Kardashian Pregnancy Scare
RUSH: Kim Kardashian suffered a major pregnancy scare. She's okay. She's okay. But she's a major pregnancy scare out there. TMZ had the story. Well, we've got the story.
WaPo Poll: Majority Favor Non-Defense Budget Cuts
RUSH: The Washington Post has a poll that shows a large majority of Americans support government spending cuts while sparing the Department of Defense. A large majority. It's by Jon Cohen and Sean Sullivan. "Americans broadly support an across-the-board cut in spending for a government often seen as wasteful, but there is wide opposition to blanket cuts to the military, according to a new Washington Post-ABC News poll."
Now, folks, this is textbook. The Washington Post is ticked off at its own poll. They don't like the results of this poll. In fact, they never mention what the actual totals are, their percentages. You have to get that from looking at one of their charts. I kid you not. They have a poll out, and they open up by saying Americans broadly support an across-the-board cut in spending.
Folks, it's another glaring example. The American people support the exact opposite of what Barack Obama is doing. Yet another example, yet again, and by a wide margin of people. It's a funny thing here to read this Washington Post story. It turns out that a 5% across-the-board cut in overall spending is supported 61 to 33. We are not on the losing side when it comes to the majority of thinking in this country.
Flacco is Highest Paid NFL Player, But Taxed into Second Place
RUSH: Joe Flacco is the quarterback of the Baltimore Ravens, and he just signed the largest contract for any position for any player. It's the richest, the wealthiest, the biggest contract in NFL history. So he is the highest paid quarterback ever. He's the highest paid player. But there's an interesting story here from Americans for Tax Reform, that because Joe Flacco lives in Maryland, he doesn't get the most money. He's the highest paid, but he lives in a state where 52% of every dollar he earns is taken in taxes.
What Americans for Tax Reform did was compare what Flacco would keep if he lived in a no-income tax state such as Texas. He could play for the Houston Texans or the Dallas Cowboys. In Florida he could play for the Jaguars, Tampa Bay Buccaneers or the Dolphins. In Tennessee he could play for the Titans. Well, that would be it. So here are the numbers. Right now, with the annual money that Flacco is making, he'll pay $8.7 million in federal taxes. He will pay $1.7 million in state and county taxes.
His total tax liability every year... He's not gonna be paid this way, because a lot of it is bonus money, but they've amortized it over at length of the deal. It's a six-year contract. So they've taken basically $120.1 million (I think that was the deal) and they've divided it by six and they've got an annual, and they're using it here as an example. He may not actually be paid that way, but if he were, this would be what it'd work out to. He would pay $10.44 million in taxes.
If he lived in Florida, instead of paying $10.44 million in taxes, he would pay $8.7 million in taxes. So essentially, it's costing him an additional $1.7 million in taxes live in Maryland. Now, it's not that he has a choice. The Ravens... Well, he coulda gone free agent if he wanted to. He could have tested the market. But it's not that point. The point is the difference. Now, the thing is, most people don't make this kind of money, nowhere near it. All they can do is dream of it.
Most people would probably tell you, "Well, look, if I'm making $20 million a year, and I still have $9.8 million after taxes, that's plenty for me, man! I don't need any more than that." People who are earning $100,000, $50,000 think that. I have always found it fascinating throughout my life... I love learning how people think. I've been fascinated when conversations have come up asking people what they think is rich, what they think is wealthy.
Now, I'm not drawing a distinction between the two. It's just what they think is big money, and it's never the same from person to person. It's always different. But the one thing that I've often found that's in common is that people who imagine or dream of, say, making $20 million a year, the idea that at the end of the tax year they still have $9.5 million, that's plenty. "I wouldn't care. That would be plenty."
But then you bring it down to their level. "Okay, you make $100,000 a year, and you end up with $48,000. How do you feel about that?"
"Well, that's not the same. That $48,000 is a lot different than $9 million."
"I know it is, but what about the principle? You have earned it. You went out and you played well enough, you secured a deal, and you have established your worth. Your worth is what somebody will pay you. That's how your worth is determined. Sad to say, but that's what it is." It's not your self-worth, not your worth as a human being to society, none of that. But in terms of what you earn, you're worth what somebody will pay you. That's why all this talk about baseball players, athletes being overpaid?
No, they're not. Somebody's willing to pay 'em that. They're worth it to somebody. It's none of our business, none of my business. They're worth it to somebody. Well in this case, Flacco's worth $120 million. He'll never get paid that, by the way. This deal's never gonna last that long because of the salary cap and things. But he is gonna have three or four years here where he's gonna earn 20 mill a year the way it all averages out, and he's gonna end up keeping $8.5 or $9 million of it every year.
"Well, it's plenty, Rush! I don't need any more than that."
"Well, you're not bothered that if you're in that situation, taxing authorities are taking nearly $11 million from you?"
"No, 'cause $9 million left over's fine."
This is how easy it is to sell tax increases on the rich, because most people see what they end up with after the taxes. They don't calculate what's being taken away, and they certainly don't calculate what's being taken away versus the gross. They just see the net somebody's left with and they think, "Man, I could go for that." Somebody making $100,000 a year, $50,000, thinks with $9 million, they'd be Fat City and they wouldn't care about anything else. Understandably so.
Until the day comes that they earn it, and then it all changes. Then they get just as outraged as people who are earning it are. So you have Obama and the boys, every liberal running around saying, "You've got enough! " Why doesn't anybody ever say that to Bill Gates? Why doesn't anybody ever say that to Warren Buffett? Why doesn't anybody ever say that to Richard Branson? "You've got enough. That $60 billion, $40 billion, who needs that kind of money?"
But it's never a question of "need." It's what you end up being worth to somebody. Now, in the case of Gates and Buffett, nobody's paying them that. That's the result of risk-taking via investment, or business investment growth, taking a risk on some kind of business proposition. Nobody gets paid $60 billion. But I don't know. I just find it fascinating. Flacco, if you could ask him, "You know, Joe, if you played somewhere else you'd be keeping $10.5 million instead of $9-point-whatever it is," I don't know if he would care.
But it fascinates me.
Obama Ends Violence Against Women
RUSH: Well, guess what? The president of the United States has just signed another law. And this law is the Violence Against Women Act. No, no. It means you can't. It doesn't permit it. It's against violence. You can't be violent. I guess you could up until the law was passed. I guess it used to be okay to be violent against women, but now we fixed it, because now we have a law, 'cause Obama just signed it, the Violence Against Women Act. I don't have the act right in front of me, but I can guarantee you, it's about much more than violence against women.
Well, you see, it's classic. It's classic. Somebody proposes this thing under the guise that women are being beat to a pulp in this country, because of the Republican War on Women. Women are being beat up. They're being creamed. I mean, they're just being mistreated all over the place on it. We need a federal law saying you can't do it anymore. So now the Democrats get all of this credit for being compassionate and tolerant and understood, protective of women. The whole idea is to create the notion that there's some people out there that are violent toward women. They're obviously a bunch of Neanderthal Republicans. We're gonna now be able to punish 'em. And Obama right there says this law will help bring more offenders to justice. So I guess there were outs. You could go out and be violent toward women. I guess there were ways you could get away with it that now you can't 'cause we've really gotten serious about it now.