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Public Enemy #1: The Achievers

BEGIN TRANSCRIPT

RUSH: You know who Obama is really hard on? I'll tell you who Obama's destroying. The people who have made it, the people who have achieved their success, that's one group of people. And they're being targeted, there's no question. A lot of them, they're paranoid, they think it's all going to be taken away, and they think that a lot of it will be. But at least they've made it. There are a whole host of Americans who are never going to have the chance to make it. And that's what rips me apart. Honest to gosh, folks, it breaks my heart. You can call them the working poor or the middle class, but the people that make this country work are out there to this day -- they may have lost their jobs, they may not, but they're striving to achieve. They want to get in that upper tax bracket. They want to have a nice house, nice car, that's America. They want to access the opportunity, and this administration's destroying it. And don't think that it's destroyed at $250 grand. Obama said he's not going to have a tax increase anybody over $250 grand. It's going to happen long before you earn $250,000 a year, but even if that doesn't happen, let's just say you're not going to have a tax increase up $250. When you get there, that's the end of it.

Your American dream is going to stop there. That's where you become Obama public enemy number one. That's when you become no different than an AIG CEO who got a bonus. You're just as guilty of thievery from this economy at the expense of somebody else as a CEO on Wall Street is. The real sad thing here is, and we can sing the plight of the people who have achieved are going to have it taken away from them and so forth, but at least they got there. The people who are trying to get there, if this guy succeeds in everything he wants, there's going to be a generation or two who won't get there. It's going to take a while to roll all this back once people have had their fill of this, which will happen, ten years, 12 years, 20, whatever. That's who I feel for. Those are the people we need to make the country work, people striving to improve themselves. It's just going to be that much harder for them to succeed with Obama and his policies in the way.

BREAK TRANSCRIPT

RUSH: I'm not sure how to pronounce the name of this town in West Virginia. This is Cheryl. Uhhh, is it Jane Lew?

CALLER: It is Jane Lew.

RUSH: Jane Lew, West Virginia. It's great to have you on the program, Cheryl.

CALLER: Thank you, Rush. Mega dittos from a very proud mother of a United States Marine Rush Baby.

RUSH: Well, God bless both of you.

CALLER: Well, thank you, sir. The reason I was calling is I saw on Fox News a small blip -- it wasn't much -- that the White House is now investigating how they can be the persons in charge of giving out bonuses to Wall Street CEOs, even to those who have not accessed TARP money. And my question is, when are people going to start using the D-word in association with this president? You know, dictator. That's what he wants to be.

RUSH: Well, there are a lot of words being tossed out out there. Marxist, statist, fascist, incompetent, conniver. The problem is when you use these words, the objective is to persuade people who don't yet see this. And if you start calling him a dictator, they're just going to tune you out. They don't think a dictator is possible in the United States. They're going to have to see evidence of it. You start calling him a communist, a Marxist, a fascist... Call them a Marxist, depending on their education level, and they'd be happy about that. I mean, they've been taught by Marxists --

CALLER: Right.

RUSH: -- in universities, and they may think it's a good thing.

CALLER: But --

RUSH: So it's a very, very, very, very, very delicate thing to go about persuading the cult-like here who are totally in the tank.

CALLER: I understand that, Rush, but if they would look at what Hugo Chavez has done, for an example, and now look at what our president is attempting to do, do they not see the parallels?

RUSH: You are asking irrational people to look at something rationally.

CALLER: Okay.

RUSH: You're asking the insane, as an analogy here, to snap out of it and be sane. You know with a (snap) snap your fingers.

CALLER: Well, I wish there was a way we could snap our fingers and make these people snap out of it and see what's happening.

RUSH: Well, Obama wishes he could push a button and socialize the country, and he's got a lot of buttons he can push.

CALLER: Yes, he does.

RUSH: Here's the story. Thanks, Cheryl. By the way, Cheryl is one of my all-time top ten favorite female names. Here is the story she's talking about. "Obama administration..." By the way, grab sound bite number two. Have it handy because it relates. "Obama Administration officials are contemplating a major overhaul of the compensation practices in the financial services industry, moving beyond banks to include more loosely regulated hedge funds and private equity firms. ... Any overhaul is likely to be tied the Obama Administration's broader efforts to curb systemic risk to the economy. That means the new rules could apply to financial firms like hedge funds or private equity firms that never accepted money from the Troubled Asset Relief Program, or TARP. It would also mean greater oversight on compensation for banks that are seeking to return the TARP money in an effort to avoid the new strings attached to pay."

So even if you return the money you may not be able to shake government overlords who are going to determine what you can make. Now, remember Geithner said the other day (we had the sound bite on Monday) they're trying to eliminate the boom. They don't want another boom. See, to them, an economic boom -- a giant boom in housing or whatever -- leads to a recession. They want to keep everything static. They want a zero-sum game economy with nobody doing very well and nobody doing very poorly. And when you do that, everybody ends up very miserable. And if they're going to say that they're going to control salaries and compensation of banks and hedge funds and so forth that didn't take TARP money, folks, they're eventually going to get around to saying how much you can make, whether you work at a hedge fund or not.

The only people they won't limit will be unions and the trial lawyers, the two major contributors. The unions and trial lawyers will not be subject to these kinds of limits, but everybody else will. Potentially. I mean, if they're gonna do this on Wall Street to eliminate booms... The City of New York is finished if they start doing that, if they start capping pay and bonuses and so forth. I mean, where do they think New York gets the money to run its welfare state? Mr. Snerdley, you look frustrated in there and have a question. What's the question? (interruption) Mmm-hmm. Mmm-hmm. Mmm-hmm. Mmm-hmm. Mmmm. The question on the table is: "How does this guy expect to get reelected if he's ticking off the guys on Wall Street this way?" What Obama realizes is that there are far many millions more people who can be made to hate Wall Street and applaud Obama for "cutting them down to size."

He can still get money from the unions. He can still get money from the trial lawyers. He can get money from Hollywood. He can get money from anywhere. He can get money from George Soros. He can get money internationally. I mean, the guy raised all this money. We don't know where it even came from because it came in under increments of 200 bucks and he didn't have to report it. All that money contributed to the Internet? That won't be a problem. That won't be a problem. He's banking on the factual that his class warriorism, his class warfare is gonna really psych up people for sticking it to Wall Street. They love those AIG execs getting protested in their front yards. He's gonna love being able to tell these guys on Wall Street, "I'm the one thing standing between you and the pitchforks." What you have to understand is that Obama is putting the pitchforks in the hands of the people who are ready to storm the castle.

END TRANSCRIPT

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