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Van Hollen: This Story That Tax Cuts For The Rich Creates Jobs Is Just Nonsense

Chris Van Hollen actually did a pretty good job of calling out the Republican lies about the Bush tax cuts helping to create jobs in the United States and that it is not going to hurt many actual small businesses. When Van Hollen asks Mike Pence to
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Chris Van Hollen actually did a pretty good job of calling out the Republican lies about the Bush tax cuts helping to create jobs in the United States and that it is not going to hurt many actual small businesses. When Van Hollen asks Mike Pence to respond to his points, Pence just completely ignores what he said and counters with saying we should have even more tax cuts for all businesses. David Gregory of course allowed him to just mindlessly continue blathering the GOP talking points for the day instead of responding to Van Hollen's points.

GREGORY: Key question. Hold on, Congressman, I’ll get right back to you. But I want to ask this key question. In this Pledge to America that we’ll talk about in greater detail in just a moment. Is this commitment to bringing down the deficit, as well as extending the tax cuts. How do you answer the charge from Democrats, from the President, as well, that you don’t have a way to pay for extending the tax cuts, and yet, you’re committed to deficit reduction?

PENCE: Well, look in the Pledge to America, which I look forward to chatting about, we say, "Look, we’ve got to do something to get this economy moving again." We give real and meaningful proposals to begin the process of reigning in runaway federal spending by both political parties.

GREGORY: But how do you pay for the tax cuts, is the question?

PENCE: And reforming the government. Look, job one needs to be to create jobs. The American People know the last thing you want to do in the worst economy in 25 years is raise taxes on small business owners and family farmers. We have to vote before Congress adjourns for the political season, the fall elections, on an up or down vote. More than 30 Democrats support extending all the current tax relief and we’re calling on Speaker Pelosi and leaders like Chris, "Give us an up or down vote. Let the Congress work its will. Give the American People certainty…

GREGORY: Congressman, Van Hollen go ahead.

PENCE: …there will be no tax increase.

VAN HOLLEN: David, this notion that Mike’s talking about, that you need to have these tax breaks for the very top to create jobs and economic expansion. Mike, those tax rates are in effect right now. They’re in effect right now. I don’t see all this job creation as a result of those tax cuts. They’ve been in effect for nine years. At the end of those nine years, we’ve seen losses of millions of jobs. So, this story that somehow those breaks for the very folks at the top, create these jobs is, is just nonsense. And I want to make on other point, because…

PENCE: But there’s no other question…

GREGORY: Well hold on, Congressman go ahead.

VAN HOLLEN: One other point. They tried to mask this as an issue with small businesses. Well, it turns out that only two percent of small businesses are affected. And when you look at the definition of small businesses, you find that they’re big hedge funds, big Washington lobbying firms, K.K.R., Price Waterhouse. Because under the definition of tax code, anything that’s an S-Corporation qualifies. So, I want Mike to tell us whether he really believes that K.K.R., whether Price Waterhouse, whether those are the kind of "small businesses" that need help. Because that’s the folks that they’re trying to help out.

GREGORY: I want to ask a different question about taxes.

PENCE: Wait a minute. I want to respond to that. I think he makes a very good point.

GREGORY: Okay, go ahead.

PENCE:If the current tax relief was enough to get this economy moving again, the economy would be moving. And it’s not. What Chris and the Democrats in Congress and the Administration continue to insist on is a tax increase in January of 2011. But I want to stipulate to the point. That’s why Republicans in the Pledge to America call for a 20 percent business deduction on all business income, immediately, to be voted on in this Congress. We think there needs to be more pro-growth tax relief to get the economy moving again. But for heaven sake, let’s not raise taxes on job creators.

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