Wednesday, September 16, 2009

Recovery? Middle Class Tax?

This talk now of income tax on middle class sounds foreboding to me. Biden claims we've gone from near depression to recovery from recession. However, Geithner says it's too early to say economy is in recovery. Now Bernanke says recession is 'very likely over' but it won't feel like it. Geez guys, anyone got a firm position on this or are you all just guessing, AGAIN?

And you've got to admire President Obama saying 'the success of organized labor and the American middle class are essential to the future prosperity of the country'...'the revitalization of the U.S. economy depends on better lives for working class Americans...' (Dear Captain Obvious, please tell us what you are doing to make this happen!)

Of course he wouldn't be pandering to the Unions who helped get him elected. - MBC

http://www.google.com/hostednews/ap/article/ALeqM5jEzYsWgiG-OzwRXulLCZlcXBUoAAD9ANQ1E00

"...On the budget deficits, Geithner said, "I think Americans understand we have an unsustainable fiscal position. We have to bring these deficits down over time." He said the country must "get our fiscal house in order" and stressed that Obama is vehemently opposed to a general income tax increase for people who make under $250,000 a year.

The secretary said that while things are better than they were a year ago, "I would say there's no recovery yet. We define recovery ... as people back to work, people able to get a job again, businesses investing again ....and we're not at that point."

"We're going to do what it takes to get this economy going again," he said. "We're going to look carefully at any sensible program."

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