BRETT: So it’s been almost a week since the big announcement, the big announcement from President Biden announcing you can have Fourth of July if you behave yourselves and wear a mask and do all that kind of stuff. But it was also the big announcement of, “Okay, help is on the way! No, help is now here. The stimulus is now out there! The help is here!” President Biden makes his way over to Pennsylvania and does a three-minute stop — a 180-second stop — and almost no talk of the stimulus bill.
He just kind of showed up and said, “The help is here. I’m here. The help is here.” Well, you know what’s coming next, right? The class warfare is gonna be running thick and fast. The old trope that the Democrats are the party of the little guy and that the Republicans are the party of the rich? We know that hasn’t been true in decades, not in decades. Rush had some pretty great analysis and thoughts on this notion of the Dems are the party of the little guy? No, the Dems are the party of the rich. Cut 4?
RUSH: This is Jim Cramer from yesterday. It’s his take on the stock market yesterday. I had somebody sent me a note saying that they were really stunned that the stock market went up after the Democrat win in Georgia Tuesday, and the reason that they were surprised is that most people figured that that would cause some selling off, since Democrats usually mean higher taxes and higher regulations.
I have tried to explain to people that that old relationship that Democrats are for the little guy and the Republicans are for the rich, that’s out the window. That’s gone. That’s not applicable anymore. It’s the Democrats that are the party of the rich, and they’ve been the party of the rich for I don’t know how long now, but it’s not a short period of time. They’ve been the party of the rich for a long time.
The Republicans don’t know what’s happened to ’em. Somebody thinking that the market would go down with Democrats winning the Senate? That… Who runs the market? Democrats! The stock market has been the lone respite for wealth in America — not the little guy, not Main Street — and who’s in the stock market? The Democrat Party.
This whole idea that the Democrats are the enemies of the rich? That hasn’t been the case for 20 years. So here’s Jim Cramer’s take: “The market sees that higher taxes will now go on corporations, meaning middle income are gonna get that tax passed on down to them.” In other words, the Trump tax cuts are gonna be repealed as quickly as possible.
Corporations don’t pay taxes. They pass them on. They pass them down. It means middle-income people. Customers are going to pay higher taxes in the form of more expensive consumer costs. “Higher-income people will be getting a big tax break in the repeal of the limit on deductions of state and local taxes.”
Remember when Trump came along, limited the deductibility of state income taxes in certain wealthy blue states. Remember how that ticked ’em off? Oh, they were fit to be tied. You don’t raise their taxes. You raise taxes on the little guy. So those blue states are gonna see an immediate repeal of the SALT tax, meaning they’re gonna get richer. Who’s gonna make them richer?
The Democrat Party.
“Higher income people are gonna likewise keep their inheritance tax break due to fancy lawyering in the Senate committees.” You may not know it, but favorable inheritance tax breaks have been part of recent tax policy. They’re not gonna change. Who benefits? The wealthy and the rich — and who’s gonna make them richer? The Democrats.
“Middle-income people, on the other hand, are gonna get hit hard by the soon-to-come non-step-up in inherited assets.” So if you’re middle income — and that’s we’ll say up to, say, a hundred, 120 grand max, you’re gonna get hit very hard. They’re going to inflate inherited assets, and they’re gonna eliminate that which is making inherited assets advantageous.
So the middle class is gonna get poorer, and who is making them poorer? The Democrats are. And then Cramer says, “The list could go on, but the rich,” who are now the biggest contributors and the best supporters of Democrats, why, they’re gonna be protected. “The rest of us get higher taxes, higher costs of living.” Who is going to bring higher taxes and higher costs of living to the little guy? The Democrats. How many people do you think voted for the Democrats back in November thinking they are voting against the rich?
Yeah, a lot of them did. A lot of them think by voting for Biden, that they were voting to get even with these ugly rich people. Just the exact opposite is going to happen. Now, the poor — the downtrodden, the homeless, the hungry, the thirsty, illegal immigrants — are gonna get additional government benefits. They’re gonna get some stimulus checks. They’re gonna be kept happy on the government plantation for voting Democrat in 2020, and to make sure they vote in 2022 for Democrats.
That’s how it’s done. You always play forward. You always protect your supporters (i.e., the rich); you punish your opponents (i.e., the middle class), as it has evolved. And you get more and more people, you need a permanent underclass. Remember, the Democrats need a permanent underclass of people that are totally dependent on government, on them.
So, summation. Jim Cramer: “If you have a job, if you are a small business, if you have some few built-up retirement assets, the Democrats are gonna hit you.” Democrats are gonna come for you. They’re going to take some more of what have you, while telling you they’re taking it from the rich — and you’re gonna applaud it. “Yeah! It’s about time the rich started paying their fair share.” How often do you still hear that? You still hear this.
The rich haven’t been paying their, quote, unquote, “fair share” in who knows how long, but the whole notion of a fair share is bogus anyway if you ask me, and if you care I’ll explain why later on in the program. But that doesn’t matter. They’ve got it slogan that works for ’em. Why should they give it up? “The rich aren’t paying their fair share, and the Democrats are gonna keep whittling away at it!”
So bottom line is the stock market is now in the total control of the rich, elite socialists. It is the reservoir of their wealth. Now, there are some Republicans in there whose wealth is in the stock market. They’re gonna be very quiet. They’re not gonna want to call attention to themselves. They’re not gonna want the rich elite socialists who run the stock market to kick ’em out of it.
BRETT: As true today as it was when he broke this down — absolutely, 100% — and you know what’s amazing is you have the progressives in the House and the Senate threatening to blow up the filibuster, get rid of the filibuster, and you’ve got this open conversation of, “Well, we’ve sent out these $1400 stimulus checks. That’s just the beginning of what we’re gonna be sending out there.
“Uh, we could — we could treat this as a universal basic income,” and so as long as you just keep sending more and more dollars out to that permanent underclass, that permanent underclass will be happy to continue to pull the lever for the Democrat Party. It’s really an amazing thing to kind of look at in the way Rush takes that apart and tells you that, “Look, they’re not the party of the little guy.”
They’re not the party of strivers and the working folk. This is a party committed to and devoted to the aggregation and protection of their own power and extension of that power into literally every facet of our lives.