Tim Geithner Cannot Explain Capital Gains Tax!!

Watch the neophyte Treasury Secretary try to explain that he has it all under control. He fully supports Obama's wealth redistribution policies. The second half of the clip shows the IRS chief unable to explain what exactly the top capital gains tax rate is. Watch Charlie Rose laugh and try to cover for the obvious lack of knowledge displayed by this guy. A tax cheat is head of the treasury and America is in big trouble.

Category:

News & Politics

Tags:

• tim
• geithner
• irs
• treasury
• secretary
• banking
• charlie
• rose
• obama
• capital
• gains
• tax
• crisis
• recession
• tarp

[vernlaw]

He didn't know exactly what the cap gains was in 01. It was 20%. Before it was 28% Now it's 15% which is the lowest it's been since the depression. (Coincidence?)It's obvious that the capital gains tax being so low was one of the main contributors to this. The definition of a bubble is over investment in assets causing assets to be over priced. In the eighties it made sense to lower upper level taxes to spur investment. Now we need the opposite because there is not enough purchasing power.

[flightlevel66]

Actually, bubbles are caused by the federal reserve flooding the market with cheap money (very low interest rates), which encourage banks to offer lots of debt to consumers at low interest rates. Your argument that capital gains was a main contributor to the bubble is weak at best. We need to spur investment now more than ever. Increasing capital gains (or any tax) now is insane. But Obama and Geithner don't care, their objective is to turn America into Europe-stagnant growth, big government.

[johnnyharpe]

Oh my God, these people really don't know what they are doing. He is talking pure gibberish and baby-talk. 2:24

[customstratguy]

We are in SERIOUS trouble!!! This is the beginning of the end of the United States of America. I never thought I`d live to see it, but these men have sold us out!

[direct241]

Every time Tiny Tim speaks I find myself drifting off about halfway through then coming back only to realize how full of shit he really is.

Republicrats depend on our inability to make our own decisions. Wake TF up!

"Are you in," no.....I'm am so f*&^%^$ out- So full of sh&*......both sides.

[johnnycmajor]

Looks like Tiny Tim's nose could be broken easily.

[johnnycmajor]

Puss comes dripping down the evil pricks mouth, hang tiny tim!! Impeach O B O M B M A there is not much time left. Arrest all them , the fed's, you know who I'm talking about, throw Perry in there too, and the Bush's. I hope there is time, if not God Bless you all.

Go Ron Go

[farstarfilms]

My wife and I bought a house with 28 acres approx 6 yrs ago last year we

> decided to sub-divide and sell 22 acres, basically open farm

> land. initially we wanted to build our dream home there but too expensive

> with bringing utilities across the creek etc.

[farstarfilms]

We the house with the land

> for 285k back in 2004. And sold the sub-divide land, 22 acres for 140k to

> a builder. There a bit more, before the bank agreed to sub-divide we had

> to put 28k down and of course foot the expenses for sub-dividing etc. Can

> you tell me based on this semario what my capital gain taxes were be?

>

> Thank you,

>

>

[gerasolorgarcia]

this ignorant parrot.

[JesusNonEnviromental]

Wow, the American people are to blame for this and some banks according to Geithner and he said nothing about the Federal Reserve, the Federal Regulators, the oversight committees, Fannie Mae and Freddie Mac, the Rating companies, No he mentioned them bad Americans who took out equity loans in a housing bubble created by the Fair Housing Act of Bill Clinton, they should have known better and studied derivative markets and securities and they would have seen this coming

[solgoode1]

this guy is a cock knocker

[RKane4u]

Tim "Turbo Tax Cheater" Geithner! What a farce!