If Congress does not act on these tax provisions or on the investments and infrastructure things, then what happens to the American economy? What happens is that every American who has a job will see their taxes go up by $1,000 on average next year.
Geithner warns of tax increases if Congress fails to act on economic measures.
Share
More from Tim Geithner
When Timothy Geithner says today that he's willing to go over the cliff, he's saying it because, yes, it's posturing. But he's also saying it because he means it.
People don't like to pay taxes. But they are more likely to pay taxes if you can make them more confident that they are not going to be wasted by their government.
I think it's inevitable that the Congress and the administration come together and reform, comprehensively, the U.S. tax code.
we have suggested that the burden for the revenues that would have to come on the individual side should fall on the most fortunate 2 percent of Americans through an increase in the effective tax rate on those individuals.
Other voices in this conversation
