Daily Kos Vice President Cheney Admits Bush Tax Cuts do NOT create jobs

[kpete]

Source: Daily Kos

Vice President Cheney Admits Bush Tax Cuts do NOT create jobs
Sun Dec 05, 2010 at 09:48:08 AM PST

September 2003 - In an interview with Tim Russert, VP Dick Cheney admitted that Bush Tax Cuts do NOT create jobs. In fact, Cheney admitted that 2.6 Million jobs were LOST between 2001-2003 under the "W" Tax Cuts.

Vice President Dick Cheney also admitted that the Bush Tax Cuts created:

* Dow Jones down 11%. * Unemployme­­nt rate up 49%. * $281 billion surplus now a $500 billion deficit. * Jobs, Net Loss of 2.6 Million.

Dick Cheney also admitted that the "W" Tax Cuts "account for 25% of the deficit."




Read more: http://www.dailykos.com/story/2010/12/5/925763/-Vice-President-Cheney-Admits-Bush-Tax-Cuts-do-NOT-create-jobs

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Here is the transcript:

RUSSERT: Inaugurati­­on Day as compared to now. * Dow Jones down 11%. * Unemployme­­nt rate up 49%. * $281 Billion Surplus now a $500 Billion Deficit. * Jobs, Net Loss of 2.6 Million.

CHENEY: "...The president’s policies in terms of the tax-cut package does offer very bright prospects for the future. The forecast by nearly everybody I’ve talked with for the last half of this year is we're looking at 4% to 5% real growth"

RUSSERT: If you froze the tax cut for the Top 1% of Americans, it would generate enough money to pay $87 Billion for the war, if you did it for just ONE year.

CHENEY: I think it’d be a mistake ... An awful lot of the returns in that top bracket are small businesses­­, and they provide a lot of the job growth in this economy.

RUSSERT: The president said in 2002 the Tax Cut would generate 800,000 jobs;
In 2003, he said—be another Million jobs.
None of that has happened.
What has happened is the deficit is skyrocketing, over $500 Billion.
You used to be a real deficit hawk.

CHENEY: I am a deficit hawk. The fact of the matter is, we’ve always made exceptions for recession, national emergency, time of war.

RUSSERT: What about the tax cuts.

CHENEY: Tax cuts accounted for only about 25% of the deficit.

[Oceansaway]

1. K&R...n/t

[emulatorloo]

2. Good Find. thanks for posting it. n/t

[3waygeek]

3. Cheney's a deficit hawk?

the same guy who said back in the Reagan era that "deficits don't matter"? Jon Stewart should have fun with that on the Daily Show this week -- that's almost McCainesque in its flip-flopishness.

[vanlassie]

25. Yeah, and WTF is RUSSERT doing giving him this false lable???

[indimuse]

4. KNR! n/t

[indimuse]

5. KNR! n/t

[saras]

6. So what else is new?

When he's on the spot, he lies - he says whatever he thinks will accomplish his goals.

When he's got nothing to lose, he's okay if the whole world overhears him telling the wealthy how well he's done. The deficit is how much money America owes the wealthy. He's telling them the Bush tax cuts worked. Likewise with unemployment - the more unemployment, the more pressure for lower wages. Now that it doesn't cost him anything, he's happy to brag of this accomplishment to his peers.

Hasn't anyone who's actually observed neocons in action noticed that they have behaved this way for decades? As Irving Kristol explained, "There are different kinds of truths for different kinds of people. There are truths appropriate for children; truths that are appropriate for students; truths that are appropriate for educated adults; and truths that are appropriate for highly educated adults, and the notion that there should be one set of truths available to everyone is a modern democratic fallacy. It doesn't work."

[vanlassie]

8. +

[molly77]

15. saras

The biggest chicken of the chicken deficit hawks...is so mentally unstable he tells the truth....This is a huge find and should be all over the internet. Just as the republicans in DC are trying to do away with anything remotely good for the American people...

If anything, maybe it will take Cheney's daughter off of Sun. morning political shows , posing as an authority on everything.

[axollot]

33. UGH. makes me ill. Sad thing is this arsehole is telling the truth -

this *IS* how the US behaves and believes. Everything must be secret because we as peons would not understand.

Do I think there is ever a time for state secrets? Yes actually, I can see very easily how we would have to play our cards close to our chest. But that should be done only to benefit us as a nation not a specific political figure or business.

It should never be done to keep us willfully uninformed while they rake the $$ in.

If we insist upon campaign finance reform in DC - take the $$ OUT OF DC. That is the ONLY way we'll get our democracy back. CU made sure that the money noise would be so loud that no decent politician can get elected unless they are in bed with the corporations and willing to give them what they want.

30yrs ago the 'iron curtain' fell on Russia. It brought down the Berlin Wall. Isnt it time the false democracy, wrapped in the flag - with worthless and wrong chants of being #1 fell too? It's time for OUR curtain to fall.

Cheers
/rant off ;)
Sandy

[aquart]

7. And yet we do not hang him.

We deserve what we get.

[alp227]

9. So shouldn't this clip be played before the Congress?

This was from the September 14, 2003 edition of Meet the Press. I can't find a video for it though.

[avaistheone1]

11. Yes,

play it before Congress. Let the republicans drown in their hypocrisy.

[caseymoz]

10. What a horrible flashback! Please, EX-Vice President Cheney.

Or maybe the problem now is that he really is still in power.

[LoisB]

12. Dick Cheney

Ah, but therein lies the difference: Tim Russert vs David Gregory.

[PatrynXX]

13. Hence why he ended up saying the deficit doesn't matter.....

grrrrrr


If it doesn't work make it fit anyway.

[Beartracks]

14. Thus: Constant War = Perfect cover for tax cuts to rich.

Republicans always have some excuse for why their policies fail to provide the American dream:

"Well, it would have worked if it hadn't been for the recession*, national emergencies, time of war... and those meddling kids."

Like Bob Herbert said: “Waging unwarranted warfare while radically cutting taxes for the wealthy and turning the national economy into the equivalent of a Ponzi scheme may be evidence of many things, but none of them have to do with the so-called conservative principles the G.O.P. is always braying about.”

* And what caused the damn recession in the first place, hmm?


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[Vinca]

16. Cheney's nurse must have slipped him some truth serum.

[JackRiddler]

17. Dick Cheney is now Vice President of Daily Kos?

Jeez, I knew that site had a lot of right-wing tendencies, but this is really surprising.

[Bolo Boffin]

18. It scares me that this was my first thought on reading the headline, too, Jack.

Get out of my head!! :D

[JackRiddler]

19. Moulitsas-Cheney 2012.

Because You Don't Get It.

Confusionism For America.

Unity Is Strength.

Etc.

[XanaDUer]

20. ROFL

There should be a colon between Daily Kos and Vice President Cheney for clarity. I thought Old Deadeye Dick bought it up for a second and was Fox-ing it up.

:rofl:

[samplegirl]

21. Cheney never even pretended

He boldly let us know he was for himself!

[sarcasmo]

22. Trickle down doesn't work, imagine that, DICK!

[Solly Mack]

23. k/r

Cheney admits to a lot of things...

[WhaTHellsgoingonhere]

24. Seems like the folks at NBC were well aware of this years ago...

Does NBC have an interest in protecting the status quo, too?

Hmmm...

[vanlassie]

27. Little Russert Junior next in line to pay his masters.

[WhaTHellsgoingonhere]

32. These relationships at NBC appear to me to be conflicts of interest

Andrea Mitchell is the wife of Alan Greenspan.

Jack Welch, proud father of outsourcing jobs to India, was Chairman and CEO of GE, the parent company of NBC.

David Gregory's wife served as Fannie Mae's executive vice president, general counsel and corporate secretary from February 2006. She bolted and resigned her position at Fannie Mae along with three other senior executives on September 19, 2008, after the troubled mortgage giant was taken over by the government.

Mike Barnicle's wife is the chief marketing officer and Northeast president of Bank of America, which received TARP funds.

[malaise]

26. Send this to KO and Rachel

Great find.

[defendandprotect]

28. Tax cuts for rich "only counted for about 25% of the deficit" -- !!!

[spanone]

29. anybody with a brain knows that the bu$h* tax cuts did nothing for jobs...nothing

[Stringertom]

30. 1 more bullet, er, buckshot round in the barrel for tax cut expiration

C'mon 44, even Cheney admits tax cuts don't equal jobs creation! Call GOP bluffs by letting all tax cuts expire if necessary. It will not produce the dreaded double-dip. You'll be strong for a change, the debt will be reduced a bit and we can all move on to making a more realistic economy work just a little better. Go Aretha on us and earn a little R E S P E C T! I play a little poker in my spare time and you, my Thin Man, have to regain chip count right now to survive. Stop trying to get re-elected and you might get re-elected.

[progressoid]

31. This isn't news. They all know it didn't create any jobs.

This sack of shit just let it slip and said it out loud.

If the media actually did it's job they could push the people in congress about it too.

If...

[paparush]

34. No shit, Sherlock. The rich hoarded their wealth at historical levels..

and left the rest of us fighting of the crumbs.

[spanone]

35. for dick & his cronies, it creates wealth

[budkin]

36. Only about 25%. LMAO

[Execlib]

37. Tax cuts and the wealthy.

The tax cuts are just another cash cow for republicans.

The wealthy don't hire, they donate--to right wing bilge pumps and causes.

And, it has been declared their 1st amendment right.

[eilen]

38. Cheney: yeah, they don't help-- So what? nt

[russspeakeasy]

39. The Democrats could play this clip for congress, but only

after they ask the rethugs to edit it..