Geithner Sees No Evidence Tax Cuts Pay for Themselves

U.S. Treasury Secretary Timothy F. Geithner said tax cuts don’t pay for themselves in economic growth, and he urged lawmakers to let the reductions for the wealthiest Americans expire.

Geithner dismissed the “long-discredited idea” that tax cuts generate enough growth-related income to offset their fiscal impact, in a speech in Washington today at the Center for American Progress, a policy research group run by John Podesta, an adviser to the Obama administration. “There is absolutely no evidence to support it,” he said.