In a long, roundabout interview on The Daily Show Wednesday night, Jon Stewart repeatedly pressed Indiana Governor Mitch Daniels (R) to explain how tax cuts for the wealthy would boost the economy. And in the end, Daniels conceded that tax cuts alone wouldn’t do the trick.
“My own view is that the problem is so large and so urgent that there is no one magic answer you’re not gonna hear me say that cutting tax rates is some panacea,” Daniels said. “Not at all.”
Stewart spent much of the 20-minute interview trying asking Daniels to explain how tax cuts create jobs, and asking him why Republicans so vehemently oppose President Obama’s proposal to let the Bush tax cuts expire. Hearkening back to the Bush tax cuts, Stewart asked why the economy didn’t see a huge spike in jobs in the early 2000s.
“How much wealth do they have to absorb before they make it rain [jobs]?” Stewart asked.
Daniels countered that Obama had an, “obsession with the wealthy,” and said that he was using rich-bashing as a distraction from the real problem. He also rebuffed Stewart’s question about tax rates, saying that he believed it just makes sense that low taxes are the best way to ensure that the private sector has the resources to create jobs. However, he also added that low taxes alone were not enough to rescue the economy, and that the government had to drastically alter its spending habits, including a restructuring of entitlement programs, as well.
Watch the video below:
The Daily Show With Jon Stewart Mon – Thurs 11p / 10c Exclusive – Mitch Daniels Extended Interview Pt. 3 www.thedailyshow.com
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