Posted by
Conrado Brenna on Tuesday, August 04, 2009 8:16:07 AM
During his presidential campaign, President Barack Obama claimed to not
raise taxes on middle class families. However, with all of the present reforms
and new systems attempted by President Obama, it doesn’t seem logic to put them
all on the field with a tightened budget. Now, Treasury Secretary Timothy
Geithner, and National Economic Council Director, Larry Summers have been
indirectly suggesting the idea to raise taxes to deal with budget shortfalls.
According to Mr. Geithner, “We can’t make these judgments yet about exactly
what it’s going to take and how we are going to get there”. Summers, on CBS’s
“Face the Nation” said that, “It is never a good idea to absolutely rule things
out”. Moreover, the squeezed federal budget released by the Commerce of
Department last week showed everyone that is has been the worst since the Great
Depression. At the same time, tax revenues have dropped and have caused outlays
for the unemployment compensation program to rise. In conclusion, what we were
told was nothing but a mere deformation of the truth to get voters to vote for
Mr. Obama. It is most likely that taxes are going to get higher for middle
class families. With all of the current spending, the government is soon going to
find itself taxing the lower class families for its costly programs, during one
of the worst recessions this generation has ever seen.