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Government Motors Union Ownership Exacts Revenge on White-Collar Workers

BEGIN TRANSCRIPT

RUSH: There's a story here. This is another one. Most people would read this and wouldn't connect the dots, but look at this one. This is from the Wall Street Journal: "General Motors Co. is freezing the pay of its 26,000 U.S. salaried employees and will eliminate its traditional pension contribution for those salaried workers who still receive them in moves to reduce financial risks and cut costs." Well, guess who owns General Motors now? You say "Obama." No, it's the unions, the United Auto Workers.

Guess what's going on here. Do you realize the grievance and the chip on their shoulders that union leaders and thugs have had for years over white-collar people? "Well, it's payback time now! Now the union owns General Motors, backed by the government. So it doesn't matter! We can make a car that nobody wants, and we can someday demand that you drive it. Just wait. Furthermore, we're gonna show these management types what it's been like all these years! They wouldn't give us a new contract. They tried to do cut our pensions, they tried to deny us our freedom, they tried to deny us our fair wage. Okay, it's payback time!"

It's exactly what this is. GM cuts benefits and salaries? GM is the unions! It's payback time all over the country, from the days of the founding. The 1%, as envisioned by the Democrats, are in the crosshairs -- and the 1% are the achievers. And it doesn't matter their race, it doesn't matter their religion, doesn't matter anything. What matters is that they succeeded on their own. They acquired and amassed their own wealth. They are the targets now. That's what this means. Harmless little story: "Oh, yeah, GM, they're behaving responsibly. Sure, they having to cut costs just like they always did." No, this is payback. This is payback for all the years the union was mistreated by the white-collar management types at General Motors.

BREAK TRANSCRIPT

RUSH: And, by the way, General Motors (i.e., the unions) are cutting white-collar pensions, salaried pensions, and converting them to 401(k)s. They're reneging on deals. The bottom line is: General Motors just recorded its largest profit ever in 2011. They just announced this. Their largest profit ever (if we're to believe that) of $7.6 billion. The old record profit was $6.7 billion in 1997 during the pickup and SUV boom. I'm kind of surprised by this, too. "General Motors earned its largest profit ever in 2011, two years after it nearly collapsed." Now this is the State-Controlled Media. But look, I'm gonna get sidetracked. The bottom line is, you think this isn't payback? Largest profit ever, and what do they do? Tell the white-collar guys, "Okay, it's your turn to get screwed!" (interruption)

No, it wasn't from the Volt. The profit wasn't from the Volt.

BREAK TRANSCRIPT

RUSH: I should add that because of the bailout and the special deals, General Motors does not pay any income tax. They pay no corporate tax for ten years on whatever profits they earn.

END TRANSCRIPT

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