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While Committee Falls Apart, Obama Pushes Silly Tax Credit That Won't Help Veterans

BEGIN TRANSCRIPT

RUSH: Well, Obama's nowhere to be found. In fact, we have a piece here at TheHill.com: "Where in the World is Obama? -- The president was in Hawaii while the super committee hit stall speed. What is new about this? Very little. Throughout his term, President Obama has avoided leading on the issue of fiscal responsibility. He walked away from his own commission, the one led by" Alan Simpson Babe and Irksome Bowles. It's Judd Gregg who wrote this. "Now in a week when leadership is needed to push this critical committee to do something big and bring the nation's fiscal house back into order, the president once again disappears. ... The general consensus is that neither he nor the people around him feel there is a great upside to doing something that involves making so many difficult decisions to straighten out our nation's fiscal future." This is Judd Gregg. It's a good piece in all. But would somebody explain -- if we're in trouble and if it's so grave, if it's so crucial, and, "We've got to do this budget thing and we've got to get it done! We're at the crossroads! We're at the point of no return! (all of the usual threats)" -- why only 12 people are dealing with it on the super committee? How come it was farmed out to 12 people? Why isn't the whole Congress working on this and the president? Well, we know the answer.

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RUSH:  I thought Obama's supposed to be on a nine day trip?  Had you not heard this was a nine-day trip?  Looking at the schedule, maybe not.  He was in Australia Tuesday through Thursday, went to Indonesia Thursday and Friday, and he's back, and he's trying to scare veterans.  Grab audio sound bite 25.  This is the Eisenhower Executive Office Building.  Obama signed legislation into law that will provide tax credits that will help put veterans back to work.  This a portion of what he said at the signing ceremony.

OBAMA:  Tomorrow I'm heading to New Hampshire to talk about another proposal in the American Jobs Act, and that's a tax cut for nearly every worker and small business owner in America.

RUSH:  Sigh.

OBAMA:  Democrats and Republicans have traditionally supported these kinds of tax cuts.

RUSH:  Tax cuts.

OBAMA:  Independent economists from across the political spectrum have said this proposal is one of the best ways to boost our economy.

RUSH:  Total excrement.  Total excrement.

OBAMA:  It's going to be easier for us to hire our vets if the overall economy is going strong, so there's no reason not to vote for these tax cuts.

RUSH:  Of course not.

OBAMA:  And if Congress doesn't act by the end of the year then the typical family's taxes is gonna go up by roughly a thousand dollars.  That's the last thing our middle class and our economy needs right now.  It is the last thing that our veterans need right now.

RUSH:  I'm so sorry, folks, interrupting the Dear Leader.  I just can't help it sometimes.  It's not that he tells lies. I don't know about you, I don't react well when my intelligence is insulted, when he treats me like I'm an absolute idiot.  There are no new jobs in the American Jobs Act.  There aren't any tax cuts in it.  And he wants taxes to go up.  Here he is acting like he doesn't want taxes to go up.  The way to answer this, though, is how come tax cuts are good for veterans and nobody else?  What's wrong with everybody else getting a tax cut, too?  Why not tax cuts for hiring everybody?  Why does somebody only get a tax cut for hiring a veteran?  And, by the way, there aren't any tax cuts for that.  It's a smoke and mirrors game.  It's a tax credit that's not nearly offset by what it's gonna cost to hire anybody, veteran or otherwise. 

There's no reason to hire somebody, okay?  That's the first thing that is dynamically true.  Take a business, no reason to hire anybody.  Here comes Obama with a phony, artificial plan for people to start hiring people.  That's not how jobs are created.  Presidential edict, tax policy.  Jobs are created because of the demand for work.  A job is created when somebody needs some work done.  But let's play this out.  Employer A, looking at his business dynamically, has decided he doesn't need to hire anybody, because there isn't additional work he needs done because of the condition of the US economy.  But here comes our Dear Leader, he's got a great plan, he's gonna offer a $2,500 tax credit for hiring a veteran. 

So our employer, who has no reason to hire anybody because he does not have additional work, says, "You know what, I'm gonna be patriotic. I'm gonna go out there and I'm gonna hire this veteran.  And that's gonna cost me $50,000 by the time I roll in health care coverage and other sick days, vacation, salary, gonna cost me 50 grand, and my president's gonna give me a $2500 tax credit.  Oh, man, what a deal.  So I'm gonna go out and spend $50,000 to get a tax break of $2,500."  Somebody like that deserves to go out of business.  Somebody that stupid, somebody making business decisions like the ones, or opportunities, quote, unquote, like the ones Obama is offering deserves to go out of business. 

"Yep.  I'll tell you what I'll do, Mabel. You know, we don't really have any work out there that needs to be done, but I want to be a good patriot, so I'm gonna go out and I'm gonna hire a veteran at 50 grand, and my president's gonna give me a $2,500 tax cut." 

And Mabel says, "But we don't have the 50 grand." 

"I don't care, Mabel, president says hire a veteran, I want to be patriotic." 

"But we don't have the $50,000, Harry." 

"Don't care, Mabel." 

Not how jobs are created, folks.  And, by the way, nothing against veterans as you all know, but why not a tax cut for hiring a homeless guy?  Why not a tax cut for hiring anybody who's outta work?  Why just veterans?  "Because, Mr. Limbaugh, the president is trying to show how deeply he cares about America's veterans who've lost everything.  They started with nothing. They live in a rotgut country that offers them nothing. The only solution or route they had to success was to join the military, and they did and have been wounded or killed so the least they deserve is a job."  And that's how Obama looks at it.  So it's pure political opportunism.  

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