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Coming Soon: The Wealth Tax

BEGIN TRANSCRIPT

RUSH: Rasmussen poll: Seventy-two percent believe small business owners are primarily responsible for their own success. Seventy-two percent. Ought to be 99%, but we'll take it. Seventy-two percent. It's gonna make it tough for Obama. Obama, as I say, is trying to do just the opposite. He's trying to tell people that they don't earn what they earn. They don't own what they earn. It isn't theirs, it's government's, it's all government's. He wants to socialize profit and wages. The premise being that it wouldn'ta happened without government.

Government owns it all. And, by the way, there's your wealth tax. There's the institutional framework for your wealth tax. Where is Eric Holder on this voter suppression business? Here you've got the president admitting, one of his guys admitting in the New York Times, that their objective is to suppress a portion of the electorate vote. Where is the attorney general? This is Loretta in Flint, Michigan. Great to have you on the program. Hi.

CALLER: Rush, what an honor. I am almost speechless.

RUSH: Well, I'm glad you're not.

CALLER: I have been wondering why someone hasn't brought up the fact that why do they have to do anything about this tax, because they've been saying for ten years, it's only for the rich, only for the rich, for the rich. So why do they have to do anything? The rest of us don't count anyhow.

RUSH: You mean the Bush tax rates?

CALLER: That's what they're talking about, the Bush tax cuts.

RUSH: Well, it's a good point. The Bush tax cuts, the Democrats want you to believe, were only for the rich. And so if the Bush tax cuts are only for the rich, why do we have to extend them? Why don't we just eliminate 'em? Well, the genie's out of the bottle on this. Obama himself and the Democrats have admitted that the Bush tax cuts were tax cuts for everybody. But they're no longer the Bush tax cuts, like you said. They're 10 or 11 years old. They're now the current rates. They're not tax cuts. Anything Obama does to them will then be an increase or a cut. But they long ago ceased being tax cuts. They only say that because they always thought they were gonna be temporary, and every chance they've had to get rid of 'em, the Democrats have not. Every chance they've had to get rid of them, the Democrats have instead chosen to extend them, 'cause they don't want to do too much damage to the economy in election years.

END TRANSCRIPT

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