Yesterday Tim, deer in the headlights, Geithner went to Capitol Hill to defend Obama’s $3.6 T dollar budget request. The Washington Post via the Boston Globe is reporting.
Two of the administration’s top economic officials defended President Obama’s $3.6 trillion budget plan yesterday, arguing that the proposal would finance a historic investment in critical economic priorities while restoring balance to a tax code tipped in favor of the wealthy.
Rebutting Republican charges that the plan would raise taxes on a broad swath of Americans, White House budget director Peter Orszag and Treasury Secretary Timothy Geithner said the tax increases – aimed primarily at business and a few million families who earn more than $250,000 a year – are essential to reducing record budget deficits bloated by bailouts of the financial sector and federal spending to prop up the economy.
“This is a deep moral imperative to make our society more just. But it’s very good economic policy, too,” Geithner told the House Ways and Means Committee, emphasizing that none of the tax increases would take effect “until we are safely into recovery” in 2011. “It will make our nation stronger and not just more just.”
First off, the tax code is not skewed in favor of the wealthy. 41 out of every 100 Americans pay no income tax at all. That is not a tax code skewed towards the wealthy. That is a tax code that favors the lowest on the rung.
The part of Geithner’s testimony that should give all of us pause is when he talks about “social justice”, that is a code word for socialism and the redistribution of wealth. When Geithner et all say “social justice” you should be thinking, there goes my money. It is not the government’s purview to institute social justice, leave that to the Church. But wait under Obama’s policies churches will cease to have money to carry out their own social programs because Obama is taking away the charitable deduction. Those two actions, the getting of the government into the social justice game and the stripping of the charity deduction have at their core the want of progressives to destroy organized religion. This budget contains that Trojan Horse.