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Small Jump in Jobs as Obama Defines "Middle Class" up to $1M

BEGIN TRANSCRIPT

RUSH: Well, the jobs numbers are out and of course US employment increased far, far, far more. I mean, they are orgasmically happy here in the State-Controlled Media. "US employment increased far more than expected last month as private companies hired workers..." Why do you think this happened? It didn't make a dent in the unemployment number. I mean the employment number is still 9.6%. Now, if this growth doesn't even lower the unemployment rate by one-tenth of a percentage point, if it stays at 9.6% even after adding 151,000 jobs in October, how can it be called a solid and strong jump?

Why do you think it happened? I have a theory. I think that one of the reasons that hiring is starting to take place is that the people that do investing know history. They understand what the election of Republicans to power means. They understand what gridlock might mean. It might mean Obama's destruction will be brought to a screeching halt or at least slow down. So if this is legit -- and sometimes I think they just make up the numbers anyway, but if the number is legit -- I think it's a sign that people were happy and pretty confident that the Democrats were going to take it on the chin in the elections on Tuesday.

BREAK TRANSCRIPT

RUSH: Now, this is interesting. Just two days ago a full-throated defense of liberty on this program based around this idea that people in Washington, Barack Obama, are going to decide at what level of income people will be exempt from being blamed for all the economic messes created by Democrats like Obama. The Bush tax cuts are said to expire at the end of the year. Anybody making $250,000 a year or more will see their taxes rise to a 39.6% rate. Anybody below that ostensibly will not see their taxes rise -- although that's a lie. They will. Everybody's taxes are gonna go up. Nobody's taxes will be cut. Now from The Politico: "An income of $250,000 a year 'is dead as the dividing line' for distinguishing the middle class in extending the Bush tax cuts, the centerpiece issue of the upcoming lame-duck session of Congress." This according to nameless Democrat aides. "Instead, negotiations will begin around a threshold," now get this, this is important "of $500,000 or $1 million, the aides said."

"President Barack Obama said this week that he would make a new push to protect the middle class from the tax cuts' scheduled expiration at the end of this year. The new figures" remember now, we're talking $500,000 a year or $1 million a year "means a broader swath of Americans would be considered 'middle class' during the negotiations." So in the midst of all of this they're just going to proclaim that the middle class has grown and that now the middle class extends to incomes all the way up to a million dollars a year. Do you see the folly? Do you see how irrelevant all of this is? All this is is Obama and the Democrats responding to having lost the election and knowing full well that if these tax cuts expire there's no prayer, no hope of any economic rebound. But now they have to cast it in political terms, and all of a sudden just with a stroke of a pen, or the waving of a magic wand, the middle class is now defined for the purposes of this legislation as anybody making up to a million dollars a year.

I remember back in 1984 when Walter F. Mondull was promising to raise taxes in the presidential campaign, $60,000 a year was rich. If you made $60,000 a year or more, you were gonna get soaked. You were responsible for all the problems that occurred. Now it's a million! Anybody over a million dollars is the one that's gonna get punished. You are to blame for the economic malaise that we are in, and you are gonna have to pay a higher cost for it. Arbitrarily -- in an absolute, total blow to any liberty or freedom -- a bunch of people who have no knowledge (the most unqualified guy in the room in whatever room he walks into, a guy who's never met a payroll and doesn't know the first about the private sector) is now sitting there saying (Obama impression), "You know what? I'm gonna say the middle class is now a million dollars."

Whereas last week rich was $250,000 or above! Now, middle class is one million.

"'A higher threshold is more inclusive and doesn't make an enemy out of households that may be slightly above $250,000, but are still firmly in the middle class,' a senior Hill aide explained. 'It also simplifies the contrast message, by making it clear what Republicans are fighting for: a tax cut that is literally for millionaires.'" So, you see, it's all still about politics. The Democrats say, "Okay, fine. You want to exempt people from the tax increase? Fine, we'll go ahead up to a million dollars so they can say the Republicans fought to protect millionaires." That's what they want to be able to get away with saying. Now, here's the point. This is where the Democrats have stepped in it, and you can put a bag of manure in front of me and eventually they'll step in it. The Democrats from Obama on down have always said they're the guys looking out for the middle class. These are the guys making sure the middle class grows and doesn't take it on the chin. And now the Democrats are admitting they want to tax the middle class, so much so the middle class is gonna be defined as anybody making up to a million dollars a year. So the middle class is identified here, by accident I guess by the Democrats, as a target.

END TRANSCRIPT

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