{"id":5344,"date":"2015-09-17T18:40:59","date_gmt":"2015-09-17T18:40:59","guid":{"rendered":""},"modified":"2015-09-17T18:40:59","modified_gmt":"2015-09-17T18:40:59","slug":"attempting_to_communicate_with_a_sanders_supporter_on_tax_rates","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2015\/09\/17\/attempting_to_communicate_with_a_sanders_supporter_on_tax_rates\/","title":{"rendered":"Attempting to Communicate with a Sanders Supporter on Tax Rates"},"content":{"rendered":"

\"Listen<\/a><\/p>\n

RUSH: Here is John in Shelbyville, Kentucky, as we head back to the phones. I\u2019m glad you called, sir. Nice to have you with us. Hello.<\/p>\n

CALLER: Thanks, Rush. Thanks for taking my call. So I guess full disclosure, I\u2019m probably a bit to the left of most of your listeners. I\u2019m a Bernie Sanders supporter, and I don\u2019t normally think very much of Donald Trump. I\u2019ve actually for a long time thought that Ben Carson seemed like sort of an adult one of the few, but I was amazed last night because there was a point between the exchange between Donald Trump and Ben Carson where I think Donald Trump actually made himself look pretty reasonable and made Ben Carson look a little bit insane.<\/p>\n

I\u2019m talking about when they were talking about the graduated taxes. Ben Carson came out and said that something like a progressive tax system is an element of socialism, which is obviously insane, and Donald Trump called him out on it. I guess I\u2019m just wanting to get your commentary and what you have to say about Donald Trump sort of splitting from the Republican line like that.<\/p>\n

RUSH: Okay, I had real trouble — you\u2019re on a cell phone and I\u2019m having to follow you here on transcription. So you want to get my commentary on what I have said about Trump splitting from the Republican line? Okay, that\u2019s what I didn\u2019t get. What did Trump split from the line on?<\/p>\n

CALLER: Most Republicans I\u2019ve heard say that something like a progressive tax systems which aims to redistribute wealth is something to do with socialism, which obviously it isn\u2019t, but that\u2019s what a lot of Republicans say. And it was interesting to hear Donald Trump come out and say it\u2019s actually not true. Which it\u2019s not true. I guess really I\u2019m just asking what you think about Donald Trump splitting from the unified line that Republicans give that progressive tax code is socialist? <\/p>\n

RUSH: Well, I\u2019m kind of hedging or hesitating here because I don\u2019t remember what Trump said other than he\u2019s gonna go after the hedge fund guys.<\/p>\n

CALLER: Right.<\/p>\n

RUSH: I\u2019m gonna be honest with you, I gave up on this debate at 10 and 20 minute splotches about two hours and 10, 15 minutes into it. I got up and started doing other things. Yesterday was iOS 9 day, guys, and frankly I wanted to play with some things on my iPhone and I figured two hours and 10 minutes was plenty of devotion. So I got up. I must have missed this. I must have missed this exchange between Carson and Trump on taxes. I\u2019m not trying to evade you. <\/p>\n

CALLER: No, no.<\/p>\n

RUSH: Did Trump say that he is in favor of a graduated income tax and the rich should pay more? <\/p>\n

CALLER: Exactly. You summarized it perfectly.<\/p>\n

RUSH: That\u2019s what he said. Did he say the rich aren\u2019t paying enough now?<\/p>\n

CALLER: Well, he always said a graduated tax system is what we\u2019ve had for a long time. It\u2019s been over a hundred years, and it was Abraham Lincoln who imposed the first progressive taxes and his point was that we\u2019ve had it for a long time. We haven\u2019t been a socialist country <\/line>for a hundred years. So it stands to reason that this is not actually a socialist thing as Ben Carson was suggesting. And as I\u2019ve heard many Republicans suggest.<\/line><\/p>\n

RUSH: Okay. I\u2019m still having trouble. I can\u2019t understand what he\u2019s saying. This is embarrassing for me. I\u2019m trying to associate what you\u2019re saying with the fact that you said you support Bernie Sanders. I heard that. So I\u2019m wondering if you\u2019re contentious. I really can\u2019t understand a word you\u2019re saying. This is a great illustration, you\u2019re on a bad cell connection and I\u2019m having to follow this on a transcription of what you\u2019re saying, plus I\u2019m hampered by not knowing what happened here.<\/p>\n

CALLER: Right. I understand.<\/p>\n

RUSH: So I\u2019m trying to put all this together and I\u2019m asking myself are you doing a gotcha on me or are you actually asking an open-ended question about —<\/p>\n

CALLER: I certainly wasn\u2019t trying to do any sort of gotcha. It wasn\u2019t something that I haven\u2019t heard the Republicans say, and I know that you\u2019ve been I guess more fair with Donald Trump than most commentators have been, and I thought that it would be interesting to hear what you had to say about this sort of interesting line that Donald Trump said.<\/p>\n

RUSH: Well, then let me just assume that what — maybe some people are gonna confirm. Did Trump — I\u2019ve heard him say he wants to raise taxes on the hedge fund guys, get rid of carried interest because they\u2019re getting away with murder. Beyond that, what did Ben Carson say? Would somebody tell me what Ben Carson said, just what did he say. Not you, John, not you. What did Ben… (interruption) Okay. FairTax, single rate or two rate tax at 50, so Carson… (interruption) Okay, so the progressive — (interruption) Oh, okay, so we got a Bernie Sanders guy here ticked off that Carson called a progressive tax system socialist.<\/line><\/p>\n

So the Bernie Sanders guy\u2019s ticked off about that or — not ticked off, but that got his. So here comes Trump basically agreeing with him and Sanders. Is that right? (interruption) Trump says it\u2019s not socialist, and John here likes that. Okay, \u2019cause you started out by saying you thought Trump sounded more reasonable than Carson did, \u2019cause Trump agrees with you. You want the rich soaked and you think you heard Trump say that he wants the rich soaked, and that\u2019s the way America\u2019s always done it, so now you want my reaction to that. Is that it?<\/p>\n

CALLER: Not exactly. <\/p>\n

RUSH: Are you telling me we\u2019re still not there yet? (laughing) I\u2019m being so patient here trying to get this done.<\/p>\n

CALLER: Okay, so what was your question?<\/p>\n

RUSH: I just want to know do I understand what you\u2019re asking me now?<\/p>\n

CALLER: I think so.<\/p>\n

RUSH: Okay.<\/p>\n

CALLER: Yeah, I don\u2019t think you\u2019ve misrepresented anything I said.<\/p>\n

RUSH: Okay, if Trump is opposed to the FairTax or if Trump is okay with the current graduated tax and doesn\u2019t want to do anything about it — I thought I heard him say last night that we\u2019re overtaxed. I thought I heard him say last night that he wants a middle-class tax cut, but he doesn\u2019t want to do anything about the top marginal rates apparently? Wants to hit the hedge fund guys. I\u2019m still hampered here by not knowing precisely what Trump said. <\/p>\n

Here it is. “We\u2019ve had a graduated tax system for many years. It\u2019s not a socialistic thing.<\/p>\n

What I\u2019d like to do, and I\u2019ll be putting in the plan in about two weeks, and I think people are going to like it, it\u2019s a major reduction in taxes. It\u2019s a major reduction for the middle class. The hedge fund guys won\u2019t like me as much as they like me right now.” And he didn\u2019t condemn the graduated tax system. Look, now I\u2019m down to five seconds. John, do not turn the radio off. I\u2019m gonna answer this after the break. I\u2019m sorry it took me this long to get to where you started. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Okay. I have now availed myself of the transcript of the portion of the debate I was asked about. And the nub of it is Ben Carson claims that the graduated tax system is socialist. I\u2019ll tell you where that comes from, a lot of people do. You can find references to it in the famous Communist Manifesto. The Communist Manifesto has 10 things that if you accomplish all of them, you have succeeded in converting your society to socialism on the way to communism. Graduated income tax is one of them. Public education\u2019s another. Probably many of you are very well aware of this. <\/p>\n

Where were these guys last night? These guys were in the Reagan library. What did Ronald Reagan do? When Ronald Reagan took office in 1981 the top marginal tax rate was 90%. And the amount of money raised by the tax code was about $500 billion back then. When Reagan left office in 1989, there were three tax rates, essentially two, but there was a 31% bubble in there. But the top 90%, that marginal rate of 90% had been dropped to 28%. And the amount of money generated by the tax code had doubled, almost a billion dollars, by reducing tax rates. <\/p>\n

So the history of conservatism and the Republican Party where taxes is concerned is to reduce rates, reduce marginal rates, have as few brackets as possible, and of course the FairTax or flat tax, variation of the two, is now popular. It doesn\u2019t serve any purpose whether graduated tax is socialistic or not. Ben Carson said it is; Trump disagreed. On this I\u2019d have to say that it doesn\u2019t — he talked about raising taxes on the hedge fund guys which is carried interest, and he says he knows a lot of people making $200 million who are not paying much tax and that isn\u2019t fair. <\/line><\/p>\n

And that is indeed the kind of talk you do hear from people in the Democrat Party and on the left. It usually is uttered by people who are trying to build a bridge of commonality. “Hey, man, I understand your plight. You know, I\u2019m a rich guy, but, you know, I don\u2019t think we rich people should be getting away scot-free. We should be paying more taxes,” and so forth. I don\u2019t know if Trump was doing that or if he really believes that we need more rates and higher rates. But if he does believe that, then I would disagree with that profoundly. No way on earth do we need to enhance the graduated income tax system and start raising rates on people. It does not create more revenue, it doesn\u2019t punish anybody, especially now since all the deductions are gone. <\/p>\n

Nobody ever paid that 90% rate. A marginal rate is what you pay on the last dollar you earn, the way the rates are structured. You don\u2019t pay 90% on everything. Back in the day where the 90% rate was the top rate, let\u2019s say there were eight brackets, say there was 10%, 15, 20, 30, 40, 50, go all the way up to 90, but you had to earn back when that rate was in effect, I don\u2019t know, I\u2019m guessing $300,000 before the 90% rate kicked in. It was only on the amount of money you earned above the previous bracket. It wasn\u2019t 90% of everything. <\/p>\n

But there were all kinds of shelters and deductions back then, and that\u2019s what Reagan simplified, got rid of all that with just two rates, 15 and 28%. And revenue doubled. Now, there was a bubble for some people of 31%, depending on where their income fell, but it was basically at 15 and 28%. And then everybody predicted once Reagan left, that was the Tax Reform Act of 1986, when Reagan left, here came the increases again, minus the deductions. And now we\u2019re up to 39.6, the top marginal rate was 35, and it doesn\u2019t need to go any higher. <\/p>\n

Carried interest, hedge fund guys, Trump has a point there, those people are paying 15%. It\u2019s just a name. Carried interest is just a title so that they\u2019re not charged with earned income. Carried interest, it\u2019s meant to confuse people. It\u2019s the industry taking care of itself. It\u2019s like doctors speaking doctorese, lawyers speaking lawyerese. This is finance guys speaking financese. <\/p>\n

What\u2019s carried interest? “Well, carried interest is where you make interest here but you don\u2019t take the charge, you carry it over to the next one. You keep carrying it, keep deferring the taxes, you carry the interest, and finally you don\u2019t pay taxes until you\u2019ve gotten rid of the interest you\u2019ve carried, the income, so that you\u2019re really reducing what\u2019s taxable.” It\u2019s a convoluted thing. It\u2019s simply a way to pay taxes at 15%. And that\u2019s what Trump is talking about, and my guess is —<\/p>\n

Hedge fund guys, some people think all they do is sit on their butts and siphon off money that they get other people to give \u2019em in the form of investments or whatever. It takes all kinds of people with all kinds of opinions about people. I have no thoughts on hedge fund guys. I don\u2019t deal with them so — and not every one of them is a billionaire, another popular misconception. But it has long been a focus of many people, particularly — except you don\u2019t hear many Democrats talking about carried interest, do you? You don\u2019t hear many Democrats trying to get the carried interest eliminated.<\/line><\/p>\n

Obama surely didn\u2019t. He might have given it lip service now and then, but never made a move on it. Those are his voters. Those are his donors. Who do you think the donor class is? Carried interest guys. Not just carried interest guys, but a lot of them are in the donor class, and Trump has signaled that he\u2019s going after those people. He\u2019s not gonna be beholden to them. He doesn\u2019t want their money, and he\u2019s tired of them running the show in Washington.<\/p>\n

So I think in that sense it makes sense that he\u2019s going after carried interest. If he wants to raise everybody\u2019s marginal rates outside the middle class, no, no, no, no, I mean, it\u2019s not helpful to the economy, it\u2019s not helpful to anybody. You know, Ronald Reagan, he never said it, but the whole point was, why are we gonna punish achievement? Which is what the Democrat Party does. Why are we gonna stigmatize achievement, run around and tell the successful they\u2019re not paying their fair share? <\/p>\n

The successful… You know what we\u2019re up to now? What is it, the top 10% are paying almost 50% of all taxes, or maybe it\u2019s top 1% are paying 40%, something like that. And then maybe it\u2019s the top 10% paying 60% or 70%. All I know, is the bottom 50% are paying zero. So, John, I hope that answers the question. I\u2019m sorry it took 25 minutes here, folks, but that\u2019s my hearing and not him. That was a great example. That\u2019s the kind of… That\u2019s why I do not do TV \u2019cause that\u2019s what people sound like on an IFB. That\u2019s why I don\u2019t use the phone, because that\u2019s what cell phone calls sound like to me. And I caught maybe one out of every eight words he uttered. It just sounded like the wind was blowing through everything he said. I think it was on mic, then off mic. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Here is John in Shelbyville, Kentucky, as we head back to the phones. I\u2019m glad you called, sir. Nice to have you with us. Hello. CALLER: Thanks, Rush. Thanks for taking my call. So I guess full disclosure, I\u2019m probably a bit to the left of most of your listeners. I\u2019m a Bernie Sanders […]<\/p>\n","protected":false},"author":14,"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},"categories":[],"tags":[],"yoast_head":"\nAttempting to Communicate with a Sanders Supporter on Tax Rates - 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\/2015\/09\/17\/attempting_to_communicate_with_a_sanders_supporter_on_tax_rates\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Attempting to Communicate with a Sanders Supporter on Tax Rates - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Here is John in Shelbyville, Kentucky, as we head back to the phones. 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