Friday, June 24, 2011

Timothy Geithner and the Obama Administration Take on Small Businesses

The only thing worse than Treasury Secretary and noted tax cheat Timothy Geithner’s opinions is the very real possibility that he actually believes them.

Earlier this week, Geithner spoke before the House Small Business Committee about Obama’s plan to raise taxes on small businesses. And as usual, his points were ill-informed and logically stunted at best.

“It’s important,” he argued, “to recognize why we are doing this. You know, our deficits are 10 percent of GDP, higher than they’ve been since any time in the postwar period really. We have a big hole to dig out of, and we have to figure out how to do that in a way that’s balanced, good for growth [and] fair to people as a whole.”

When freshman Rep. Renee Ellmers (R – N.C.) bluntly countered with, “We need jobs,” Geithner pointed out the only other alternative to raising taxes would be to reduce “the overall size of government programs.”

As if expecting people to take care of themselves and their neighbors is a bad thing?

Sadly, to people like Geithner, that kind of personal responsibility is as inconceivable as the idea that unproductive people can’t automatically expect a cut from productive people. Yet logic dictates and history shows that no society can keep running when it penalizes responsibility and rewards dependency.

For proof of that, look no further than the inflated U.S. government hard working Americans supposedly need to support even more than we already do.

Non-Rocket Science Lesson #1: Bad Behavior Results in Bad Results

Considering this country’s long-term deterioration in just about every notable area, it seems logical to conclude that our representatives – who make livings off of our tax dollars – are not doing their jobs well, if at all. And overall, we allow them to perform shoddily, reelecting them over and over again as they smile and pat us on the head and repeatedly sell us out for their own self-focused purposes.

In other words, we encourage them to behave badly.

Knowing that, it is any wonder that they then go gallivanting off around the world multiple times per year, bringing their families and staff along for the ride for “official,” (i.e. fully funded) business?

As just one example out of far too many, take Rep. Dan Burton (R – IN), who chairs the House Foreign Affairs subcommittee on Europe and Eurasia. He got to go on an all-expense paid trip to Dublin, Vienna and Prague last month and then again to Rome, Tbilisi, Vilnius, Moscow and Lisbon this month.

The purpose: to “examine the European financial crisis” and check up on “foreign operations of the U.S. government.”

But answering the first issue is anything but rocket science. In fact, the issue is very easily defined without spending a few hundred thousand bucks on airfare, room and board on a dozen or so people for a week or two:

Europe spent too much and encouraged too little… just like the U.S. is doing today.

With leadership like that, no wonder businesses aren't hiring and the economy can't find its feet.

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