Monday, August 3, 2009

Tax Increase For The Middle Class?

Treasury Secretary Kenneth Geithner would not rule out tax increases for the middle class, while National Economic Council Director Larry Summers admitted that the proposed health care plan will need funding from somewhere, while both were making the rounds on the television talk show circuit yesterday.

President Obama vowed while campaigning that we would not see any increases in taxes on the middle class. With a growing budget deficit, and a pending health care overhaul, it looks like there aren't many options except to raise taxes. I really want to see how President Obama spins a tax increase with a health care plan that he repeatedly has said would not impact taxes on the middle class.

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