Friday, December 7, 2012

Shame on Geithner and Summers

Two guys who should know better are helping to lead the country into bankruptcy -- Tim Geithner and Larry Summers.  They act as if the entitlements really aren't a problem.  They are either deliberately misleading the public or they truly have no idea what the social security and medicare are all about.  I suspect the former.  Geithner and Summers are likely only thinking about preserving their relationship with our bizarre President.  That means ignoring the fiscal issues that loom far larger than any short term fiscal cliff.

Both of these guys are focused on raising marginal tax rates which generally lead to lower tax revenues at the level rates are now.  Thus raising rates expands the deficit and increases the national debt more than leaving rates alone.  So, why are Geithner and Summers deliberately promoting policies that raise the national debt?  To curry favor with the White House and to expand their own sphere of influence within the White House is the only logical explanation.

Both Geithner and Summers, by their public duplicity, have forfeited their roles as public leaders to wander into the mire of low level political rhetoric. "Soak the rich" is not a new slogan that began with Obama.  The same slogan has been available to demagogues the world over and since the beginning of time.  Free market capitalism is now being undermined by appeals to revenge, envy, and hatred.  This is more of the Obama legacy and is actively promoted by Tim Geithner and Larry Summers.  Washington, Jefferson, and Hamilton must be turning over in their graves if they are listening to the modern American political rhetoric.

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