Treasury Secretary Timothy Geithner appeared on CBS’s “Face the Nation” on Sunday and went after remarks made by Mitt Romney, who said that women make up the majority of the jobs lost during Obama’s first term. Geithner called the assertion “misleading and ridiculous.”
Host Bob Shieffer asked for Mr. Geithner to confirm Mr. Romney’s job loss statistic. Geithner hit at the Bush administration as well at state budget cuts for the job loss among women.
“It’s a meaningless way to look at the basic contours of the economy in that period of time, again because it starts artificially at a time when the President came into office and the crisis was still building momentum,” Geithner responded.
The Romney campaign’s Andrea Saul wrote in an e-mail to CBS, in regards to Geithner’s remarks:
“If they move the starting point to the beginning of their so-called recovery, they will find women have benefited from less than one-eighth of the meager job creation,” spokesperson Andrea Saul wrote in an email. “The President should stop making excuses for his failures - he is entitled to his own spin but not his own facts.”
Geithner discussed the “Buffett Rule.” He told Shieffer the administration believes a 30 percent tax on those making one million or more a year is a “balanced” way to bring the economy back.
President Barack Obama pushed the “Buffett Rule” on the stump last week and attached President Ronald Reagan to it.
“Some years ago, one of my predecessors traveled across the country pushing for the same concept,” Mr. Obama explained. “This president gave another speech where he said it was ‘crazy’ — that’s a quote — that certain tax loopholes make it possible for multi-millionaires to pay nothing while a bus driver was paying 10 percent of his salary.”
“That wild-eyed socialist, tax-hiking, class warrior was Ronald Reagan,” Obama added.
Americans for Tax Reform President Grover Norquist responded to Mr. Obama’s remarks last week on Washington D.C.’s WMAL’s Morning Mall radio program, saying:
“What Reagan was referring to was a tax code with lots of deductions and credits and in a revenue neutral way not to raise a single additional dollar for the government in 1986. And ATR was helped formed by Reagan, and he asked us to help him to enact that law. That was—don’t raise taxes and reduce marginal tax rates”
“The top marginal tax rate went from 50 to 28 with left wing Democrats screaming the whole way. Ted Kennedy and others were attacking the idea of reducing marginal tax rates on everybody, so we ought to be for eliminating deductions and credits and reducing rates. What Obama is saying he wants to do is just raise taxes…. it’s moving in the exact opposite direction than where we ought to go and certainly in the opposite direction than where Reagan was going.”