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Nov. 16, 2005 - Rush Limbaugh Program
36:26
November 16, 2005, Wednesday, Hour #3
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Welcome back to the Rush Limbaugh program.
Welcome back to the Limbaugh Institute for Advanced Conservative Studies.
We are going to have to keep an eye, ladies and gentlemen, on the Congress, both parties.
Let me give you a couple of previews here.
I don't know whether the prosecutor, Mr. Fitzgerald, has seen this one yet, but in a city, Washington, D.C., that operates on leaks.
I mean, this is the uh this is the way people communicate.
Uh there's going to be a prosecution of one of the 10,842 leaks that occurred that week.
Uh here's another one that occurred that, well, seems more serious to me.
Let's see what you think.
It involves Senator John D. Rockefeller IV of West Virginia.
Now I don't know whether inbreeding is a factor here.
I'm not going to get into the personal or DNA aspects of this, but just to tell you the actions of this man and you can make your own conclusions.
Senator John D. Rockefeller IV of West Virginia.
This is a senator, by the way, just to set the stage, and trusted with classified materials.
He is on the uh he's the vice chair of the intelligence committee, but apparently not the vice chair of intelligence, if you know what I'm saying here.
Because he admits to Chris Wallace on Fox News Sunday, last weekend, and I'll quote him here.
We don't have the tape, but here's the quote.
Rockefeller says to Wallace, quote, I took a trip by myself.
Now, for first of all, in the first six words he's lying, no senator ever moves to the bathroom by themselves.
Okay, so here's there's the first lie.
I haven't even gotten five words into this.
I took a trip by myself in January of 2002.
Now note the time frame, right before the war with Iraq.
I took a trip by myself in January of 2002 to Saudi Arabia, Jordan, and Syria.
And I told, says Rockefeller, I told each of the heads of state that it was my view that George Bush had already made up his mind to go to war against Iraq and that it was a predetermined set course which had taken shape shortly after 9-11.
Unquote.
What?
Here's a senator of the United States Senate, the vice chair of the Intelligence Committee, admitting on Chris Wallace's program, a senator with special access to classified information that he provided a private briefing, a warning to Syrian president Bashar al-Assad that the invasion was coming.
Syria, of course, a country that's been on the State Department list of terrorist-sponsored organizations since 1979.
It was placed on that list by Jimmy Carter.
That's how bad they are.
Jay Rockefeller makes a trip by myself.
of A trip to Bashar al-Assad, the Syrian president, and warns him the invasion is coming.
Ladies and gentlemen, yesterday I was also disappointed to learn that Finance Committee Chairman Chuck Grassley, a Republican of Iowa, dropped from the new tax cut legislation the extension of tax cuts for capital gains and dividends beyond their expiration date of 2008.
They have a you know use by date of 2008.
And unless extended, as Art Laffer and other distinguished economists will tell you, unless these capital gain rates, 15%, the dividends treatment is unless that lower rate is extended, the markets will assume a higher rate.
A flurry of capital sales and so forth will take place between now and 2008.
But new investment in equipment and property and plants and of course in jobs would be deterred by the notion that a higher rate for Those monies would be uh would be expected after 2008.
So the Republicans have been trying to make permanent or at least extend the tax cuts that have generated this unbelievably prosperous economy.
And I know only about 24% of you, according to the National Polls, or 30-some percent, actually agreed that it's a prosperous economy.
I think some of you have actually become convinced that it never prospers unless a Democrat is in the White House.
The unemployment rate is at 5%.
5%, according to liberal economists, is full employment.
5% means people moving between one job and another.
Or prefer to live on cardboard in the street.
One or the other.
But this is what happens when a Republican goes south.
This in this case, as in many others, it's Senate uh Senator Olympia Snow of Maine.
Always called a moderate.
Always called a moderate.
What is moderate about removing the engine of job creation created by tax cuts?
Tell me what's moderate about that.
I find that to be illogical, unreasonable, and illiterate.
I can't apply moderate to it.
You are economically illiterate not to understand the boom created by lowering taxes.
Jack Kennedy did it, Harry Truman did it, Reagan did it, Bush is doing it.
In every case, Republican or Democrat, a boom followed the idea that we're going to leave more of the money you earn in your pocket to spend as you wish.
I don't know why people are surprised by that.
How can you be surprised by the notion that if you leave more money that you earn in your pocket, you will spend it on stuff and services and fun and uh kids choose and whatever, in order and that that will create jobs.
Why is that a mystery to people who are supposedly well educated?
Because it's as plain as day to most ordinary people.
It's not plain as day to Olympia Snow.
And Chuck Grassley, a good man, a good senator, had to back off.
And only you can make this happen, can create the the atmosphere for Congress in which tax cuts are made permanent.
Only you can do that.
And only you can fight back.
Here's another idiocy that I've this is one of my favorite hobby horses.
This is one of my favorites.
All-time favorites.
If you want to prove that liberals are crazy, I mean it's easy to do in a hundred ways, we've done a couple of them today.
Here's one of my favorites.
Attacking Walmart.
Now let me set the stage for you.
As I understand, and I'm not in Malmart too often, and we don't have one near my house.
I don't know why.
But as I understand it, Walmart is a place where you go to find a greater choice of higher quality products at a cheaper price than anywhere else.
Or most anywhere else.
And they have their own competitors, I understand.
And the competitors are trying constantly to improve those three things.
Greater choice, higher quality, lower price.
Liberals are against it.
I go, wait a minute.
Wait a minute.
Most people want greater choice, higher quality, and lower price, don't they?
How in the world could this be evil?
To have a place dedicated to the notion that you, as a consumer, ought to have a better choice, more choices, at a higher quality with a better price than anywhere else.
In fact, ladies and gentlemen, I'm so mystified by this, I'm going to put it in another way.
The same idiot I'm sorry, the same senators who are accusing the oil companies of gouging, and let's put aside the merits of that argument, I'll let Rush argue that one.
But the same senators arguing that the oil companies are gouging and therefore evil and therefore need a new $5 billion excess profits tax, which the Republicans are voting for, it's just amazing.
Let's assume that's good.
Wouldn't the opposite of that be praising and and and encouraging and supporting a company that is anti gouging?
Walmart is the anti gouging.
Their prices are cheaper.
Let me go slowly here.
Maybe something's not getting through.
Their prices are cheaper than other stores.
They are the anti-gougers.
So what is it, liberals?
If you gouge, you're evil.
If you don't gouge, you're evil.
What is that?
Can someone explain this to me?
I have missed something here.
By the way, apparently the consumers have not missed it.
The firm's economic impact, so often debated by mostly unions who want to unionize the workforce and drive up the prices.
I understand where they're coming from.
Believe me, I understand that unions would be better off if Walmart charged more and paid more to its workers.
All of whom I understand by reading the Liberal press are slaves.
They're forced to work there in miserable conditions, and they a gun to their head, they have absolutely no choice in the matter.
So I have a little bit of guilt when I go and shop and have cheap prices and high quality goods and lots of choice.
understand because I look at all I kind of pity in my eyes I look at the employees there they appear to be smiling and happy and and doing a fine job and and I know just deep inside they must be very suppressed because I've been told and I certainly agree and I certainly have to understand it that they're slaves that they've been forced at gunpoint to work there at and and and And if only they were unionized, they'd be liberated.
And they would be liberated to get much more money so they could pay all that money back in high dues to unions who could then uh get liberal wackos in public office.
So I understand the process.
Believe me, I'm not uh uh uh naive.
I am mystified, but I'm not naive.
I am mystified.
Walmart does not gouge consumers nearly enough.
It must be compelled to charge higher prices.
Then the company would never threaten those poor little mom and pop stores like uh Kmart and uh Kroger.
What is that all about?
If Kmart can't compete, or Kroger or Target or Target as we call it out here, or any place else, then you know, let them go out of business in a free society.
You are free to go out of business if you cannot compete.
You are free to go out of business if you don't offer me higher quality, more choice at a lower price.
Please go out of business, because I won't be there.
I'm gonna go to the store.
Uh perverted me.
I'm gonna go to the store where my dollar goes farther.
Hello?
Does this make any sense to anybody?
The left actually believes we ought to be condemning Walmart.
And they are supporting all kinds of ways to do that.
Here's one of them.
The family of a man suspected of shoplifting at Walmart, who died after struggling with Walmart employees, the family filed a lawsuit down in Houston, Texas, against Walmart, claiming that they've been grievously harmed.
They want damages.
Really?
The perp in question.
Uh let's see, what is his full name here?
They always have three names when they're perps.
Stacy Clay Driver.
Stacey Clay Driver, according to the Houston Chronicle, uh, was high on methamphetamine when he was uh trying to uh come back with goods that he'd taken and put a receipt sticker on them.
Uh he hadn't purchased them, but he was trying to get a refund.
Now it was so obvious, and of course, when you're on meth, all this looks logical to you.
See.
So high on meth.
He's down there, and so then he runs and they tackle him and he resists and they go through this thing.
Well, you know, his heart just gave out.
And uh I don't know how this is all gonna go, because I don't know all the details of this.
But how is Walmart to blame?
Is something that I just don't understand.
Walmart is to blame because the guy got high on meth?
I mean, was it cheap meth at a high quality at a lower price?
I mean, something that I could relate to here?
What kind of meth was it?
I hope you have the answers because I don't.
I'm Roger Hedgecock, filling in for Rush Limbaugh.
You're listening to Rush Limbaugh on the Excellence in Podcasting Network.
It's the Rush Limbaugh program.
Roger Hedgecock filling in for rush from the studios of KOGO Radio here in San Diego, reminding you at Rush Limbaugh.com to adopt a soldier.
That's right.
Going to match uh givers of a combo subscription to Rush 24-7 and the Limbaughter to a serving warrior in the United States uh services, and this is going to be a great, great program uh in the spirit of the season.
Jump in all the details at uh rushlimbaugh.com.
In fact, on the homepage there up above, you can sign up for the adoption if you're in the military or for uh to do the adopting if uh you're not.
All right.
Uh here's uh Noel, is it in Glasgow, Kentucky.
Did I pronounce that right?
Hi, Noel.
Glasgow, Kentucky.
Glasgow.
Professor, Professor, I know the answer.
The reason I see your hand in the air.
Go ahead.
My hand's in the air.
Yeah, Professor Hedgecock, I know the reason that uh price gouging oil producers are evil, and non-price gouging Walmart is evil, is neither of them allow a dollar to go through the hand of a liberal, and it has to go through their hands for them to take their 30%.
Or forty percent.
They're not in other words, the liberals aren't getting a big enough skim here.
That's right.
Uh otherwise known as taxes.
Uh well, you they you can call it taxes, you can call it uh lobby, you can call it all kinds of things.
But as long as it goes through their hands and they can take some of it, then it's okay.
Otherwise, otherwise it's it's evil.
Yep.
You know, you've got some.
I think you're on to something there, and I appreciate it, Noel.
I I think you're on to something.
This is uh this is a very important point.
Those institutions that prosper are the institutions that well, at least for a while, are the institutions for which there is a stream of money going to liberals.
Read unions, government, academia, whatever.
A la General Motors.
Oh, yeah.
They got along with the UAW for years by promising a pension they could never fund.
Now they're going into bankruptcy.
Got another example?
I'd like to hear it.
Here's Joe in Union, New Jersey.
Hi, Joe.
Oh, how's it going, Roger?
Good.
Excuse me.
Hi, Roger, it's Joe.
Go ahead.
Um, I I just wanted to call because I uh disagree with something you were saying earlier.
You're saying that people are persecuting Walmart when they're bringing in uh higher quality, cheaper products, but I just I have to disagree with you on that because as someone who works or works for an importer, part of my job was to buy quality items that are are popular here, turn around and send them to China and have a way for China to uh manufacture there,
turn around and send back knockoffs or like products that were of cheaper quality and cost cheaper only because one, they're using less materials and they're using lack of a better term, peasant labor over there to send these things over here.
And I mean, I myself, I develop these products.
I won't buy them.
I don't buy the products that I make here because I know the subpar quality of them and the subpar materials that are going into making them, and I think almost Walmart not as exploitive, but they buy these products that as you say are cheaper, but they're not necessarily better.
And I I have to tell you I know that firsthand from being someone who designs them and sell it.
Well, let me let me react this way, Joe.
I sh maybe I should have said, just to make this crystal clear.
I'm not saying these are high quality products.
Okay.
I mean, uh in other words, if I went to uh a high quality uh place, uh Nordstrom or wherever you are, Bloomingdale's or Neiman Marcus or uh uh st whatever.
I don't even get that nice, but go ahead.
Well, you know what I'm saying.
In other words, if I go, I'm just saying I guess what I'm saying about Walmart is for the quality they're presenting, the price usually can't be beat.
I agree with you.
No, that's uh I apologize, and I I misunderstood how you were saying that.
I think Well, I may not have been clear.
I may not have been clear.
But I mean you've clarified, and I think that's an important point.
In other words, they're not selling high-end stuff at cheap price.
They're selling a certain level of quality, which as you point out, may or may not be, you know, the highest one, but they're selling a level of quality at a lower price than their competitors do.
And I I appreciate the clarification, and I don't quote your argument until I heard that part.
Okay.
I'm glad you called.
I'm glad you called.
So this is um where I come down on this.
Because the idea that we should boycott as the American Federation of Teachers urged its one point three million members back in September, boycott Walmart by your, as they said in their petition, buy your back to school supplies somewhere other than Walmart.
Uh somewhere other than Walmart means that for the American Federation of Teachers, parents and schools should spend more for pencils, more for pads, more for uh all kinds of that that kind of thing, and in order to be politically correct.
Now I thought the teachers uh constant refrain was we need more money because we don't have enough money for the classroom.
We need more money in the classroom, but when it came to this, and you could save money on classroom supplies, they said, Oh no, that's from Walmart.
Can't do that.
Welcome back to the Rush Limbaugh program.
Roger Hitchcock here in for uh Rush uh today and tomorrow, uh Walter Williams on Friday.
And taking your calls at 1 800 282 2882, all the info on uh Adopt a Soldier and much more at Rushlinbaugh.com.
Here's James in Nyack, New York.
Hello, James, welcome to the Rush Show.
Hey Roger, how are you doing?
Good.
How are you?
I'm pretty good.
I'm pretty good.
Thanks for taking the call.
Yeah.
Um what I wanted to talk to you about was the uh the lawsuit that that was bought against Walmart, the guy that was on Crystal Mass at work, I believe.
Yeah.
Um I don't see why if if if they if the family can sue Walmart based on those grounds, I don't see why Walmart can't countersue that family uh for not getting more involved.
I mean, they must have known that this guy was on drugs this whole time.
Why didn't they get more involved in his life and and and get him out of that situation that led him to stealing their products?
I I just think that they can come up with something there.
They have enough money to get some good minds thinking about that.
You know, James, this is great creative thinking.
I love this because if it takes a village to raise a sex pervert, then doesn't it take a village to uh get a uh meth uh addict off the off the meth?
In other words, where was the family?
Where was the community?
Where was Houston as a greater community of concerned people?
Why shouldn't they all have to pay a little bit uh to be able to make Walmart uh the victim of this crime to make Walmart whole to go I mean their employees had to wrestle this meth freak to the ground.
God knows what they went through in I mean that's just James, that's brilliant.
Well, you know, I just thought I would throw it out there and uh maybe that something can be made of this, but I I think there's something to to pursue there and and like I said, maybe some minds will start thinking about it and and we can get something out of it.
But it would send a sure signal to all of these people who are bringing these lawsuits up and uh you know maybe they would think twice if if companies started counter suing and making it really hard on them uh to do these sorts of things.
That's a good point.
James, thanks for the call.
It's good stuff.
Art in uh Shepherd uh where is this?
Uh Art, welcome to the program.
Hi, Roger.
Montana.
Hi.
I be since I started listening to your show, I went up and went through my Levi's and I got five different pairs of well, Levi's, I mean Rustler, Wrangler, uh limited edition, and there's one other, but I went through 'em all.
Now every one of them is made overseas.
Now the whole thing is every one of these plants, including the that make textiles, plus the GM plant in China are grassroots plants.
They have the fully uh automated as they possibly can be.
They have the even at the cheap labor costs that they have in China, they have the minimum amount of labor because if somebody gets sick that's in a critical position, and the plant has to shut down because they're not there, they they don't want that.
So they have it as much automated as they possibly can.
The materials are just as good.
Um when they weave the material for the Levi's, and I use Levi as a brand name.
The whole point is that uh if we're going to compete, we have to build grassroots plants that have the minimum amount of labor, and the whole thing comes down then to the cost of transportation between China and here.
And I think the cost of transportation, if we automate our plants, even at our current labor costs, will be more than the uh uh that then than China or India or Pakistan will save on labor costs because like I say, they've done everything that they can to reduce their labor costs, even with the cheap slave labor that they got.
No, I I think that's true, and then And then that's why we have five percent unemployment.
Everybody thought that when these jobs went overseas, when we outsourced everything, that we would be flipping hamburgers and uh and poor and all of our great jobs would be gone.
Uh I'm sorry, the uh truth is just the opposite.
And one thing on this crystal meth, they just did a survey up here in Montana of people that were on Crystal Meth, and they found out that the people up here that are in crystal meth have a higher incidence of STDs, including HIV, than the normal population.
So those Walmart employees that tackled that guy were at greater risk if he bit them than uh the normal tackling the normal person as well.
See, I think that's a that's a great call, and I think that's exactly why this lawsuit James was talking about has some merit because the risk to those employees was huge.
And the village there at Houston ought to be taking more uh better care of these uh of these methamphetamine uh people and uh and of the slaves for that matter who work for Walmart.
Okay.
Myself.
Anyway, Brian, what is this uh wearing non-rangler jeans in Montana, first of all?
Well, I mean Wrangler and Russler and Levi up here are all very popular and they're all good names, so it's not just wearing non-rangler.
I mean, we're wearing uh we're wearing the right stereotype genes.
Yeah, that's what I I'm thinking.
Don't go to those designer genes.
It's just gonna blow a lot of great one on antennas.
Sure.
Walmart has a very great stock option plan for their employees.
I happen to know it because I got a bunch of friends who work for Walmart.
Sure.
And uh unlike most companies, they can buy the stock at the deep discount that they get, and they can immediately that day sell that stock for whatever the market price is that day, so they essentially get a same day huge bonus on that stock if they choose to get rid of their Walmart stock.
Well, this is putting a whole new gloss on slavery.
I don't know.
We don't want to make it too attractive hard.
Anyways, let me let you go, Roger.
I appreciate the call.
I appreciate it.
See, that's really what's a uh what when you look into what Walmart actually does, and I don't mean to praise Walmart.
I mean I just think capitalism ought to be praised because it works.
It works uh so much better than anything else that's been tried.
And if you don't because what I love about it is if you don't like the company you're with, I mean hasn't this happened to you, happen to me.
If you don't like the company you're with to go to another one.
In other words, if you're a skilled person, if you have drive and ambition and perseverance and skills and education and whatever, and you are out there in the workforce.
It isn't like the socialist paradise of uh North Korea and Cuba.
Uh you don't just have one employer take it or leave it.
No, you have choice.
You can choose to work for whoever you want.
People choose to work for Walmart.
Why?
Well, probably for every as many reasons there are people.
But is anyone forced to work for Walmart?
Not that I know of.
Not that I know of.
All right, Brian in Atlanta is next.
Brian, welcome to Co welcome to uh the Rush Limbaugh program.
Good afternoon.
How are you doing, Ryan?
Hi.
Can you hear me?
I'm on my microphone.
Sorry about that.
No, go ahead, Brian.
I can hear you fine.
Go ahead.
Excellent.
Okay, listen, uh, I was just getting in my truck when I heard your comment regarding Michael Steele, I believe, in Maryland.
Yeah.
And the comments about the uh people throwing oil, cookies, all that kind of stuff at him.
Well, me, I'm I'm a black man, I'm a Republican, I live in the South, and I hear that kind of stuff and infuriates me.
Uh people like you know, Michael Steele, uh Herman Kane, who was a great man, uh, Condolee Sur Rice, uh, Colin Powell, Bill Cosby, these people, Roger, these people are the products of what Martin Luther King marched and died for.
And to have the black leadership and the Democratic Party make these kind of gestures, whatever, they are handcuffing, uh, I put it here earlier, that they have become the brand new Klan.
They become the new Klan.
No more do they have to go out there in their white sheets.
They've got a new group of people doing it, and they are holding our people down, and they were keeping these crazy lies out there, punishing people who are actually successful for God knows what reason.
But they I hope and I pray, dear God I pray, that they will one day be able to make The statement.
I once was lost, but now I'm found.
And recognize that they don't have to depend on anyone but God for their success.
And the minute they go and fight what God has done for these people, man, they were going to be in so much not just political but spiritual trouble.
And I, as a black man, I'm really begging for people to wake up and get this bail removed from their eyes so that they can see what's really taking place and find out what the real enemy is.
And I'm not going to name any names, but we know who they are.
You know, our democratic black leadership has failed for a long time.
At one point, their fights were very valid.
I will give them that, that is so true.
They were very valid.
We've come so far past that.
Now it's like they still work with an eighth-grade education, trying to do college work and it won't work.
They've got to change their tactics, change their thoughts, change their attitudes, give more praise, don't glorify the rampartists singing that nasty music, and thinking our kids can only be successful if they do that.
We've got lawyers, doctors, we've got we've got business owners that own restaurants and all kinds of stuff.
And to listen to these people talk, you would think we have gone nowhere.
I didn't want to get upset, but I'm just I've got two young kids, and dear God, I will never let them go to a public school because of that garbage.
And they're being taught the wrong stuff.
They've got so many more Republicans that are for them than the black Democratic Party, I promise you.
And that's I am not sure.
I appreciate the I appreciate the call, my friend.
You have hit so many nails on the head here.
You built a whole house of logic and common sense and Americanism.
God bless you for being a great parent and for being a great caller to this uh program.
I can't in any way, shape, or form improve on what you've said and the fact that you said it from your background, I think means uh the world to a lot of people who've heard it.
Uh this is probably the only outlet in the media where you would have a chance to have that kind of say as uh as a black American and to and to just the idea that nowhere else are we hearing that voice in the American media by itself should tell you something about the truth of what Brian just said.
I'm Roger Hedgecock, filling in for Rush Limbaugh here at the EIB network, back after this.
Welcome back to the Rush Limbaugh program.
Roger Hedgecock filling in for a rush.
I'll be here uh tomorrow, and uh Walter Williams on uh Friday as Rush takes the week off.
Uh, of all of the list of lies told by the media with regard to the circumstances of Katrina, the hurricane and its aftermath, none stuck in my craw.
There were a ton of them that did, but none worse than this one.
That Bush, the evil killer of black people, had deliberately not built, even when he knew what had to be done.
They cut the budget and did not build adequate levies to keep the storm waters out, and those levees broke right where those black neighborhoods were.
Deliberate.
And the major media basically bought that whole thing.
Basically bought the whole thing.
Among the other truths that has emerged after that initial hysteria of the left using the hurricane to inflict maximum damage on George W. Bush as they use anything.
I mean, the sun comes up in the morning, and there's got to be some way that Harry Reid and Nancy Pelosi can use that fact to destroy George Bush.
Among the facts that have come out after Katrina is a remarkable fact that will illuminate the entire landscape of deceit here.
The levees were not built to the Army Corps of Engineers specs because a planned upgrade in the 1990s, during the Clinton administration,
a planned upgrade to 303 miles of levies in Louisiana, Mississippi, and Arkansas did not go forward because the Sierra Club and a group called American Rivers sued the Army Corps of Engineers to stop it.
The Army Corps observed at the time in 1996 in this lawsuit that a failure of the old levies quote could wreak catastrophic consequences on Louisiana and Mississippi, which the states would be decades in overcoming, unquote.
That lawsuit delayed the project to a point where it was underfunded, starting in the Clinton administration and into the Bush administration, because the Army Corps of Engineers got tired fighting.
They got tired of fighting because judges bought the idea that the Sierra Club and American Rivers as an organization, American Rivers organization, was the idea they were selling.
The idea was that natural river flows are the way to go.
It is unnatural to build levies because the water will ultimately find its own place.
Yeah?
I don't know, ask the Dutch.
And the two thirds of their country underwater, I mean technically, but they have levies to keep the North Sea from reclaiming the natural boundaries of the North Sea, I guess.
So American Rivers says no no no levees evil.
Flood good.
Then when the flood came, it was Bush's fault.
When will the Sierra Club and American rivers stand up and claim their responsibility?
Now ladies and gentlemen, finally this is a topic that has also been on my mind.
Because in the real world of the economy where we have 5% unemployment, we have low interest rates, we have low inflation, the latest numbers indicating about two and a half percent a year, well below the target of three, we have a uh we have a uh an unbelievable economy, probably the best American economy ever yes, the Republic you know there's all these things you can say about it and and constantly negative things are said.
The Republicans are caving in on too much spending and deficits and blah blah blah of course.
Of course they are but the economy, the real world, the real America has never done better.
Never done better in any indication you want to, including this one, which rarely gets and thank you, Lawrence Cudlow, rarely gets a lot of mention.
How many people actually participate as shareholders?
Is it just the rich who own shares in these capitalist corporations like Walmart?
Or is it other people too?
Well the good news is that today about 57 million families in America own stocks one way or another.
About sixty percent of U.S. households are invested in equities shares of stock.
Twenty years ago it was 20%.
Twenty years ago it was 20%.
We are three times the wealth creating wealth owning society that we were twenty years ago.
Sixty percent of American families are in the investor class.
The sixty percent of Americans are willing to take the risk the Democrats said was unacceptable for Social Security.
I don't know how George Bush lost that argument he was right right on that it becomes because of these numbers because of what's happening because nearly half of the people owning shares earn less than 75 grand a year by the way they're not just wealthy people, although the wealthy obviously own shares some of them got that way because they did invest in share.
Other people are getting a clue about that who make 20, 30, 40, 50 thousand a year and are investing their money in a 401k or however they're doing it, in shares of stock the result is a wealth creation of unparalleled proportion in the history of the human race.
The result is of course when you hear a Democrat saying we've got to tax the rich for their fair share, you hear the voice of antiquity the voice that doesn't understand the real economy, the voice that hasn't looked at the numbers because when you talk about the investor class and having to tax an increase as Olympia Snow did yesterday tax by raising the dividend tax by raising the capital gains tax by attacking the investor class you're hitting the middle class Olympia back
after this.
Roger Hedgecock in for Rush Limbaugh will do it again tomorrow Walter Williams on Friday rush back on Monday that's the schedule of course everything continues at Rushlimbod.com.
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