In the video below, Mitt Romney, Dick Cheney & GW Bush all talk about tax cuts and the effect Tax Cuts have on the US Economy.
You'll notice that in 2008, 7 years after the first Bush/Cheney Tax Cuts, the US Economy melted down and George Bush publicly acknowledged that his Tax Cuts had created a situation "greater than the Great Depression."
BUSH: "For those of you who followed my career, know that I'm a free market person, until you're told that if you don't take decisive measures then it's conceivable that our country could go into a depression greater than the Great Depression."
GW Bush, September 2008
Also in the video, September 2003, Dick Cheney acknowledged to Tim Russert that after a mere 32 months of the first Bush Tax Cuts taking affect, the US Economy had already begun to nose dive.
First 32 months of first Bush Tax Cuts
RUSSERT: Mr. Vice President, the economy and the Bush-Cheney record. The day you took office, Inauguration Day, as compared to now.
Dow Jones is DOWN 11%.
Unemployment rate is UP 49%
A $281 Billion SURPLUS is now a $500 Billion plus deficit.
Jobs, net LOSS of 2.6 Million.
The Debt is UP 20% and still growing.
How can you run for re-election on that record?
Sept 14, 2003 Interview on Meet the Press
In the same interview, Dick Cheney admitted that at that time, the Bush Tax Cuts accounted for 25% of the Deficit and that the country was seeing huge deficits into 2013 due to the Bush Tax Cuts.
MR. RUSSERT: "The president [Bush] 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"
DICK CHENEY: "Tax cuts accounted for only about 25% of the deficit."
MR. RUSSERT: "But we see Deficits for the next 10 years [into 2013], big ones."
DICK CHENEY: "We anticipate even with the added spending that we’ve asked for now we’ll cut the Deficit roughly in half from where it’ll be next year over the next five years.
"
Sept 14, 2003 Interview on Meet the Press
At the time, in 2003, there was a lot of talk of freezing the Bush Tax Cuts for the Top 1% which would have paid for the Iraq War -- when Tim Russert asked Dick Cheney about that idea swirling in DC, Dick Cheney told Russert he thought that would be a mistake.
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?"
DICK CHENEY: I think it’d be a mistake.
Sept 14, 2003 Interview on Meet the Press
The point to this video:
Tim Russert proved that within 32 months of the first Bush Tax Cuts, the US Economy had been wrecked by the Bush Economic Advisors who ushered in the Bush Tax Cuts.
This video also highlights that we have Mitt Romney and Romney's Advisors, who were Bush/Cheney's failed Advisors, promising to continue with their failed Bush/Cheney Tax Cut policy but -- this time -- they want to add an additional 20% Tax Cut on top of the already proven to be failed Bush Tax Cuts.