RUSH: Folks, the Clintons won't give it up. Hillary just won't give up this idea that her family is poor and average and middle class. It was the funniest thing, and I have noticed -- I am probably the most observant person that you have heard of, or, in case you know me, that you know. My observational skills combined with my memory always surprise people. I noticed early on, after Bill and Hillary left the White House, how soon and how often they began discussing their new wealth.
We made note of it. Mike, you don't have to find it immediately, but we play it frequently during the commercial breaks. Go find the Clinton game show parody called I'm Richer Than You Are. We put one of these together. This is years ago. This goes back probably to 2000, 2001. Bill Clinton always used the subject of tax increases to do it. Whenever tax increases came up, Bill Clinton would always say (imitation Clinton), "Hey, you know what? I'm honored that I have enough wealth now to be able to pay. I don't need all this money. I'm happy to pay these." They've been bragging about their wealth for as long as they've had some.
My parents always told me that it was bad manners, it was bad form, not to just brag about it, but to even discuss it. Answering "how much do you earn in a year" was considered bad form. You're not supposed to discuss that, because it's different for everybody and it's a no win, unless you don't care about being perceived as braggadocios or somebody that's ill-mannered or whatever. And that's what struck me about the Clintons. They're just constantly talking about.
Mrs. Clinton, as you know, two weeks ago in an interview with Diane Sawyer, said (imitating Hillary) "Oh, yeah, when we came out of the White House, we were dead broke." And I'll tell you the root of all of this is the Clintons attempting to establish a bond between middle-class people and even poor people. They're trying to build this bond, while Bill's out bragging about how much money they have and bragging about tax increases don't bother him, even though we have now learned that the Clintons have structured their family planning like most everybody else does, to avoid as much estate tax as they can.
Now, you might say, "Well, why, Rush, what's the big deal? Everybody does it." They are the people that are constantly bragging about not caring about paying taxes, publicly, folks. That's how Clinton first wormed his way into this opportunity to brag about how much money they've got all the time. And then Hillary didn't take long to join that chorus, either. It's something they're been obsessed. It's what Whitewater was all about was becoming rich quick because all of their friends, highfalutin donors, they were just swimming in money and the Clintons were getting by -- "getting by" -- on a hundred grand a year, and they wanted to swim in the deep water.
This is when Hillary was turning $10,000 into a hundred grand with Robert "Red" Bone and cattle futures. Whitewater was a get rich quick real estate scam with that bald-headed guy -- (interruption) yeah, Jim and Susan McDougal. Exactly right. That's all Whitewater was. They've been obsessed.
Now, Mrs. Clinton has stepped in it again. Ed Klein has a book out. Excerpts started yesterday in the New York Post, and the excerpt about the feud that the Clintons have with the Obamas, the quotes that are attributable to Bill Clinton and Barack Obama -- nothing against Ed Klein, I don't know anybody who talks that way. But I'll explain what I mean when I get to that part of the discussion. It's a big Stack. The Clinton Stack is its own Stack today, and the first item on top of the Stack is from the Weekly Standard. "In what some are interpreting as a veiled shot at Hillary Clinton, Vice President Joe Biden says that the fact he isn't rich shouldn't be held against him."
These people, folks, are obsessed with it. The Democrats, particularly elected Democrats and their donors, are some of the wealthiest people -- Silicon Valley, Hollywood, Wall Street -- and yet they are obsessed with this phony baloney, plastic banana, good-time rock 'n' roller buzz, PR, spin, whatever, that they're just average people just like you.
So Hillary says, "Ah, we were dead broke when we came out of the White House," and then she stepped in it again. This is an interview that was published in the UK Guardian yesterday. "Hillary Clinton revisited the issue of her slightly higher than average income by saying she's 'not truly well off.' Hillary Clinton says, 'We are not truly well off,'" and do you know how she defines that?
She said, "We pay ordinary income tax. Really rich people don't do that." Now, everybody's laughing on the other side of the glass here. But I'm gonna tell you what this means. Hillary really thinks that, folks. The truly wealthy... How many times have we discussed on this program: When the subject of tax increases for the rich comes up, the rich never seem to oppose it.
Why? Why is that?
The answer is that the vast majority of the people we're talking about who don't oppose it are not paying income tax rates. Their wealth has already been amassed. They are no longer earning what's called "ordinary income," where there are deductions every week or quarterly estimates or what have you. They are paying taxes on whatever income they derive from their investment portfolio, which would be at the capital gains rate.
That's what she means.
Now in her world, she is right, when you're talking about real wealth. (sigh) I wish I could mention a name here but this would not be classy, either. It's a name you would all know. Treasury. Not Treasury. A cabinet member in a former administration, who I befriended at one point in my life. We had many discussions, almost father-son type discussions.
I asked him one day, 'cause he was one of these uber-wealthy people, "In your world..." We could talk this way. "In your world, what is the amount of money that gives you clout and makes you a player?" He said, "Minimum, $400 million," and this was 25 years ago. Minimum $400 million, or you're not a player. Meaning, the people at $400 million or above look at you if you're at $350 million or $200 million as, "Eh."
I'm telling you, that's the world the Clintons run in, and when she says, "We pay ordinary income tax," what she's saying is they have become wealthy because they earn a lot of money. They pay ordinary income taxes because they generate ordinary income, which is book sales and speeches and stuff like that, and they pay income tax rates. In her world, no matter how much money you have, you are not wealthy.
What she doesn't know is that by discussing it this way, she really is telling people what she wants to be. She wants to be a Warren Buffett. She wants to be in this really rarefied air where tax rates are irrelevant to you, and that's a small percentage of even the top 1%. But this idea that she and Bill are not well off? Even though the top range of their net worth on her disclosure forms is, I think, between $5.5 million and $50 million?
Now, in her world... Don't doubt me on this, I know this is gonna sound strange. In her world... Now, I'm not justifying anything she's saying. I'm trying to explain it to you. In her world, $50 million is peanuts, and they pay ordinary income tax. "We're not well off." She has no idea. The point here is, she has no idea. Big Democrats, they care! They're for the little guy.
They're clueless! They have no idea. She wouldn't be talking this way if she had any idea what life was like for most people in this country, particularly now in the Obama-Democrat Party economy. You can't talk to any people that vote for her and get any sympathy for her when they know that she may be worth $50 million and says, "Well, we're not truly well off. We pay ordinary income taxes."
This is tone deafness on steroids. It is an inability to relate to people. It is zero empathy. It is just stunning -- and they wouldn't let it go! They are hell-bent on you and me thinking that they don't have any money. (interruption) Yeah. "They've only raised $100 million since they left office." I know, but they pay ordinary income tax. Half of it's gone, see? The real rich don't do that in her world.
This Biden business. "You know, I make a lot of money as vice president," Biden said. "Don't hold it against me that I don't own a single stock or bond. Don't hold it against me. I have a savings account, but I got a great pension, I got a good salary. For real, for real. But don't hold it against me. I'm not rich." These people are really showing us who they are.
They're really telling us who they are, what they're really about, and how out of touch with average people they really are and how phony baloney, plastic banana, good-time rock 'n' roller. Can you imagine Hillary with between $50 million and a $100 million trying to establish a bond of relatability by saying, "Well, we're not well off. We pay ordinary income taxes"?
(Bill Clinton impression) "Hey, yeah! 'I'm Richer Than You Are!'"
Wait 'til you hear that!
And then there's this: "Chelsea Clinton Tried to Care About Money But Couldn't." They've even dragged her into it now. They tried to make her care about money, but she doesn't. The point of this is she's totally into charity. They tried to tell Chelsea about money and earning a lot, but she just didn't care. Money, it's just not important to her what so ever, blah, blah, blah, blah. (interruption) Yeah, she's only $26,000 a minute or whatever she got at NBC. That's what she was making.
RUSH: That's right. So Hillary Clinton claimed, "They don't see me as part of the problem." She's talking about people that don't like the rich. "They don't see me as part of a problem because we pay ordinary income tax, unlike a lot of people who are truly well off -- not to name names -- and we have done it through dint of hard work," and people started laughing.
"We pay ordinary income tax. We can't possibly be rich," and among the people she's talking about, she's right. But that's not the way to accomplish what she's trying to accomplish. The Clintons, as soon as they left the White House, set up a family foundation apart from their charitable thing to avoid paying taxes on their income. They have done everything they can to avoid paying taxes.
Yet Bill Clinton can't stop bragging about how much money he's got. ("I'm Richer Than You Are!" parody) Ladies and gentlemen, that's over 10 years old. Here are the Clintons in the news, June 23, 2014, trying to say they don't earn a lot of money. Mrs. Clinton: "We're not well off," and it was over 10 years ago that I spotted and pointed out these people are obsessed with becoming rich and wealthy and then letting everybody know that they've pulled it off.
RUSH: Mount Laguna, California. Bob, welcome to the program. Hello.
CALLER: Hi. Thank you very much. I wanted to comment about Hillary's wealth and so forth. In 1992 or '93, perhaps, I made somewhat of a joke donation to the Clinton Legal Defense Fund. It was really interesting that in the early nineties, arguably the Clintons were the two most powerful lawyers in the United States. And, lo and behold, they had some mild legal problems, and their legal fund was basically a bailout, donations from the public.
RUSH: Wait a second. You made a donation in 1992 to the Clinton Legal Defense Fund?
CALLER: I did. I made $1 donation.
RUSH: That was during the campaign. They weren't even in office yet.
CALLER: Well, let's see. It was in the early nineties. I don't have the letter in front of me.
RUSH: I was gonna say, I'd forgotten if they were already in legal trouble before the White House. I knew that Bill had been sued by some of the "bimbos." But, look, your overall point about the legal defense funds is absolutely well taken. It's ironic, too, because one of the reasons Hillary claims that they're broke and not well off is all the legal bills, as though we're supposed to wring our hands and feel sorry for 'em.
Why do they have legal bills?
Do you think having sex, BJs, Lewinskys in the Oval Office might lead to it if you lie under oath? Do you think that that might require you to go out and hire some high-powered legal help that might charge you a lot of money? They had so many different legal defense funds you can't keep up with them. One of them raised over $10 million, and they were shameless about asking for money!
They were shameless about it, as though they were owed it, that somehow they were entitled. Bloomberg has a story. This is The Politico today but they quote Bloomberg. It is exactly as I said moments ago. "To reduce the tax pinch, the Clintons are using financial planning strategies befitting the top 1% of US households in wealth to avoid paying taxes." Now, people defending Clinton are saying, "Wait a minute!
"She didn't have offshore accounts like Romney did." See, in the Clintons world... I tried to make this point earlier. I'm not, by the way, justifying. Don't misunderstand. I think the woman is... I think these are two of the biggest phonies ever, is my point. They always have been. They're phonies through and through, and I don't think they're nice people. But when Mrs. Clinton says, "Hey, we're not well off!
"We pay ordinary income taxes," she's jealous. She's envious of people who have a lot of money -- and $50 million/$100 million, in their world, isn't a lot of money. Not among the people that they hold dear. They know multibillionaires. They fly around gratis on their friends' private Boeing 757s. The Clintons are so cheap, they won't spend their own money on anything, not even to charter a Piper Cub to get from Chappaqua to Washington.
"We pay ordinary income tax. We can't possibly be rich." They're out there doing everything they can to avoid taxes, while bragging about their wealth. Now, Hillary's complaining about how little they have, and they are doing everything they can to avoid taxes. They're trying to pretend they're rich, and they're trying to use the same strategies that the uber-rich do to avoid paying taxes, family planning taxes and estate taxes, primarily.
Now, everybody does it, but they are hypocrites, because they're the people out there bragging about having enough money to pay taxes and they don't care when taxes go up. Bill Clinton's famous for that! Privately. This is why they're phony baloney, plastic banana, good-time rock and rollers. Privately, they're try to get out of paying as much in taxes as they can.
RUSH: "Some Democrats Fear Clinton’s Wealth and 'Imperial Image' Could be Damaging in 2016." This story runs today, on the same day that Mrs. Clinton is out there saying, "We're not well off. No, no, no. We were dead broke." And the same day we got this story Chelsea Clinton tried to care about money but couldn't. This is the big puker of the day. I mean, Ed Klein has this book out on the blood feud between the Clintons and the Obamas based on the health chapter, the Hillary health chapter. This book should be called Blood Clot. I mean, the chapter on her health in this book is devastating. Is anybody's piping up and denying this yet? You know, Ed Klein, he wrote books on the Kennedys. He's not exactly a right-wing ideologue. So he's got that chapter.
He says the Obamas call Hillary Hildebeast. They got that from me. We called her the Hildebeast way back long ago. In fact, we called the Republicans wildebeests back short period of time ago in relation to budget matters. Hildebeast, wildebeest. Democrats fear her wealth could jeopardize Democrats' "historic edge with the middle class." And then on page three of this story an Obama advisor dumps on Hillary and says the Democrats should panic.
And it's interesting. In conjunction with the Klein book, the Ed Klein book really makes the point that the Clintons and Obamas detest each other. And particularly from the Obama to the Clintons. But it's both ways. Bill still hasn't gotten over being called a racist in the 2008 campaign when he said to Ted Kennedy, "You know, Ted, it wasn't that long ago this guy'd be fetching our drinks for us." So Obama then played the race card on Clinton in South Carolina. There was a couple of other things that Obama said. So Bill's been carrying a grudge for that for a long time, but they don't get along, is Klein's point.
And then here in this story, Obama advisor dumps on Hillary by saying Democrats should panic over the Clintons' air of wealth and this image that they have that they have willing put forward that they have a lot of money. And they have done that. I cannot emphasize this enough.
RUSH: How can the smartest woman in the world say such dumb things consistently? Hillary Clinton and this business of (imitating Hillary), "Oh, we're not rich. No, we're not well-off. No, no, no, we just pay ordinary income tax. We can't possibly be wealthy. We were dead broke." How can the smartest woman in the world screw up like that?
RUSH: Kathleen in Mentor, Ohio. I'm glad you waited. It's great to have you here. Hello.
CALLER: Thank you, Mr. Limbaugh.
RUSH: You bet.
CALLER: When you were talking about the Clintons and how they were on their uppers after the presidency, I remember their playing that debt card years ago. It was in '92 or '93, a friend of mine sent them money. I don't know how the touch got to her, whether it was a letter or in some liberal journal that she took. But she talked about those poor people and their great debt. I believe attorney fees were mentioned, because she always liked to kick an attorney.
RUSH: You're the second caller today who has referenced the first Clinton Legal Defense Fund in '92 or '93. You're right.
CALLER: I think Whitewater was involved there, too.
CALLER: If I remember correctly.
RUSH: That's right. They had a lot of unfair legal bills, defending themselves against outrageous partisan political charges there. Right.
CALLER: Right. And on the poverty issue, I see in the newspaper magazine from yesterday a big article about the Obamas, quote, "sharing their early money struggles," and how poor, poor, poor they were.
RUSH: Oh. Oh, the stories that they are telling about Michelle's just poverty-wracked beginnings are legion. It's all phony! Michelle Obama grew up upper-middle class in Chicago. Her father was a bigwig in the city Democrat Party machine there.