Nixon White House Tapes — Conversation 768-002
Date: Monday, August 14, 1972 at 8:45 AM
Participants: Nixon, Richard M. (President); Buchanan, Patrick J.; Bull, Stephen B.
Recording device: Oval Office
Source: https://www.easynixon.org/tapes/768-002

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Do not cite it as authoritative.

[0:07] This memorandum is written to all for the purpose of jacking up the status as much as it is intended to.
[0:15] I have a lot of questions.
[0:17] I can give the responsibility for writing that.
[0:39] I then began to make fights, which I assumed would be covered very precisely in the economic actions prepared by Erskine and the National Council.
[1:05] All three of the
[1:08] who had studied the economic sheets.
[1:11] And frankly, more often than I did, said that while the whites were covered, they weren't covered in as dramatic and effective a fashion as I had laid it out.
[1:23] This really surprised me, because I thought I had made the same points the leaders made, and also that it cost something else to me.
[1:31] In a nutshell,
[1:36] but on one piece of paper that's covered the following points.
[1:44] One, the second, the economy of the United States at this time has a higher rate of growth than that
[2:15] don't put this in the I based this on where I asked a specific question, and he said that that was correct.
[2:37] Just for back on the trail.
[2:47] It is 80% to 90%.
[2:51] Japan, 5%.
[2:52] England, 5%.
[2:54] Germany, 5%.
[2:54] France, 5%.
[2:54] Italy, France.
[3:17] So that's our new economic policy.
[3:22] The real spendable earnings, or real wages, i.e., wages after taxes and increases.
[3:52] increased 5%.
[4:01] This compares with the period from 1966 through 1969 when there was virtually no increase whatever in real income for Americans' wages.
[4:25] Increases in taxes and prices data.
[4:31] That's right, increases in prices data.
[4:34] Virtually all the increases in wages that waiters receive in that period.
[4:40] We finally have the American worker bottom of the inflation credit bill.
[4:49] And now he's making real gains against the price of the free.
[4:56] The increase in America's growth are demonstrated by these facts.
[5:11] It's a paragraph one.
[5:13] Every year, the American economy grows a new people.
[5:17] Every year, the American economy grows a new people.
[5:22] Every year, the American economy grows a new France, etc.,
[5:26] Every two years, the American economy grows.
[5:35] Now, I am only simply putting this in for guidance.
[5:39] I know, for example, our economic growth this year by a factor of approximately $910 billion.
[5:45] I am sure that that is more than
[5:55] I'm sure your facts are right, and I put them in in a way that will grab people.
[6:32] We have cut the rate of inflation in half over the past two years.
[6:42] The rate of inflation in the United States
[6:53] He's supposed to.
[7:26] land, Europe, Germany, etc.
[7:29] Finally, the fifth question.
[7:48] The people of the United States are by far the best people in the world.
[7:53] And yet,
[7:57] people in the United States pay less, a smaller percentage of their average tax dollars on food than any people in the world.
[8:06] For example, in the United States, the average person pays $0.15 out of each average tax dollar on food.
[8:21] In Britain, he pays $0.25 a turkey, but it's bigger than that.
[8:29] Donna, it's 60%.
[8:37] That's the end of the memorandum.
[8:40] I would like for you to get these backs up.
[8:46] If you can, .
[9:22] End of tape.