On the recordMay 9, 2003
jobs, jobs, jobs. Two years ago the Republicans in Congress passed a tax cut totaling $1.3 trillion, and that bill was to stimulate the economy, create jobs, get this country moving again, $1.3 trillion. And you know what happened? We lost 2 million jobs in this country. So now the Republicans have another way to create jobs and that is another tax cut bill. This one totals about $1 trillion if you add up the true cost of the bill. The problem with that is 70 percent of the benefits are going to go to the richest 5 percent of households in the country. And you do not create jobs by giving rich people capital gains breaks, profits in stocks and bonds or on dividends. That is not going to create jobs. The only thing that this bill is going to stimulate, the only thing that is going to be stimulated with an election next year is campaign contributions to those who support it.
Source
govinfo.gov
