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Dec. 5, 2012 - Rush Limbaugh Program
37:32
December 5, 2012, Wednesday, Hour #2
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Right there it is up on CNN Obama demanding tax hike on wealthy and of course the Republicans agreed to do that uh today and actually earlier in the week by reducing loopholes.
But Obama's not gonna be content with that.
He wants the rates to go up too.
Make no mistake.
And they will.
Great to have you back, L Rushbo at 800-282-2882.
If you want to be on the program, the email address L Rushbo at EIBNet.com.
Here.
I've got Obama in his own words, back to back.
Let's go July 22nd at the White House.
This is Obama, a press briefing on the debt ceiling talks at that time.
What we said was uh give us 1.2 trillion in additional revenues, which could be accomplished without hiking tax rates, but could simply be accomplished by eliminating loopholes, eliminating some deductions, and engaging in a tax reform process that could have lowered rates generally while broadening the base.
That's last year, July of last year.
Yeah, we could raise 1.2 trillion just by closing loopholes and and and uh eliminating deductions.
Here's Obama yesterday.
It's not me being stubborn, it's not me being partisan, it's just a matter of math.
You know, there's been a lot of talk that somehow we can raise 800 billion or a trillion dollars worth of revenue just by closing loopholes and deductions.
Yeah, you did.
But a lot of your viewers understand uh that the only way to do that would be if you completely eliminated, for example, charitable deductions.
Well, i if you uh eliminate trouble deductions, that means every hospital and university and non-for-profit agency across the country would suddenly find themselves uh on the verge of collapse.
So that's not a realistic option.
Yeah.
Last year it was.
Last year was a totally realistic option.
Right out of Obama's mouth.
This year, ain't no way.
You'd have to eliminate them all.
And then he says, yeah, and what's wrong with that?
I'll gladly be the sole benefactor for hospitals.
I'll gladly be the sole benefactor for universal.
I'll so I'll gladly be the sole benefactor for nonprofits.
That's what he wants anyway.
By the way, uh you gotta hear this.
Grab sound by number one is Joanne Watson.
City council meeting last night in Detroit had a talk, conversation, a meeting about Detroit's financial crisis.
And this is the council member, Jo Ann Watson.
After the election of Jimmy Carter, the Honorable Coleman Alexander Young, he went to Washington and he thinks he came back home with some bacon.
Right.
That's what you do.
That's what you do.
This is uh our people in an overwhelming way supported the reelection of this president.
And there also be a quid pro quo, and you also exercise leadership on that.
Yeah, so basically she's saying Obama bail us out.
We voted for you, dude.
Bail us out.
There gotta be a quid pro quo.
The old mayor, Coleman Young, he went to Washington, he came back home with some bacon.
Well, we want some bacon.
We want some pork.
So the city council of Detroit asking for an Obama bailout.
And people say, people get righteously indignant when you say that Obama is Santa Claus.
When you say that people voted for Obama because he's Santa Claus.
Here's Joanne Watson admitting it.
Okay, California.
I have been waiting for this.
I have been hoping something like this would happen.
California proposition 30.
We talked about this before it happened.
We talked about it after it happened.
Proposition 30 was essentially Californians voting to increase taxes on themselves.
And it passed overwhelmingly.
And when it did, both the former mayor of San Francisco, former Assembly Speaker Willie Brown was ecstatic, he was happy.
He said these tax increases, these are gonna matter.
Somebody said, Why are they gonna matter more than others?
Because the people voted for these.
Meaning we didn't saddle anybody with these.
They asked for them.
They voted these tax increases on themselves.
And of course, Governor Moonbeam was all ecstatic as well.
As you know, I read tech blogs as a hobby.
And one of the tech blogs I read is owned and operated by the Wall Street Journal.
It's called All Things D, All Things Digital.
You may have heard of it.
And it's not just a blog, it's a full-fledged uh website.
And they ran a piece yesterday by a guy named Ethan Anderson, who is identified as a Silicon Valley entrepreneur, a former Google product manager, and the founder and CEO of Red Beacon.
Also the 2009 Tech Crunch 50 winner, which was acquired by the Home Depot earlier this year.
And he writes a piece called What Proposition 30 Means for California's Entrepreneurs.
I don't know this gentleman.
I don't know who he is.
I don't know anything about him.
Ethan Anderson.
I do not know what his political leanings are.
But the title of his piece, What Prop 30 Means for California's Entrepreneurs.
Here's a few excerpts.
Nothing terrifies investors or entrepreneurs as much as the concept of expropriation when governments decide to expropriate legally obtained assets.
Entrepreneurs who work tirelessly to build businesses, and investors who risked scarce capital end up with little to nothing for their troubles.
What this means for those of you in Rio Linda is he's decrying in expropriation is high taxation.
Practically expropriate is taking people's property, which is what happened in Prop 30.
In fact, he writes, developing countries often get saddled with country risk premiums, making it harder for them to attract capital because the mere threat their governments will someday seize profitable companies or industries keeps investors away.
So, he writes, it is all the more puzzling that California, the home of Silicon Valley, and the densest concentration of entrepreneurs in the country and maybe the world would pass Proposition 30 last month.
He doesn't believe it.
He can't believe it.
He doesn't understand how it happened.
How did a state with so many entrepreneurs vote to raise taxes on themselves?
It's a good question.
Now California's two states are made, well, you've got the coastal cities, you have San Francisco and the suburbs there on the on the coast, all the way down, you know, Palo Alto, San Jose, all that.
And you've got Pebble Beach, Monterey, very well to do, Carmel.
Keep going, get down to LA, Santa Barbara, Montecito, get San Diego.
I mean, you're talking even up north to Humboldt County on the coast.
You're talking very well to do.
But then you go to the interior to the agricultural valleys, and you have an entirely different state, and you have an entirely different demographic makeup.
It is in the interior valleys where the real damage of illegal immigration has occurred.
You have crime that's not stopped, criminals that are not dealt with, theft, farmers cannot do their jobs because the liberals that run this state have passed wacko environmental laws to protect snail darters and kangaroo rats and this kind of thing.
And you know, we've been chronicling all this for the 25 years that we've been here.
But as far as the people who live in the coastal cities are concerned, they don't know about any of that.
They never go there, they never see it.
California to them is Atherton.
California to them is San Francisco.
California to them is Palo Alto, San Jose, Cupertino, LA, Santa Barbara, Beverly Hills, San Diego, La Jolla, San Rafael, Martinez, all those glorious places where all this entrepreneurism is and all this wealth is, and where real estate values, prices are the highest in the country.
And by the way, keep going, and you'll get to Seattle, where it's the same.
And they just can't understand.
And I've I will I would hazard a guess that many of these entrepreneurs, in fact, I know, CEOs at many of these entrepreneurial companies not only voted for Obama, they raise money for him.
They bundled donations for him.
Virtually every tech leader you can think of out there is a huge full-fledged Obamaite, which means they openly, eagerly vote Democrat.
What do Democrats do?
They raise taxes on everybody.
Now, Prop 30 is not Obama.
I understand that, but it's it's a Democrat liberal state.
The Republicans are not even a presence there anymore.
People voted tax increases on themselves, and I guarantee you who it is.
It includes, it's not just, but it includes some of these various entrepreneurs.
They did it, it makes them good liberals.
But this guy, Ethan Anderson is just stunned.
It's all the more puzzling that California, home of Silicon Valley, and the densest concentration of entrepreneurs in the nation would pass Prop 30, regardless of your personal views on the issues of taxing and spending.
There's one thing, he writes, that cannot be overlooked.
Prop 30 includes gigantic retroactive tax increases on legitimate capital gains and ordinary income.
It dates back to January 1 of 2012.
Notice he says legitimate capital gains.
The implication there is some of it's not legal.
The top marginal rate, he writes, jumps to a staggering 13.3% of income.
Oddly, California does not distinguish between ordinary income and capital gains like the federal government does.
The result is we have nearly doubled the 15% federal capital gains tax rate, and this applies to income earned in the past for which taxes have already been paid.
Now this sounds like a guy who didn't know what he was doing, doesn't it?
I don't know if he opposed Prop 30.
I don't know, again, don't make any assumptions about Ethan.
I I have no clue whether I don't know.
All I know is what he's writing here.
And it's clear he doesn't understand the makeup of the state that he lives in.
And it's clear he doesn't understand what liberal democrats mean.
He's surrounded by them.
I don't know how anybody my point is this, I don't know how anybody in California can be shocked.
They live there.
The Democrats run that state.
Being a Democrat means something.
Being a liberal means something.
All they do is talk about raising taxes on the rich.
I'm sorry, entrepreneurs think of themselves as rich.
He's talking about successful entrepreneurs.
He's sitting out there, he can't believe that California voted to do this to itself.
As is the case with many propositions, the voters may have been fooled by the governor and his allies who aggressively pitched it as a way to save education in our state.
They weren't fooled, Ethan.
My point is the vast majority of people that voted for Prop 30 knew exactly what they were doing.
And to the rest of us, it makes it even more curious.
So he says, yeah, these people get fooled by the old, it's for education lines, like the lottery for education line.
In fact, the money from Prop 30 simply replaces money the governor redirected from education to other priorities in his 2013 budget.
So a more honest and fair characterization of Prop 30 is a general purpose tax increase in the state, which already has the highest income tax rates in the country.
It isn't clear, he writes, that most Voters had a very good understanding of the tax increase's magnitude or retroactive nature.
I submit that they did.
You know who might not know?
All these entrepreneurs.
How could you?
See, this is one thing I intellectually don't understand.
I do not understand a self-reliant, rugged individualist entrepreneur finding anything attractive about the Democrat Party.
I just don't understand it.
Because I associate being a rugged individualist, successful entrepreneur with intelligence.
And I associate that with being able to observe things, learn things, see things, remember things.
How do you not know in a state run by liberal Democrats that's in debt out the wazoo that tax increases are heading down the pack?
In fact, when somebody proposes a proposition like this to raise taxes and make it retroactive, and the people of the caliph of California vote for it, how can you deny that what was meant to be happened?
It's a comforting place to be to think what people got fooled in California.
And maybe some were, and I would dare say the people who were fooled are the ones who consider themselves the best and the brightest.
I mean, after all, if you think as an entrepreneur and as a CEO and as a rugged individualist and as a uh venture cap, if you think somebody like Obama is on your side, if you think Obama doesn't want your money because you voted for him, I I I Obama wants everybody's money.
Obama has as much what's the word?
He has as much anger at wealth accumulated by liberal democrats as he does by anybody else.
He's just not going to say it in such ways as to anger them.
He needs their votes.
So he'll speak in social justice language to them.
He'll speak in the fairness and equality, because these liberals all want to feel like they're good people.
And so they'll happily vote for a political party which claims to want to punish people who've had an unfair break in life or what have you.
But how they overlook that they're also in the crosshairs of tax increases is something I don't get.
How did they not know that they too are in the crosshairs?
Now many of them expect by their association with Obama to be at the table of power.
Many of them expect to be in his close circle, sort of groupie like, or at least the standpoint of crony capitalism, be involved, get some government subsidies for their business, what have you, though gladly take that in exchange for paying a little bit more taxes?
It gives them more relevance and power, stature in their community and all that, but strip that away still.
How do you be the best and how do you not know this was going to happen?
How do you not know?
Prop 30 is what it is.
It wasn't hard to understand at all.
That's why it passed.
Prop 30 was sold as a tax increase on everybody else.
It's the simplest way to sell a tax increase.
We're going to tax the rich, we're going to tax all these people that have too much anyway.
Who do the entrepreneurs think they are?
They're the people who have too much to the people that live in the interior in the valleys, outside the coastal cities.
So when he says it isn't it isn't clear that most voters had a very good understanding, I think they did.
I got to take a break.
We'll be back.
Don't go away.
Okay, we're back.
El Rush Bowden, cutting edge of societal evolution, half my brain tied behind my back, just to make it fair.
Ethan Anderson, I again, I don't know what his politics are.
And really he's not my focus here.
Because it's just it's still a fascinating piece.
For example, uh subheads in his piece, Prop 30 hits entrepreneurs the hardest.
He defines who an entrepreneur is.
Works hard, invests his own money, borrows a lot of money, often works without a salary, creates jobs, all the you know the the the this the people that this country's waging war against right now.
The entrepreneurs.
The people Romney was talking about, how could I just don't some of this intellectually I do not understand?
These kinds of people voting for Barack Obama or any, or Jerry Brown or a Prop 30.
And then there's a subhead piece here, what Prop 30 will mean for California's entrepreneurs, and it ends up talking about the exodus from the state of California that will happen here by these people.
Once they realize that, as he mentions, Willie Sutton said, Why do you rob banks?
That's where the money is.
Why do you pr pass Prop 30?
Because you got to raise money where people have it.
So they are the targets, and they just voted to make themselves targets.
This state votes Democrat massive majority numbers.
Every election, local state doesn't matter, other than a few small congressional districts.
So it could well mean the point of all this that I could be holding in my hands here the very small beginnings of a bit of a backlash.
But we'll take it.
If it's happening, if it does happen, it's going to be small and it's a little late, but it still may be happening.
And again, it may mean nothing.
But still it fascinated me.
I wanted to share it with you.
I got a brief timeout again because I went long in the opening monologue.
But we will be back soon.
Don't go anywhere.
Oh, yeah, yeah.
Snerdling, I expect to be fully mischaracterized on the tech blogs for my my comments on this piece.
But I'm just gonna tell you, I don't care where you go out there.
Facebook, Twitter, Apple, HP, I don't, well, not HP, but I don't care.
The venture capital, they all vote Obama.
They all raise money for Obama.
They all go to Obama fundraisers.
And if you vote for Obama, if you if you go to Obama fundraisers, if you raise money for him, if you bundle for him, you may as well vote for Proposition 30.
They're identical.
They're voting for the same thing.
You are voting against your own wealth.
When you vote for Barack Obama, when you vote for the modern day Democrat Party, you are voting to open your back pocket, both personal and business.
And how they don't understand that is mystifying to me.
Except I think I know how they're they're lassoed, and it they're lassoed with the social justice aspects of the Democrat Party message.
The whole fairness, um, uh, the, if you vote Democrat, you can't possibly be a racist, sexist, bigot, homophobe, uh, The Democrat Party Obama are cool and hip.
So you can be cool and hip and lose your wealth all in one vote.
You should try to feel good about yourself.
Do you let me ask you a question?
When you were in junior high or high school in science class, did you ever break a thermometer to play with mercury to see what it would do once you?
You didn't.
Well, we did all the time.
We wanted to, you know, Mercury is heavy.
Uh we we played with mercury all the time.
High school, you would take a thermometer in and we'd break it.
Yeah, we had thermometers.
Yes, snurdly.
And we had mercury thermometers.
Yeah, you could you could watch the mercury go up and down according to whether or not you had fever.
There was silver.
Try to trick question, was it red or blue?
It was silver.
The mercury was still anyway from Florida here, Seminole High School locked down.
A chemistry project caused a big problem at Pinella's Seminole Hascruel yesterday morning.
The Pinellas County Sheriff's Office said that students were given an assignment to bring in a substance from the periodic table of elements.
One student brought in mercury Contained within a thermometer, and the school went into lockdown.
Now excuse me.
Do not compact fluorescent light bulbs have mercury in them.
And excuse me, but if one of those things break, do you not have to call hazmat to come clean it up?
You do.
The compact fluorescent has replaced the incandescent because it's destroying the planet.
People that vote for Obama and entrepreneurs in California believe that crap too.
So a kid brings in a mercury thermometer and they lock down the school for crying out loud.
Deputies say the thermometer was discovered as the substances were checked before going through the school.
No one was put in harm's way.
But a hazmat crew was there as a precaution.
I do not believe No wonder we're raising a nation of wusses.
We locked down a school because of mur Maybe Bob Costus will give us a commentary during halftime of the football game Sunday night.
For crying out loud.
This is just and get this from the Huffing and Puffington Post.
Woman files false rape claim because she didn't enjoy the sex.
Oh, that got everybody's attention.
It's out of Clarksville, Tennessee.
A Clarksville woman has been charged after coming clean to the cops and admitting she lied about being raped.
Now wait.
The feminists have taught us that women don't lie about that, right?
And that kids don't lie about it either.
Kids don't lie about abuse, and women don't lie about rape.
Police said that Lynette Lee, and there's a picture of Lynette Lee here, and it just makes you wonder about the whole story, but leave that aside.
Police said that Lynette Lee admitted to a Clarksville detective last week the rape claim she had made earlier in the month was false.
She said she had only made the claim because she didn't enjoy the date.
In November, on November 23rd, Lynette Lee told a cops that after meeting up with the man she met online at Meet Me dot com, she and the man had gone back to a hotel together.
According to a report, Lynette Lee said that once at the hotel, the man removed her clothes and despite her protests had sex with her.
That would be rape.
The suspect in the case was called in by the Clarksville cops, and he told officers that he and Lynette Lee had been out on a date and engaged in consensual sex.
During a second interview with the cops on November 27th, Lynette Lee told a detective that she wanted to drop the whole case because it was a lie.
Police said Lynette Lee told them she had lied about the incident because she didn't enjoy it, and it was bad.
Well, they had sex, so she said I I called it rape because I didn't enjoy the sex.
Police charged her with filing a false report.
Bond was set at a couple thousand dollars.
You ever heard of that, Snerdly?
Never heard of this one either.
Guys, I'm telling you be on the lookout for this.
So now if a woman agrees to have sex with you and she doesn't like it, you could be charged with rape, depending on what else happens during the evening of bliss.
And a little rock church has canceled a student matinee performance of Merry Christmas Charlie Brown after critics complained.
Remember this a Little Rock Church has canceled a student matinee performance of Merry Christmas Charlie Brown after critics complained his show was too religious and therefore violated the establishment clause of the U.S. Constitution.
It's not our desire to put hardworking sacrificial teachers and cast members in harmway, said the pastor of Agape Church, Happy Caldwell.
While we regret the loss of students who'll not get this particular opportunity right now, we've taken a school matinees off the table.
Cancellation Came as the Arkansas Society of Free Thinkers.
The Arkansas Society of Free Thinkers told TV station KATV they had received legal advice on pursuing a possible lawsuit against the Little Rock School District.
Now, didn't this country just finish getting hysterical about Big Bird?
Didn't this country just go nuts defending Big Bird Romney after killing his dog?
And the guy's wife then wanted to kill Big Bird, right?
So we couldn't have that.
Okay, then I want to get hysterical defending Charlie Brown.
This little church got a pastor named Happy Canceled a performance of Matinee for public school children, who apparently will be interminably negatively affected.
The thinly veiled Christian message in Charlie Brown.
Now, we've had stories like this for 25 years, and every time it comes, we sat here, laughed at it, we chuckled at it, we thought, well, what a bunch of kooks and idiots.
Do you realize they are the majority now?
This is, these are the kind of people that show up now and vote.
This is the low information voter that determines presidential elections, apparently.
And now there's a group of little kids who think Charlie Brown is uh is is too religious.
They're gonna grow up believing this.
And this stuff is cumulative, and it happens on top of itself.
And all these years we thought it was pretty much laughable and unique, not very commonplace or widespread, and we laugh at it.
And in fact, it's all over the place stuff like this.
It is literally all over this kind of pollution, corruption of innocence is all over the place.
The public education system, and now even um even in some churches.
Brief time out, ladies and gentlemen.
El Rushbow here, as usual, half my brain tied behind my back just to make it fair.
Be right back.
Don't go away.
Well, okay, some you the Charlie Brown incident, you want to say the Rush, they're not the minority.
They're a bunch of tiny little major uh they're not the majority, they're just a tiny little minority, and they're bulldozing us.
They may as well be the minority, then, or the majority.
So let me start again.
Rush, you may think they're the majority, but they're not.
There's just one wacko parent in Little Rock.
Yeah, well, one wacko parent intimidated everybody.
It may as well be the majority.
All they gotta do is threaten a lawsuit, and everybody shuts up.
Nobody stands up for what they believe in anymore.
Let the malcontents run away with everything.
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Doug in Seattle.
I'm glad you waited.
Great to have you on the program, sir.
Hi.
Good morning, Rush, from sunny Liberty Sicco, Seattle.
Yes, sir.
Welcome to the program.
Well, 23, 24 year old listener, first time caller.
First time I've ever called the radio show in my life.
Oh, I'm honored.
Got through to Snerdly on like the third rank, so unbelievable.
Well, I'm glad you made it.
Thank you, sir.
Thanks.
Well, I I agree that any tax hikes by Obama or the Republicans for that matter is is uh not going to solve anything.
But I have a I have an idea for a very simple plan, very understandable by even the American people, and I know that's a that's a tough nut to crack, and probably or could put Obama in a bind.
And here's the plan.
Are you ready?
I'm ready.
Very simple.
You redefine middle class to about four to five hundred K. That gets the people in the high cost areas, New York, California, Washington State, you know, which really is middle class in a lot of those places, gets them into the middle class.
You lower the tax rates for the middle class down to 15 or 20 percent.
They already are.
So the ma the maximum you're gonna pay is fifteen or twenty.
If you want to make it lower for people in the lower middle class or lower class, that's great, no problem.
And here's the here's the biggest thing.
Any savings by the middle class, capital gains and and gains they make.
Capital gains, dividends, interest if they have money in a bank or they own a bond, anything they make in savings is tax-free.
No tax ever.
You know, I've I've I've thought about an idea.
I've I've got to take a break here, but I've actually thought of something similar to that.
We'll be back here in just a second.
If there was no tax on savings, like our previous caller said, you'd have to get out of the way for all the flood the capital flooding into this country.
Why do you think people go offshore?
Is to escape this kind of stuff.
There are clearly all kinds of ways to build up this economy.
Obama's not interested.
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