All Episodes
Previous Next
Oct. 10, 2008 - Rush Limbaugh Program
37:31
October 10, 2008, Friday, Hour #1
| Copy link to current segment

Time Text
Welcome to today's edition of the Rush 24-7 podcast.
And greetings to you, music lovers, thrill seekers, conversationalists, and people like me seriously considering a second job.
The market's the way they are.
I think I'm going to hire myself out as a guy that goes around to rich people's house, say, look, for five bucks an hour, I'll drive your car around the block just so that tires don't get flat.
Live from the Southern Command in sunny South Florida, it's Open Line Friday.
And of course, you know what Open Line Friday means.
It means essentially that I, your beloved host, takes one of the greatest career risks in all of major media.
That is turning over the content portion of the program to you when we go to the phones.
Of course, I am a highly trained broadcast specialist and you're not.
But that doesn't matter because it's always fun.
So here's the telephone number, 800-282-2882.
The email address is lrushbo at eibnet.com.
Get this.
Get this.
Just hot off the Bloomberg wire.
Italian Prime Minister Silvio Berlusconi said that political leaders are discussing the idea of closing the world's financial markets while they, quote, rewrite the rules of international finance, unquote.
The idea of suspending the markets for the time it takes to rewrite the rules is being discussed, Berlusconi said today after a cabinet meeting in Naples, Italy.
A solution to the financial crisis can't just be for one country or even just for Europe, but it has to be global.
I still find it just fascinating, oh, this is happening 25 days before an election.
I just find it fascinating, oh, this is happening two months before an election.
And I'm going to tell you something else here, folks, about this that I think a lot of people are missing.
Well, a lot of commentators are not saying.
I think a lot of people get it.
I think a lot of people understand this.
But part of this sell-off is, I think, from smart people who are scared to death, Barack Obama is going to be elected president.
He is promising to raise taxes all over the place.
He's promising to raise capital gains taxes.
They've got a lot of people, they see this happening.
They're going to take their profits for what they are now and wait till after the election to see what happens.
If you live in a state that has an income tax, you're going to have to add that income tax to Obama's top marginal rate of 50%.
That's what it's going to be.
Now, one thing that makes me curious about this is there's a new Democrat Party today.
Democrat Party is not made up of all these union, blue-collar, down-and-out, downtrodden people.
I mean, most of those are still Democrats, but the Democrat Party today is the party of the elite leftist rich.
And they are typified by Obama.
The elite leftist rich are just like everybody else.
They have seen, depending on how much they are invested in equities, they have seen the value of their assets plummet anywhere from 20 to 30 percent here, and it may go all the way to 40 percent before you get some kind of correction here in the market.
Now, I don't know if people who lose that kind of money are then going to sit around and be happy about paying even more to Barack Obama to fund his wildly socialist programs that he intends to grow the government with.
I think Wall Street's afraid of an Obama administration.
We will know A friend of mine who's in the know on these kind of things said, on election night, keep a sharp eye on the Asian markets.
The Asian market's 12 hours ahead of us.
If it looks like McCain's going to win, you're going to see the biggest rally you have ever seen.
If it looks like Obama's going to win, may not be much more damage because by then, how much more damage will there be able to be influenced?
Okay, okay, okay, okay.
But this again, I said this yesterday, and I believe this to be true today.
It'll be true for the remaining 25 days.
This is an issue on which McCain can win.
Frankly, my friends, I'm getting tired of everybody buying into this conventional wisdom notion that what's happening to the market and the economy is an automatic win for Obama.
Why?
The only reason it's an automatic win for Obama is because he's not in power, and the Bush administration and Republicans are.
And so the change factor comes in.
But what the hell is Obama going to do to this to fix it?
He doesn't know what he's doing.
He's going to have some of his leftist radical buddies who are going to be his economic advisors telling him what to do.
You have to understand there are a lot of people in Barack Obama's immediate orbit who are happy about what is happening here.
There are a lot of people in Obama's orbit who love seeing the capitalist system teetering like this.
This is a scary thing, folks.
The Washington Post today has a story, the end of capitalism.
And it's not the first such story I have seen.
The end of capitalism?
Well, this is what Bill Ayers is all about.
Acorn is all about the destruction of capitalism and the democratic system of fair elections.
This is that there are a lot of people on Obama's side are loving this.
There are a lot of people on Obama's side loving that you're in pain, loving that you're anxious, loving this crisis, loving that you're suffering, loving it.
Because they think two things.
They think you deserve to suffer because this is such an unfair, inequitable country.
It's not fair.
Anybody has any more than anybody else?
And so those who are suffering, good for them.
I'm telling there's some people in Obama's camp that are doing cartwheels.
And not publicly, of course.
They won't ever say this stuff publicly.
The other reason they like it is that they think it's going to propel Obama over the top.
So McCain's got, I think, a golden opportunity here.
McCain is the solution to the economic crisis.
He's talking tax cuts.
He's talking capitalism.
He's talking economic growth.
McCain should just tell everybody that a vote for McCain can save the market.
You don't have to go into all these details and idiosyncratic plans and so forth.
You just have to tell all people who Obama is.
You know, Obama's out there saying, well, he didn't say that to my face.
You know, that comment about that one.
He didn't say that to my face.
Say it to his face, Senator.
You got one more chance next week in the final debate to say all of this to his face.
And everybody's saying, well, Rush, how come you keep worrying about Bill Ayers?
And how come you keep trying to tie Obama to Acorn?
It's the economy.
They are inseparable, especially Acorn and the economy and Obama.
And you know, Obama is lying through his teeth on his own website saying he never had anything to do with Acorn.
We got the data.
We got the documentation.
We have pictures of him.
He represented Acorn in lawsuits.
He worked with them and he praised them.
And he's out there trying to say he had nothing to do with Acorn now.
Then he goes out and says, well, I got to buy a half-hour TV time.
I'm going to buy some time on, well, he's trying to buy everywhere but ABC.
I wonder what that's about.
Why don't he want to buy time on ABC?
We're talking about the broadcast networks, CBS, NBC, and Fox, not news, the Fox Broadcast Network.
He wants to buy a half-hour TV time.
Why is that?
A lot of people think it's just because he wants to sew it up here.
Rush.
He's got all the illegal money from overseas.
He's going to spend it somewhere.
I think all this acorn and heirs stuff is getting to him.
Look, there's a pattern here.
Lewis Farrakhan called Obama the Messiah.
He speaks as the Messiah.
We have the tape coming up on today's program.
So you've got Calypso Louie.
You have that mad, lunatic, enraged, insane preacher.
Well, you got two of them.
Jay Wright, and of course that wacko, Father Flager.
And then we've got Bill Ayers and Bernadine Dorn.
I mean, there's a pattern here of the guys and the people that Obama has formed alliances with.
And you can't just ignore the pattern because they tell us who the guy is.
He's not telling us who he is.
He's trying to present a picture of himself that, of course, is not accurate.
So, and by the way, this Burlus Sciony thing, Sylvia Burlusconi, he's a conservative.
He was.
But, you know, we've got a lot at stake here.
Now, all these guys, let's just shut down everything and rewrite the rules and make them all global.
Okay, so we're going to have the United States Bank making loans to the United States Automobile Company.
And the United States Treasury is going to oversee all of this.
And then we'll have the United States discount retail store with locations in thousands of American cities.
And what kind of cars are we going to be?
Well, we had the story yesterday.
J.D. Power says the General Motors is finished.
The automobile business in total.
Auto business is going to collapse next year.
It's fini.
It's over.
That's why if you want a new car, you're going to go out and buy one now.
But hell, they say you can't get credit.
Although I think you probably can if you go to the right dealership, go to the right, live in the right place.
Anyway, when the United States auto company is formed next year, you're going to have bureaucrats in beanies inside Washington designing those little cars with propellers on them and stuff, playing games, making garbage that nobody wants.
I'm joking, but this is serious with all of this talk of nationalizing this and socializing that.
People just need to step back, push back, and let this work itself out.
It always will if you just let it.
All right, we also have on today's program the official Obama criticizer, Bo Snerdley.
Mr. Snerdley is outraged over all the talk of riots from James Carville and some things that Obama has been saying.
That'll be coming up within this hour on the EIB network.
And after the official Obama criticizer, I will answer the question I asked you yesterday.
When do we riot?
I threw it out there.
I wanted you to stop for a moment and think about this.
But I will answer the question, when do we riot?
All that and 60 audio soundbites.
Coming up right after this, we'll be back.
Two years ago, ladies and gentlemen, two years ago, the Nobel Prize Committee awarded the Peace Prize to a man named Mohammed Yunus.
He was from Bangladesh.
He works at the Grameen Bank.
You know why Mohammed Yanus of Bangladesh got the Nobel Peace Prize?
Because he came up with a way to offer loans to poor people who couldn't pay them back.
A statement from the Nobel Committee awarding the Nobel Peace Prize to a Bangladesh banker.
Lasting peace cannot be achieved until large population groups find ways in which to break out of poverty.
Microcredit is one such means.
Micro-credit, no credit, endless credit.
This stuff's been in the works for I don't know how long.
We started it here in this country way, way back.
Jimmy Carter, who, by the way, Jimmy Carter today, ladies and gentlemen, blaming all of this on Bush.
And why wouldn't he?
Jimmy Carter, famous for covering his own rear end.
And this is a big CYA move because everybody that's looked into this knows it started with him.
It was one of the worst presidents, certainly the worst in my lifetime, and one of the worst in American history.
He got a Nobel Peace Prize too.
Look at the Peace Prize winners and look at how they screw up.
Gore getting one.
All these institutions that used to mean something are now nothing more than tools for leftists to award themselves.
Here is Calypso Louis Farrakhan, February of this year.
He's the supreme minister of the nation of Islam, and he said this.
You are the instruments that God is going to use to bring about universal change.
And that is why Barack has captured the youth.
And he has involved young people in a political process that they didn't care anything about.
That's a sign.
When the Messiah speaks, the youth will hear.
And the Messiah is absolutely speaking.
Calypso Louie declaring that Barack Obama is the Messiah.
Minister Louis Farrakhan was discussing Barack Obama.
Now, I called him the Messiah almost a month prior to that.
I think Calypso Louie might have stolen it from me.
The Democrats have been mired in race for decades.
You know, Hillary throws down the gender card and race markers as Barack tries to run as a person.
Barack's not running as a black guy.
Barack's not, he's running as a savior.
He's running as a messiah.
And there are a lot of liberal Democrats out there, by the way, willing to take that.
It's perverted, but a lot of liberalism is perverted.
So you've got Calypso Louis stealing from me and turning it around and meaning it seriously.
Listen, go back to play number seven again, Ed.
This is January.
I'm sorry, February of this year.
Calypso Louie discussing Barack Obama to his congregation.
You are the instruments that God is going to use to bring about universal change.
And that is why Barack has captured the youth.
And he has involved young people in a political process that they didn't care anything about.
That's a sign.
When the Messiah speaks, the youth will hear.
And the Messiah is absolutely speaking.
Now, I don't know about you, folks, but if I were running for president of the United States, the last person I would want endorsing me is Calypso Louie.
The last person I would want praising me is Calypso Louie.
And I wouldn't want anybody calling me a Messiah.
But these are the people that Obama hangs with, has hung with, and who are his mentors.
Now, what we have done here for today's program in large part, not a large part of it, we've got a number of soundbites here.
You know, Barack Obama's written a couple books.
He also recorded the audio version of those books.
We went out there, we got the audio version of those books, and we got some sound bites of Obama speaking his own book.
This is, let's see, his book, Dreams from My Father, a story of race and inheritance.
He had grown up in Philadelphia, the son of a Baptist minister.
He had resisted his father's vocation at first, joining the Marines out of college, dabbling with liquor, Islam, and black nationalism in the 60s.
He's discussing there the Reverend Jeremiah Wright.
He's discussing the Reverend Jeremiah Wright when he says he grew up in Philadelphia, son of a Baptist minister, resisted his father's vocation at first, joined the Marines, dabbling with liquor, Islam, and black nationalism in the 60s.
And he held onto the black nationalism, obviously, and still has it.
Now, after listing a few examples of racism directed at him by whites as he was growing up, Obama says this.
That's just how white folks will do you.
It wasn't merely the cruelty involved.
I was learning that black people could be mean and then some.
It was a particular brand of arrogance, an obtuseness in otherwise sane people that brought forth our bitter laughter.
It was as if whites didn't know they were being cruel in the first place, or at least thought you deserving of their scorn.
This is Barack Obama reading his book, Dreams from My Father, a story of race and inheritance.
Now, here is another little clip of Obama reading his own book, referring to his reading of the book, Heart of Darkness, and what it taught him about why white people hate.
So I read the book to help me understand what it is that makes white people so afraid.
Their demons, the way ideas get twisted around.
It helps me understand how people learn to hate.
This is Barack Obama reading from his book, discussing white people, why they hate, how he had to learn about it.
Let's do a flashback here.
Let's go back to March 21st in Philadelphia.
Obama's on the radio, and the host asked Obama about his Tuesday morning speech that week on race, in which he referenced his own white grandmother and her prejudice.
Here's his response.
The point I was making was not that my grandmother harbors any racial animosity.
She doesn't.
But she is a typical white person who, if she sees somebody on the street that she doesn't know, you know, there's a reaction that's been bred into our experiences that don't go away and that sometimes come out in the wrong way.
Right.
So he tried to rehab his grandmother, threw her back under the bus with that comment, and that was back on March 21st of this year.
Another reading from his book, Dreams from My Father.
The emotions between the races could never be pure.
Even love was tarnished by the desire to find in the other some element that was missing in ourselves.
Whether we sought out our demons or our salvation, the other race would always remain just that.
Menacing, alien, and apart.
Now remember, this is the great unifier.
This is the man who can bring all of the peoples of the world together for a common cause, such as reducing the sea level and freezing the Arctic waters again so that we have ice and we can save the plague.
It'll unify all this.
And he writes these two books, and you can find lots of passages where he is, he's clearly doesn't ever expect to be unified with the white race.
We've got that.
Your phone calls coming up, too, as Open Line Friday rolls right on from the EIB, Southern Command.
Your guiding light, El Rushboe serving humanity simply by showing up.
It's Open Line Friday on the EIB network.
Our telephone number is 800-282-2882.
We'll be getting to your phone calls in Mere Moments.
Also coming up, the official Obama criticizer.
I have three more sound bites prior to the official Obama criticizer report today from Obama reading from his book, Dreams from My Father, a Story of Race and Inheritance.
Now, this is a key passage.
He is admitting in this passage of his book that he reads himself to his own radicalism.
He says he couldn't escape it if he tried.
Here we go.
Black nationalism provided that history, an unambiguous morality tale that was easily communicated and easily grasped.
A steady attack on the white race, the constant recitation of black people's brutal experience in this country, served as the ballast that could prevent the ideas of personal and communal race.
Stop this, stop, stop this, stop that.
Ed, stop.
What is this?
Ballast?
He doesn't talk this way.
You know, there are stories out there.
He may not have written this book.
There's a guy named Jack Cashill, Cashiel, not sure he pronounces it, who has gone back and he can't say for sure, but he's read Ayers' books.
See, Obama, in both these books, Obama first submitted a manuscript.
Took him 10 months to do.
The publisher rejected it.
It was worthless.
So he went back and they'd given him a big advance.
I'm really shortening the story here.
And now Jack Kesho has compared some of these passages in Obama's book to Bill Ayers, who does write very well.
There's no evidence that Obama has ever written anything prior to this except a poem.
And the poem was as dumb as a river rock in a tree that Maya Angelou did at the Slicksters inauguration back in 1993.
There's no evidence that he has any kind of, we haven't seen anything he wrote at Harvard Law, when he was at Columbia, any of the tests that he's written.
But if you listen to the, if you read his books, you listen to his audio reading of the book here, you don't hear this when Obama goes out and speaks.
I would like for him to be given a test on his own book.
You know how Charles Barkley once said he was misquoted in his own book?
I would like for Obama to actually be given a test on his own book.
Here's the rest of this bite.
Dipping into an ocean of despair.
Yes, the nationalists would say, whites are responsible for your sorry state, not any inherent flaws in you.
Of course not.
In fact, the nationalists would continue, whites are so heartless and devious that we can no longer expect anything from them.
Of course.
The self-loathing you feel, what keeps you drinking or thieving, is planted by them.
Right.
Rid them from your mind and find your true power liberated.
Rise up, ye mighty race.
All this was painful to consider, as painful now as it had been years ago.
It contradicted the morality my mother had taught me, a morality of subtle distinctions between individuals of goodwill and those who wished me ill, between active malice and ignorance or indifference.
I had a personal stake in that moral framework.
I discovered that I couldn't escape it if I tried.
Jeremiah Wright.
As it turned out, though, it was questions of effectiveness and not sentiment that caused most of my quarrels with Rafiq.
So he didn't disagree with it.
He didn't think it was very effective, but it didn't change what he thought of black nationalism, which is what Reverend Wright teaches to this day or did, still taught from the pulpit of Obama's church.
This is another portion, Obama reading from his own book, Dreams from My Father.
It was usually an effective tactic.
Another one of those tricks I had learned.
People were satisfied so long as you were courteous and smiled and made no sudden moves.
They were more than satisfied.
They were relieved.
Such a pleasant surprise to find a well-mannered young black man who didn't seem angry all the time.
Aha.
So in his own book read by him here, he admits the trick to making himself look unthreatening.
Don't display that radical temperament that all of his friends have.
He's learned the trick.
And finally, he says that he was a spy behind enemy lines when he worked in corporate America here.
Eventually, a consulting house to a multinational corporation agreed to hire me as a research assistant.
Like a spy behind enemy lines, I arrived every day at my mid-Manhattan office and sat at my computer terminal.
Barack Hussein Obama admitting to be feeling like a spy in the office behind enemy lines in corporate America.
Now, ladies and gentlemen, as promised, the official Obama criticizer, Bo Snerdley.
This is Bo Snerdley, official Obama criticizer for the EIB network, certified black enough to criticize by the National Association for Peace, Love, and Social Justice.
I have a statement.
Mr. Obama, you are now the leader of the Democrat Party.
You call the shots, at least in theory.
So when can we expect an edict to abolish the divisive, harsh, racially charged rhetoric from your Democrat Party subjects?
Recently, James Carvell hinted blacks would riot should your standing in the polls remain, but you lose the election.
Prior to that, one of your Hollywood minions, Sandra Barnhart, said Sarah Palin would be gang raped by big black brothers if she dared set foot in New York.
Your party's labor leaders are now accusing their own members of harboring racial attitudes, racist attitudes, for not supporting you.
Harry Reed, your Senate majority flack, claims it's racist to talk about your association with your advisor, Franklin Reigns.
That would be alliances.
Alliances.
Alliances, yes.
With Franklin Reigns.
Sir, this has got to stop.
You have the power to tell your Democrat lackeys, your subjects, to stop taking the racial low road if you have the onions.
Or has the Reverend Jackson made good, sir, and surgically removed them?
And now a translation for EIB Brothers and Sisters in the hood.
My brother, what's up, Easy B?
Yo, check this out, yo.
It's time for you to lean on your homie Democrat boys and hippo, man.
You got to ease up on this race tip, yo, you feel me?
You HBIC now, man.
This is all.
Oh, HBIC, you the head brother in charge, yo.
You don't, you was raised up in Hawaii.
You don't know.
Okay, cool.
All right, dig this, man.
Your boy Carville, man, he's out there hitting the brothers gonna rise up in the streets if you lose, man.
What's up with that?
Like, we supposed to be some kind of riot forced on the white boys, Q, man.
What's up?
Okay?
Then you got this Sandra Bonhart girl, yo.
The big black brothers going to come out and like gang rape McCain's hockey girl if she kicks it in New York?
Like that's what the New York crew is, man?
We just like a bunch of rapists like waiting out there?
Yo, man, let me give you the 411, man.
Your girl Sandra Bonhart, man, you ever seen her, man, up close?
Yow, boy.
You could toss that girl over a prison wall, man.
The homies, man, even if they doing life, would toss her back out, yo.
Come on, man.
She ain't got no juice.
All right, man, this is ill, man.
You out here, man, talking all this stuff, man.
Your boys out here, like this Jim Crow stuff, man.
Black's going to hit the streets, yo.
They're going to riot.
Yo, gonna do all this, man.
What's up?
Then you got your boy Dingy Harry Reed, man.
So now it's racist, right?
To say that you and Franklin Fannie MacDaddy Reigns were kicking it together.
Everybody knows y'all were kicking it together, man.
That's not racist.
This wasn't about race, man.
This was about the money, yo.
That boy clocked $100 million out of Fanny, man.
I'll be kicking it with him, too, yo.
Okay?
So check this out, man.
This thing, man, all this waste stuff, man.
Y'all got to chill on this, man.
Here's the deal, man.
If you win the election, you're going to need to hold this race card till you start trying to roll out all them big programs, yo.
Then when Republicans start trying to rise up on them, that's when you say, racist, racist.
Right now, what you doing, man?
You just punking yourselves, yo.
All you're doing is scaring people, man, out here talking about rioting the street.
Man, the only thing people are going to be riding on, yo, is if they're if they, if they, if they keep, man, losing their homes, yo, while your boys in the Democrat Party keep taking their money.
All right?
That's the serious word.
That concludes this statement.
And that is the official Obama criticizer Boston Earthly, a brief EIB extreme.
Prophet Center Time Out will be right back after this.
Stay with us.
The views expressed by the host on this program documented to be almost always right 98.8% of the time.
The official Obama criticizer has just lit up Obama for not speaking out against his own supporters, suggesting there will be riots if the Messiah loses.
We always hear about riots in this.
We're going to have riots if that happens, have riots if that happens.
Who are the people rioting?
Who are the people protesting?
Well, when you look at who they are, the vast majority of them are supported by those of us who play by the rules.
We go to work every day and we pay our taxes.
What do they have to riot about?
When do we get to riot?
Look at what we've had to pay for.
We've had to pay for the second New Deal.
The Great Society, LBJ comes along with the war on poverty, the great society.
Now we're learning that we had to pay for a totally corrupt mortgage housing scandal in which Obama and Acorn are deeply embedded.
We have people who were given loans who had no way of paying them back.
They weren't even asked to state their income.
And when we hear about all these foreclosures, people losing their homes, and we think, oh my gosh, our fellow citizens are being thrown out.
No, it's the people who should have never been given the loans in the first place.
It's the people who weren't paying them in the first place.
It was people who were put into these homes when they had no business being put in these homes.
There's not a brief against them, but this was a scheme and it was a tactic employed by the Democrat Party exclusively to create a never-ending and growing percentage of our population that was totally dependent and owed everything to the Democrat Party.
And now their candidate and their guy, James Carville, is going to be very traumatic out there.
Very, very traumatic.
We know what he means.
When do we riot?
When do we stand up and say, we have paid for all of this?
We have played by the rules.
And now you come to us and you tell us that the whole reason this happened is because we are unfair and we are too advantaged and we are too lucky that it's not right that not everybody can win life's lottery.
I'm not suggesting riots.
Don't misunderstand, folks.
I'm just suggesting here that the people who are going to riot are the people who ought to be getting down and thanking every damn one of us because the New Deal number two, and by the way, if I think we're in the midst of the new deal number three here.
And why do we need a new deal number two if the new deal number one didn't work?
The new deal number one did not work.
It did not stop the Great Depression.
World War II did.
The New Deal number two, the Raw Deal, the Great Society, and all of that, what did it do?
Why are we having all these problems?
Why do we still have poverty?
Why do we still have people who are uneducated?
Why do we still have people who are down and out with no future inside?
Why do we have families, particularly the black community, who have been busted apart by all these well-intentioned, which I even suspect that's not true, programs such as the old AFDC promising, go ahead, have another kid.
Pop it out of the oven.
Here's another $1,500 a month.
So we destroy a family with a new deal number two, the whole community, and well, we need to do a new deal number three, which is what we're looking at now with all these massive bailouts that might be required.
So it's sort of like there's a variation on the theme of Atlas shrugged by Ann Rand.
After a while, John Galt said, screw it.
I'm checking out.
I'm through supporting everybody else.
Not my job, not my responsibility, not when they're not trying to help themselves.
Atlas shrugged.
To the phones, because it's Open Line Friday.
Normally, we don't go to the phones for at least 90 minutes on this program, but we're going to get there early because it's Open Line Friday.
We're going to start in Goshen, Indiana.
This is Jamie, and it's great to have you here.
Rush, first I got to say thank you and God bless you for all the work that you do.
And you don't know how much people appreciate what you, the truth that you bring to us.
Well, thanks, Jamie, very much.
I appreciate that.
My question is, I'm a little confused with the liberals and the Democrats.
You said earlier that they have, you know, the liberals are all these rich people that have all this money, but all they want to do is tax us.
Won't they be taxing themselves and getting rid of their own business?
This is an excellent question.
It's an excellent question.
And if this crisis were not going on right now, the answer to the question would be what I'm going to give you, but it's changed a little bit.
The first answer to the question is there's a big difference in income and wealth.
When you hear we're going to raise taxes on the rich, we're starting at $250,000 and going on up.
Now, if you make a lot of income, earned income, it's called in tax lingo, then the income tax rates, as you earn more, the marginal rates increase, apply to you.
But if you are wealthy and you have inherited a lot of money or you've earned a lot of money and now you don't take any earned income, you live off of the interest or the growth of your portfolio, then you're paying and living off capital gains, which is 15% right now.
You're not paying anywhere near $39,000 to $50.
And you're not paying any state income tax.
And so when we talk about the rich, we had a great call here yesterday, Jamie.
And this guy was so right on the money.
The Democrats out there, Obama talking about the American dream.
Well, the American dream stops at Obama when you make, with Obama, when you make $250,000.
Once you make $250,000, that's when they're going to start taking it away from you.
That's when your tax rates go up.
And that's when you keep less of what you earn by a significant amount.
The rich Democrats that always seem to not mind when taxes go up are genuinely wealthy.
They're not working and earning.
And I'm talking about Democrats in Congress, Democrats in think tanks in Washington, Democrats in New York.
I'm not talking about the rank-and-file Democrats across the country who have no idea how they're being scammed.
I'm talking about the elite Democrats who pass tax increase legislation.
I, for the longest time, said, What am I missing here?
Why do these guys want to raise taxes on themselves?
And it's not about raising taxes on themselves.
They don't do that.
It's about controlling everybody else's life by limiting your freedom, by limiting how much disposable income you have.
Now, this has changed, however.
And this is what makes this economic, this is a dual-edged sword for Obama because everybody says, oh, this is slam dunk.
Why, this economic collapse is going to send him over the finish line.
There are a lot of Democrats who make a lot of money, who had pretty big portfolios.
And like everybody else, they're down 20, 30%, depending on how much they're invested in the stock market.
And nobody likes losing 20 to 30 percent of what they have saved or more.
It scares them.
And then you pile on top of that, the new president's going to raise your taxes even more.
So I think your question, why would Democrats want to vote for somebody that's going to raise taxes?
Some of them may not this year.
I'm talking about rank-and-file Democrats across the country, not the elitists in the Senate and the House and everywhere else, bureaucracies, New York, Wall Street, who write tax law, support it, and so forth.
These people in New York that we're talking about in Wall Street, all this corporate greed stuff, these guys, they're all Democrats that run in these financial places with the exception of one big place.
They're all liberal Democrats.
And they've been hurt.
And when you have, I don't care if you have 50 million and all of a sudden it becomes 25 or 30, you are not happy.
You don't sit there and say, well, I still got 25 or 30 left.
You are not happy, just like when you lose 20 or 30 percent of what you have.
We'll be back.
Stay with us.
Okay, so Obama's going to pay $961,000 for his half hour on television.
▲
Export Selection