{"id":36875,"date":"2010-11-17T01:01:01","date_gmt":"2011-05-19T00:20:20","guid":{"rendered":""},"modified":"2011-05-19T00:20:20","modified_gmt":"2011-05-19T00:20:20","slug":"see_i_told_you_so_taxpayers_left_holding_the_bag_on_the_gm_bailout2","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2010\/11\/17\/see_i_told_you_so_taxpayers_left_holding_the_bag_on_the_gm_bailout2\/","title":{"rendered":"See, I Told You So: Taxpayers Left Holding the Bag on the GM Bailout"},"content":{"rendered":"<section>\n<p>RUSH: I\u2019m getting e-mail, text messages from people who should know better, who are acting all shocked and outraged over the General Motors IPO and how the taxpayers aren\u2019t gonna get paid back, they\u2019re never gonna see anything of what they lent General <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125109.Par.89380.ImageFile_57914496383a7.jpg\" width=\"300\" height=\"224\" class=\"alignright\"\/>Motors. I read this stuff and I\u2019m incredulous. Did they think otherwise? How many of you thought the taxpayers were gonna get paid back? And, by the way, what does that even mean? The taxpayers being paid back? You gonna get a check? Are we gonna get a check from General Motors paying back what we so-called lent them? I still have a lot of work to do. I know we have a lot of people on our side who are imbued with the personality characteristic of wanting to assign to people the best of intentions. But these are liberals, for crying out loud, it\u2019s essentially, you know, the Democrat Party is a criminal enterprise disguised as a political party. We know what the GM bailout, Chrysler bailout was. It\u2019s to give the unions ownership to protect their health care benefits. The true investors in Chrysler, for example, got hosed. And Obama told \u2019em they were being childish. <\/p>\n<p>Taxpayers being paid back, and certain people are not gonna be allowed to get into the IPO, and the IPO share price is false and inflated &#8212; of course it is! It\u2019s an insider\u2019s game. Sometimes I\u2019m shocked. Sometimes I actually think I\u2019m the only smart guy left. That is not the way to put it. I\u2019m the only guy not susceptible to the fact that they might be doing something right, they might be doing something for the good of the country, they might actually have best intentions. I do feel like a lone wolf, like it\u2019s a waste of time to even reply to this stuff. But I do because I, ladies and gentlemen, am a nice guy. All of this, this bipartisanship, this working together, it\u2019s all phony. The question should always be, &#8216;What do the American people want?\u2019 Obama didn\u2019t care what the American people want when it comes to health care or anything else, cap and trade, doesn\u2019t care about that. This party, this administration, regime, has been governing against the will of the people from the moment it was immaculated. Obama, Emanuel, they didn\u2019t care what the American people wanted. In fact, it\u2019s in spite of the American people this stuff gets done. I mean you, we, the people, we are obstacles just as much as the Democrats are. <\/p>\n<p>Staying on the financial side of things, from the Business Insider: &#8216;Analysis of weekly unemployment data and covered employees shows that 5,977,844 benefit paying jobs have been lost in the last year.\u2019 There\u2019s my favorite word &#8216;benefits\u2019 again. An analysis of weekly unemployment data show that six million benefits paying jobs have vanished in one year. Of course, they say it\u2019s a covered employee, &#8216;The exact meaning of &#8216;covered employee\u2019 varies slightly state to state, but not by much. In simple terms it means one is eligible for unemployment insurance benefits. Most states exclude the self-employed, commission based employment such as real estate agents, those in student training programs, academic and hospital internships, employment by churches or religious organizations, and rehabilitation programs. Self-employed individuals must pay into unemployment insurance programs, however, the self-employed are not eligible for benefits anywhere.\u2019 They have to pay in but they\u2019re not eligible because they\u2019re self-employed. &#8216;By the above interpretation, it is safe to conclude that 5,977,844 jobs totally vanished (not just benefit paying jobs). The only way that cannot be true is if there was a sudden shocking increase in the number of real estate agents, church hiring, or close to 6 million people all of a sudden decided to go into business for themselves,\u2019 which we know didn\u2019t happen. <\/p>\n<p>And this from CNNMoney.com: &#8216;Unemployed Americans have collected $319 billion in jobless benefits &#8211;&#8216; there\u2019s that word again &#8216;&#8211; over the past three years due to the federal government\u2019s unprecedented response to the Great Recession.\u2019 They actually write those words here in the CNN story, the Great Recession, with caps, capital G, capital R, Great Recession. &#8216;The cost of such benefits will be central to the heated debate in Congress in coming weeks over whether to extend this safety net for the fifth time this year. Lawmakers must act by Nov. 30 or two million people will start losing extended benefits next month.\u2019 There\u2019s that word benefits again, unemployment benefits. You gotta arrange your life to get your benefits. You gotta get benefits. <\/p>\n<p>&#8216;Businesses are usually hit with higher unemployment tax rates for several years after a recession in order to refill both state accounts and the federal trust fund, which provides loans to states and pays a portion of the extended benefits. Taxpayers have had to advance the federal trust fund $39 billion that will have to be repaid by employers in coming years. The rising unemployment taxes make some employers think twice about expanding their payrolls, Holmes said.\u2019 So it\u2019s almost a catch-22. Business taxes have to go up to pay for these benefits and when taxes go up they don\u2019t hire anybody. That\u2019s the cost of unemployment. As I say, a catch-22. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>RUSH: I\u2019m getting e-mail, text messages from people who should know better, who are acting all shocked and outraged over the General Motors IPO and how the taxpayers aren\u2019t gonna get paid back, they\u2019re never gonna see anything of what they lent General Motors. I read this stuff and I\u2019m incredulous. Did they think otherwise? [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0,"footnotes":""},"categories":[],"tags":[],"class_list":["post-36875","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>See, I Told You So: Taxpayers Left Holding the Bag on the GM Bailout - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/daily\/2010\/11\/17\/see_i_told_you_so_taxpayers_left_holding_the_bag_on_the_gm_bailout2\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"See, I Told You So: Taxpayers Left Holding the Bag on the GM Bailout - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: I\u2019m getting e-mail, text messages from people who should know better, who are acting all shocked and outraged over the General Motors IPO and how the taxpayers aren\u2019t gonna get paid back, they\u2019re never gonna see anything of what they lent General Motors. I read this stuff and I\u2019m incredulous. Did they think otherwise? 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