World News Tonight (ABC) - 1991-11-22
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Read a transcript preview of “World News Tonight (ABC) - 1991-11-22” from malgent, uploaded on 2025-11-16.
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Language: English (original, YouTube automatic captions)
[0:00] Thanks.
[0:00] >> We'll see you then.
[0:06] >> From ABC, this is World News Tonight
[0:09] with Peter Jennings.
[0:10] >> Good evening. We begin tonight with the
[0:12] high voltage politics of the economy.
[0:14] The debate between the Bush
[0:15] administration and the Democrats who
[0:17] think they have finally fallen onto a
[0:19] live issue for next year's presidential
[0:21] election. Iowa's Democratic Senator Tom
[0:23] Harkin, who is running for his party's
[0:25] nomination, said today, "What the
[0:27] economy needs is not a jump start, but a
[0:30] new battery." The Democratic leader in
[0:32] the House of Representatives, Richard
[0:33] Gard, said the president doesn't have a
[0:35] domestic agenda. He just vetos
[0:37] Democratic proposals. For his part, the
[0:40] president says the Democrats in Congress
[0:42] won't look at his proposals. We asked
[0:44] our White House correspondent, Brit
[0:46] Hume, to begin this evening with a
[0:47] closer look at the president's argument.
[0:50] It has become a familiar refrain in the
[0:52] president's speeches.
[0:53] >> I've been pressing the Congress for a
[0:55] real growth package.
[0:57] Started in my first State of the Union,
[1:00] second State of the Union, third State
[1:03] of the Union.
[1:04] >> Indeed, last January, the president did
[1:06] ask Congress for a set of economic
[1:08] growth measures, mostly tax incentives.
[1:10] The centerpiece is the cut he's long
[1:12] wanted in the tax on capital gains,
[1:15] which are the profits from the sale of
[1:16] stocks, real estate, or other
[1:18] investments. Such income is taxed the
[1:20] same as any other and the administration
[1:22] thinks that discourages investment.
[1:25] Critics say cutting the tax would simply
[1:26] reward the rich. T