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Robert Rubin Suggests Tax Increase
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ShareNovember 10, 2006 1:30 PM
ABC News' Jessica Yellin Reports: Tony Snow was asked about former Treasury Secretary Bob Rubin's support for a tax increase at the daily press briefing.
Yesterday Rubin said "You cannot solve the nation's fiscal problems without increased revenues" and "I think if you were to increase taxes right now, you would have probably about zero negative effect on the economy."
Snow repeated the administration position that the deficit is down (note: though not in surplus, as it was for several years under Clinton) and not bad as a percentage of GDP.
But here's something worth noting:
The national debt yesterday November 9, 2006 was $8,603,666,041,634.58
The national debt when Bush took office January 20, 2001 was $5,706,174,969,873.86
November 10, 2006 | Permalink | User Comments (2)
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How about a Energy Independence Tax - $1 a gallon on gas.
Posted by: Josh | Nov 10, 2006 5:16:56 PM
So, famous Clintonite is proposing to incrase taxes. What is new? Regarding surplus during Clinton's time. Increase tax 10fold and you will have surplus. But let me ask: how many cars were sold or how many homes were bought at that time? I wish George Bush would ask voters this question and maybe we would see different result. SamOryol
Posted by: Sam Oryol | Nov 10, 2006 11:36:49 PM
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