HUNT: Let me talk about the Obama administration and business. Corporate profits are soaring. Goldman Sachs named 110 new partners. Bonuses are flowing. S&P has risen more than in any three-year period since the tech bubble. General Motors is — the IPO. This isn’t an anti-business administration, is it?
KYL: I would contend that, for the last two years, it’s been highly anti-business. Some of the results that you just talked about, I suspect, are coming from the fact that we extended tax rates that the president did not want to extend, but was willing to do so at the end of the year last year.
HUNT: But, of course, all these things happened before that.
KYL: No, all these things are, I think, partially a – a result of the knowledge now that taxes are not going to be raised in the next two years.
What I expected was that, as the economy slowly improves over the next two years, Republicans would attempt to take credit because of their new majority in the House. What I didn't expect was that they'd try to take credit retroactively. Puh-leeze.
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