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Timothy Geithner: GOP to Blame for Economic Problems

Tom Williams/CQ Roll Call File Photo

Following news reports that the president paid a tax rate of a little more than 20 percent, less than his secretary, Axelrod indicated the president had no intention of donating extra money to the Treasury, saying that’s not how the tax system works and that it’s the larger system Obama seeks to change.

On the Buffett Rule, Geithner said on “This Week” that it would not further damage the economy. “Remember, the effective tax rates on the richest Americans today are at the lowest point they’ve been in a very long period of time,” he said. “And I think there’s no credible argument that asking them to pay a modestly higher share of their income taxes would be damaging to economic growth, particularly relative to the alternatives.”

Also on “Fox News Sunday,” strategist Ed Gillespie, who has recently signed on as a senior adviser to Mitt Romney’s campaign, said that the former Massachusetts governor would gain traction with women and minority groups, whose support he has struggled to attain, with his economic proposals that would help lift all people “out of poverty.” Gillespie added that Romney’s vision for the country is one of a “dynamic, pro-growth economy based on free enterprise.” He also defended Romney’s filing for an extension for his 2011 tax returns as not out of the ordinary.

Gillespie also responded to a news report that said he had been tasked with spearheading Romney’s search for a vice presidential candidate and that one would be selected soon. “It was news to me,” he said, adding that his focus during his short time with the campaign had not been on finding a running mate and did not know the timeline for the search.

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