WASHINGTON (CNN) – The White House shot down concerns Monday that middle-class families may face a tax increase in order to combat rising deficits and a struggling economy.
"The president was clear during the campaign about his commitment on not raising taxes on middle-class families," White House press secretary Robert Gibbs said Monday afternoon. "I don't think any economist would believe that, in the environment that we're in, that raising taxes on middle-class families would make any sense."
The concern came after the Obama administration's two top money men floated the idea that tax increases to fund the nation's economic recovery could extend beyond the wealthiest Americans.
Treasury Secretary Timothy Geithner and Larry Summers, director of the National Economic Council, said Sunday they could no longer guarantee the middle class will be spared a tax increase.
"We have to do what's necessary," Geithner said on ABC's "This Week." "The critical thing is people understand that when we have recovery established - led by the private sector - and we have to bring these deficits down very dramatically ... we have to bring them down to a level where the amount we're borrowing from the world is stable and at a reasonable level."
It isn’t just the responsibility of these guys to solve all of our monetary problems.
This whole situation has developed over years of irresponsible behavior by most Americans spending everything, even their home equity to buy STUFF and saving O. Most of the states and the Federal government over spending as well. Now we all have China as our banker and now being at risk of their whims.
Now get out there to all of those Wallmarts all of you crazies.. and keep China happy a little longer...
Considering the US government gives your 48 billion dollars a YEAR to people making under 30k a year, and considering the fact that over 50% of people making 50k or less didn't even pay Federal Income Tax, I can't even understand when people of the "middle class" are complaining about tax hikes. Also, the IRS stated that the top 1% of earners pay 95% of the Federal Income Tax. How about the middle class start paying taxes before they complain about tax increases?
Obama lied. Taxes have to go up to pay for this reckless spending. When will you sheep wake up?
A national sales tax would be preferable to the insanity of the income tax code. It would be fair to all – you spend you pay. The notion that some (ie, 40% of Americans) should be "exempt" from paying any taxes is wrong. Everyone, yes, everyone, can afford a few bucks a month. The wealthy 10% should't have to shoulder 80% of all income taxes the Federal Gov't receives.
Guess Obama is leaving Geithner and Summers out to dry. The reality is Geithner and Summers are right. There simply aren't enough evil rich people to pay for the trillions and trillions of spending that is taking place.
Funny how some libs are blaming this on the Republicans. Apparently none of them watched the Sunday morning shows. Geither outright said to George snuffleupogus that we'll try to not unduly burden the American people, when asked if taxes would be increased. Georgey never followed up on this – fortunately enough others have.
whoa! this is all too way hypothetical.
Why JUDGE and accuse the Prez on something that may not happen?
come on people, focus on the facts and the HERE & NOW, don't dwell on a unproven statement made by the media.
CNN is out of control..throwing out there "what ifs" just to get ratings.