Treasury Secretary Tim Geithner said that allowing tax cuts for the wealthy to expire would be "the responsible thing to do."

This is the last year for the tax cuts enacted under President George W. Bush. Republicans have generally favored extending all of them. While Democrats are divided on the issue, President Barack Obama has favored allowing the expiration of cuts he says have applied to the wealthiest people.

"It's responsible to let the tax cuts expire that just go to 2 percent to 3 percent of Americans, the highest earning Americans," Geithner told ABC's "This Week" in an interview broadcast Sunday.

Does Geithner really have any credibility to weigh in on any debate regarding taxes?