... what the u.s. needs is not new taxes, is not more taxes, but fewer and lower taxes.
Kings Long Office
If you look at the performance of the zero-income-tax-rate states and the highest-income-tax-rate states, i believe a large amount of their difference is due to taxes. not only is it true of the last decade, but i took these numbers back 50 years. and, there's not one year in the last 50 where the zero-income-tax-rate states have not outperformed the highest-income-tax-rate states.
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