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Nov. 16, 2005 - Rush Limbaugh Program
36:27
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 way people communicate.
There's going to be a prosecution of one of the 10,842 leaks that occurred that week.
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, entrusted with classified materials.
He is on the ⁇ 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, first of all, in the first six words, he's lying, no senator ever moves to the bathroom by themselves.
Okay, so 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 timeframe, 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, 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 use-by date of 2008.
And unless extended, as Art Laffer and other distinguished economists will tell you, unless these capital gain rates, 15 percent, the dividends treatment, 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 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 percent of you, according to the national polls, or 30-some percent, actually agree 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 percent.
5 percent, according to liberal economists, is full employment.
5 percent 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.
In this case, as in many others, it's 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 kids' shoes and whatever, 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 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 it, I'm not in Walmart too often.
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.
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 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 have 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.
I understand because I look at all kinds of pity in my eyes.
I look at the employees there.
They appear to be smiling and happy and doing a fine job.
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.
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 get liberal wackos in public office.
So I understand the process.
Believe me, I'm not naive.
I am mystified.
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 Kmart and 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 going to go to the store, perverted me.
I'm going to 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, let's see, what is his full name here?
They always have three names when they're perps.
Stacey Clay Driver.
Stacey Clay Driver, according to the Houston Chronicle, was high on methamphetamine when he was trying to come back with goods that he'd taken and put a receipt sticker on them.
He hadn't purchased them, but he was trying to get a refund.
Now, it was so obvious, 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 I don't know how this is all going to 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, Only 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 rushlimbaugh.com to adopt a soldier.
That's right.
Going to match givers of a combo subscription to Rush 24-7 in the Limbaugh Letter to a serving warrior in the United States services.
And this is going to be a great, great program in the spirit of the season.
Jump in.
All the details at rushlimbaugh.com.
In fact, on the homepage there up above, you can sign up for the adoption if you're in the military or to do the adopting if you're not.
All right.
Here's 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 in the air.
Yeah, Professor Hedgecock, I know the reason that 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%.
30%.
In other words, the liberals aren't getting a big enough skim here.
That's right.
Otherwise known as taxes.
Well, you can call it taxes.
You can call it 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, it's evil.
Yep.
You know, you've got something.
I think you're onto something there, and I appreciate it, Noel.
I think you're onto something.
This is a very important point.
Those institutions that prosper are the institutions, at least for a while, are the institutions for which there is a stream of money going to liberals, Reed, 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.
I just wanted to call because I disagree with something you were saying earlier.
You were saying that people are persecuting Walmart when they're bringing in higher quality, cheaper products.
But I just 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 popular here, turn around and send them to China and have a way for China to 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 have to tell you, I know that firsthand from being someone who designs them and sells them.
Well, let me react this way, Joe.
Maybe I should have said, just to make this crystal clear, I'm not saying these are high-quality products.
I mean, in other words, if I went to a high-quality place, Nordstrom or wherever you are, Bloomingdale's or Neiman Marcus or whatever.
I don't even mean that nice, but go ahead.
But 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, I apologize, and I misunderstood how you were saying that.
Well, I may not have been clear.
I may not have been clear.
But, I mean, you've clarified it, 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 the highest one, but they're selling a level of quality at a lower price than their competitors do.
And I appreciate the clarification, and I'll post your argument until I hear that part.
Okay.
I'm glad you called.
I'm glad you called.
So this is where I come down on this.
Because the idea that we should boycott, as the American Federation of Teachers urged its 1.3 million members back in September, boycott Walmart, buy your, as they said in their petition, buy your back-to-school supplies somewhere other than Walmart.
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 all kinds of that kind of thing, and in order to be politically correct.
Now, I thought the teachers' 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 Rush today and tomorrow.
Walter Williams on Friday.
And taking your calls at 1-800-282-2882.
All the info on Adopt a Soldier and much more at rushlimbaugh.com.
Here's James in NYAC, 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.
What I wanted to talk to you about was the lawsuit that was brought against Walmart, the guy that was on Crystal Method at work, I believe.
Yeah.
I don't see why if the family can sue Walmart based on those grounds, I don't see why Walmart can't counter-sue that family 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 get him out of that situation that led him to stealing their products?
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 get a meth addict 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 to be able to make Walmart 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 that.
I mean, that's just, James, that's brilliant.
Well, you know, I just thought I would throw it out there, and maybe something can be made of this.
But I think there's something to pursue there.
And like I said, maybe some minds will start thinking about it, 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, you know, maybe they would think twice if companies started counter-suing and making it really hard on them to do these sorts of things.
That's a good point.
James, thanks for the call.
It's good stuff.
Art and Shepard.
Where is this?
Art, welcome to the program.
Hi, Roger.
Montana.
Hi.
Since I started listening to your show, I went up and went through my Levi's, and I got five different pairs of Levi's.
I mean, Russell, Wrangler, Limited Edition, and there was one other.
But I went through them all.
Every one of them is made overseas.
Now, the whole thing is, every one of these plants that make textiles plus the GM plant in China are grassroots plants.
They have the fully automated as they possibly can be.
Even at the cheap labor cost 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 don't want that.
So they have it as much automated as they possibly can.
The materials are just as good.
When they weave the material for the Levi's, and I use Levi as a brand name.
What's the point?
The whole point is that 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 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 think that's true.
And that's why we have 5% unemployment.
Everybody thought that when these jobs went overseas, when we outsourced everything, that we would be flipping hamburgers and poor, and all of our great jobs would be gone.
I'm sorry.
The 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 tackling the normal person as well.
See, I think 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 better care of these methamphetamine people and of the slaves, for that matter, who work for Walmart.
I think.
Myself.
Anyway, Brian, what is this wearing non-Wrangler jeans in Montana, first of all?
Well, Wrangler and Rustler and Levi up here are all very popular, and they're all good names.
So it's not just wearing non-Wrangler.
I mean, we're wearing the right stereotype jeans.
Yeah, that's what I'm thinking.
Don't go to those designer jeans, Art.
It's just going to blow a lot of great stuff out of Walmart if you have the time.
Sure.
Walmart has a very great stock option plan for their employees.
I happen to know it because I got a bunch of friends that work for Walmart.
Sure.
And 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.
Anyways, let me let you go, Roger.
I appreciate the call.
I appreciate it.
See, that's really what's 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 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?
It happened to me.
If you don't like the company you're with, you 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 North Korea and Cuba.
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 as many reasons as 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 the Russian Lab program.
Good afternoon.
How are you doing, Ryan?
Hi.
Can you hear me?
I'm on my telephone.
Sorry, but I'm not sure.
No, go ahead, Brian.
I can hear you fine.
Go ahead.
Excellent.
Okay, listen, 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 people throwing oil, cookies, all that kind of stuff at him.
Well, me, I'm a black man.
I'm a Republican.
I live in the South.
And I hear that kind of stuff, and it infuriates me.
People like him, Michael Steele, Herman Cain, who was a great man, Condoleezza Rice, 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.
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 are 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 veil removed from their eyes so they can see what's really taking place and find out who the real enemy is.
And I'm not going to name any names.
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.
Is so true.
They were very valid.
We've come so far past that.
Now it's like they're still working 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 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'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 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 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 the world to a lot of people who've heard it.
This is probably the only outlet in the media where you would have a chance to have that kind of say as a black American.
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 a 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 tomorrow and Walter Williams on Friday as Rush takes the week off.
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 levees to keep the stormwaters out, and those levees broke right where those black neighborhoods were.
Deliberately.
And the major media basically bought that whole thing.
Basically bought the whole thing.
Among the other truths that have 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 levees 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 of fighting.
They got tired of fighting because judges bought the idea that the Sierra Club and American Rivers, as an organization, the American Rivers Organization, the idea they were selling.
The idea was that natural river flows are the way to go.
It is unnatural to build levees because the water will ultimately find its own place.
Yeah?
I don't know.
Ask the Dutch.
Isn't that two-thirds of their country underwater?
I mean, technically, but they have got to hell levees to keep the North Sea from reclaiming the natural boundaries of the North Sea, I guess.
So American Rivers says, 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 percent unemployment, we have low interest rates, we have low inflation, the latest numbers indicating about 2.5 percent a year, well below the target of 3, we have an unbelievable economy, probably the best American economy ever.
Now, yes, the Republic ⁇ you know, there's all these things you can say about it, 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 Kudlow, 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 60 percent of U.S. households are invested in equities, shares of stock.
20 years ago, it was 20 percent.
20 years ago, it was 20 percent.
We are three times the wealth-creating, wealth-owning society that we were 20 years ago.
60 percent of American families are in the investor class.
The 60 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, right on that.
And it becomes because of these numbers, because of what's happening, because nearly half of the people owning shares earn less than $75,000 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, 50,000 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.
We'll do it again tomorrow.
Walter Williams on Friday.
Rushback on Monday.
That's the schedule.
Of course, everything continues at rushlimbaugh.com.
Thanks for listening.
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