On This Date in Bush History 12/6: Gifts to the...

On This Date in Bush History 12/6: Gifts to the Rich

2002: Bush Treasury Secretary (and former Alcoa head) Paul O'Neill resigns today. A book on O'Neill by former Wall Street Journal reporter Ron Suskind, sheds light on today’s resignation. O'Neill was Suskind's primary source.

In a ‘60 Minutes’ interview Suskind describes a White House meeting discussing yet another round of tax cuts for the wealthy. President Bush, surprisingly, expresses hesitancy. As Suskind describes it, Bush asks: " 'Haven't we already given money to rich people? This second tax cut's gonna do it again. Didn't we already, why are we doing it again?' After a bit Bush comes back to it again, saying 'Well, shouldn’t we be giving money to the middle...' ". Suskind continues: "Karl Rove is saying to the president, a kind of mantra. 'Stick to principle. Stick to principle.' He says it over and over again. Don't waver".

O'Neill's opposition to more tax cuts for the wealthy gets him in trouble with the VP. Dick Cheney responded to O’Neill’s opposition by saying, "We won the mid-term elections, this is our due". The tax cuts went through. When O'Neill said that he couldn't support them in light of the soaring deficit and the expenses of a post-9/11 America, Cheney asked O'Neill to resign.

As for Mr. Cheney's well-off friends, they got, yet again, what they consider to be their due. America's kids will get the bill.

"Poverty wants some things; Luxury many things; Avarice all things." Benjamin Franklin, Poor Richard’s Almanac, 1735

Read more in the 2008 Calendar/Day Planner/Stocking Stuffer: "Poor George's Almanac"

Comments: 4

Juan J Martinez Dec 6, 2007, 11:16am EST

The rich own the White House and the current Administration. They payed enough to get Bush re-elected. Now he and Chaney are forced to repay them back.

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Doyle ( IS SOOO 7 for 7 soon... ) C. Dec 6, 2007, 2:07pm EST

...And while America's kids will get the bill sounds good . . . by vetoing health coverage . . . it should read that those children who live will get the bill . . . and they can pay for the illegal invasion, occupation . . . and all the military misuse at the same time. The mantra of these criminal SOBs is that Government screws up everything - let privatization deal with it . . . and once IN the Government, they have done virtually everything they can to prove that Government screws up everything it touches.

Regards,
Doyle I <~~~~~

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