Representative Mike Pence on Bush-Era Tax Cuts and Monetary Policy

Representative Mike Pence joined Greta Van Susteren on the Fox News Channel's "On the Record" to discuss the Bush-era tax cuts, quantitative easing, and the potential impact on the US economy. Pence urged Congress to make all current tax rates permanent, citing concerns that higher taxes would hinder job creation and economic growth. He also expressed opposition to the Federal Reserve's quantitative easing program, arguing that it could lead to inflation and devalue the dollar.

Key Takeaways:

• Representative Mike Pence advocated for making all current tax rates permanent, citing concerns that higher taxes would hinder job creation and economic growth.
• Pence opposed the Federal Reserve's quantitative easing program, arguing that it could lead to inflation and devalue the dollar.
• The average American family would face a tax increase of $1,500 per family if Congress fails to act on the tax cuts, resulting in the largest tax increase in American history.
• Pence believes that tax cuts are essential for economic growth and job creation, citing the phrase "what you tax, you get less of."
• The representative views the recent election as a rejection of American liberalism and the Obama/Pelosi agenda on Capitol Hill, including higher taxes.
• Pence reiterates that higher taxes won't get anybody hired, emphasizing the importance of extending all current tax rates permanently.

Statistics:

• $600 billion: The amount authorized by the Federal Reserve for purchasing bonds through quantitative easing (QE2).
• $3.9 trillion: The tax increase that would result from failing to make current tax rates permanent, affecting the average American family by $1,500 per family.
• 2001: The year the Bush tax cuts were introduced.

Sources:

• Fox News Channel's "On the Record" with Greta Van Susteren.
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