{"id":10025,"date":"2011-06-25T11:59:45","date_gmt":"2011-06-25T15:59:45","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=10025"},"modified":"2011-06-25T11:59:45","modified_gmt":"2011-06-25T15:59:45","slug":"taxes-must-rise-to-maintain-the-overall-size-of-government-programs","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2011\/06\/25\/taxes-must-rise-to-maintain-the-overall-size-of-government-programs\/","title":{"rendered":"Taxes <em>must<\/em> rise to maintain &#8220;the overall size of government programs&#8221;"},"content":{"rendered":"<p>Treasury Secretary Timothy Geithner was being as honest as he knows how in talking to the House Small Business Committee this week. Reducing the size of government is <a href=\"http:\/\/www.cnsnews.com\/news\/article\/geithner-taxes-small-business-must-rise\" target=\"_blank\">literally <em>unthinkable<\/em><\/a>:<\/p>\n<blockquote>\n<p>[T]he Obama administration believes taxes on small business must increase so the administration does not have to \u201cshrink the overall size of government programs.\u201d<\/p>\n<p>The administration\u2019s 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 &mdash; including businesses that file taxes the same way individuals and families do.<\/p>\n<p>[. . .]<\/p>\n<p>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 \u201cfinance\u201d what he called a \u201ctax benefit\u201d for those people.<\/p>\n<p>\u201cWe&#8217;re not doing it because we want to do it, we&#8217;re doing it because if we don&#8217;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&#8217;t think I can justify doing that,\u201d said Geithner.<\/p>\n<p>Not only that, he argued, but cutting spending by as much as the \u201cmodest change in revenue\u201d (i.e. $1 trillion) the administration expects from raising taxes on small business would likely have more of a \u201cnegative economic impact\u201d than the tax increases themselves would.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Timothy Geithner was being as honest as he knows how in talking to the House Small Business Committee this week. Reducing the size of government is literally unthinkable: [T]he Obama administration believes taxes on small business must increase so the administration does not have to \u201cshrink the overall size of government programs.\u201d The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,84,53,13],"tags":[71,379,118],"class_list":["post-10025","post","type-post","status-publish","format-standard","hentry","category-economics","category-government","category-politics","category-usa","tag-debt","tag-stimulus","tag-taxes"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-2BH","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/10025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=10025"}],"version-history":[{"count":2,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/10025\/revisions"}],"predecessor-version":[{"id":10027,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/10025\/revisions\/10027"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=10025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=10025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=10025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}