By VICTORIA MCGRANE And MICHAEL R. CRITTENDEN
WSJ
WASHINGTON—Extending
tax cuts for the wealthiest Americans would imperil the fragile
economic recovery, Treasury Secretary Timothy Geithner said Wednesday,
as the Obama administration pushes to let the Bush-era policies expire
at the end of the year.
Mr. Geithner, in remarks before the
left-leaning Center for American Progress, said "there is no credible
argument that the purpose of government is to borrow from future
generations of Americans to finance an extension of tax cuts for the
top 2%."
Mr. Geithner, taking aim at congressional Republicans'
push to extend the tax cuts for those with household incomes of at
least $250,000, said such a move would hurt efforts to address the
nation's long-term fiscal stability.
"We cannot pretend that
deficits don't matter, as some on the other side have notably
suggested...Borrowing to finance tax cuts for the top 2% would be a
$700 billion fiscal mistake," he said.
(More here.)
No comments:
Post a Comment