2 Obama officials: No guarantee taxes won't go up
President Barack Obama's treasury secretary said Sunday he cannot rule out higher taxes to help tame an exploding budget deficit, and his chief economic adviser would not dismiss raising them on middle-class Americans as part of a health care overhaul.
Treasury Secretary Timothy Geithner and National Economic Council Director Larry Summers both sidestepped questions on Obama's intentions about taxes. Geithner said the White House was not ready to rule out a tax hike to lower the federal deficit; Summers said Obama's proposed health care overhaul needs funding from somewhere.
And keep in mind this is just income tax we are talking about. Obama can raise your tobacco tax, energy tax, gas tax, etc and the media won't report it as a "middle class tax" even thought it is.
The media will however glorify taxes on those greedy corporations... who promptly pass on the bill to us the consumer. We need to stop looking at the segmentation of taxation and instead look at the overall spending.
Politicians are constantly babbling about finding "another funding source" when there is only one source of revenue and that is the productive private sector.