Geithner: Wealthy Need to Bear Higher Burden for Privilege of Being American


Treasury Secretary Timothy Geithner explained President Obama’s push for higher taxes on the wealthy – they need to bear a higher burden for the privilege of being American.

“That’s the kind of balance you need,” said Geithner. “Why is that the case? Because if you don’t try to generate more revenues through tax reform, if you don’t ask, you know, the most fortunate Americans to bear a slightly larger burden of the privilege of being an American, then you have to — the only way to achieve fiscal sustainability is through unacceptably deep cuts in benefits for middle class seniors, or unacceptably deep cuts in national security.”

This coming from a rich guy who cheated on his taxes.

If Obama wins a second term being an American will be a burden, not a privilege, regardless of one’s economic status.

Update: Check out the price for oil and Brent crude on the ticker above his head.

Update 2: Linked by Frugal Cafe – thanks!