- MR. RUSSERT: If you froze the tax cut for the top 1 percent of Americans, it would generate enough money to pay for the $87 billion for the war, if you did it for just one year. Would you consider that?
- VICE PRES. CHENEY: I think it'd be a mistake, because you can't look at that without considering what its impact would be on the economy. An awful lot of the returns in that top bracket are small businesses, and they provide an awful lot of the job growth in this economy. If you're going to go increase taxes on small businesses, you're going to slow down the extent to which we're able to reduce unemployment. So I think it's a serious mistake; the wrong time to raise taxes.
If they keep saying it they think that people will believe them. How many small business owners are in the top one percent? Not many. How many hairdressers do you know that are multi-millionaires? Carpenters? Plumbers? Daycare owners? The vast majority of American small businesses are these types of jobs, and they won't benefit from the Bush tax cuts.
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