Obamacrats 1 -- Reason 0

I just finished watching an interview of Treasury Secretary timothy Geithner on CNBC. To call Geithner's words double talk does not do justice to the illogical nature of what he had to say. First, Geithner agreed that small business is the principal engine of job creation in the US. He also agreed that the single most important thing that the government could do now is to take whatever steps are possible to increase the number of jobs. So far, so good. Second, Geithner talks about how important it is to pass certain tax breaks that will supposedly provide incentives for some small businesses to hire more people. Again, so far so good. But then, Geithner was asked whether or not he was concerned that the scheduled tax increase in the higher brackets which will hit about half of all small business profits in the country will have the effect of reducing job creation. Geithner's answer: we cannot afford the Republican plan to make these cuts permanent. Ok, so Geithner did not really answer the question, but it got asked again in a slightly different way. Was Geithner concerned that substantially raising taxes on the profits of all small businesses would reduce job creation. Geithner's response: No.

This babble is what passes for economic intelligence among the Obamacrats. We need to pass tax credits to provide incentive to some small businesses to create jobs at the same time that we raise taxes on essentially all small businesses by a much larger amount. The net effect of the changes in the next year would be to siphon billions of dollars out of small businesses, the very entities that Geithner agrees are the single most important compenent in job creation in the USA. Even so, Geithner says that he is unconcerned. What utter confusion! What complete nonsense!