Official portrait of United States Secretary o...

Official portrait of United States Secretary of the Treasury Timothy Geithner Español: Retrato oficial de Secretario del Tesoro de los Estados Unidos Timothy Geithner (Photo credit: Wikipedia)

Video: Geithner Calls Republican Bluff On Raising Taxes – NBC’s Meet The Press

On Sunday’s “Meet the Press,” Treasury Secretary Timothy Geithner said that Republicans would eventually agree to “modest revenue increases,” to avoid another economic calamity.  Part of this agreement would include, according to Geithner, raising taxes on the wealthiest 2% of Americans to at least their pre-Bush levels.  If congressional Republicans don’t “step-up,” Geithner says they will be to blame for not avoiding the fiscal cliff.
Meanwhile, U.S. House Speaker, John Boehner (R – OH), continued his opposition to any tax-hikes, and says that he will do everything he can to avoid going over the cliff and hopes negotiations will continue this week.  While the outcome of the ‘Fiscal Cliff’ negotiations remains unclear, the once steady wall of Republican resistance to any tax increases appears to be crumbling; polls show that most Americans favor increasing taxes on the wealthy, and a few republican congress members have publicly stated they would be willing to compromise on the issue.

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