Treasury Secretary’s Bogus Claim: Failure to Raise Taxes Would Hurt the Economy

Kathryn Nix / August 06, 2010

Weak economy or not, a huge tax increase is just around the corner. Tax relief enacted nearly a decade ago is set to expire in January, raising taxes for middle-class families, slamming the economy with new burdens, and hurting Americans at every level.

The Obama Administration wants to raise taxes especially for high earners. Treasury Secretary Timothy Geithner recently defended the Administration’s position by claiming that a failure to raise taxes “would hurt economic recovery by undermining confidence that we are prepared to make a commitment today to bring down our future deficits.” (more…)