{"id":13322,"date":"2013-02-04T18:23:27","date_gmt":"2013-02-04T18:23:27","guid":{"rendered":""},"modified":"2013-02-04T18:23:27","modified_gmt":"2013-02-04T18:23:27","slug":"obama_wants_more_revenue","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2013\/02\/04\/obama_wants_more_revenue\/","title":{"rendered":"Obama Wants More Revenue"},"content":{"rendered":"

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

RUSH: All Obama knows is he wants to raise “revenue.” That\u2019s all he knows. We need more “revenue.”<\/p>\n

Let\u2019s go to the Obama soundbite. This is Scott Pelley\u2019s pregame interview before the Super Bowl. Question: “Are you saying that there\u2019s gonna have to additional revenue throughout the next four years?”<\/p>\n

OBAMA: There is no doubt we need additional revenue coupled with smart spending reductions in order to bring down our deficit. And we can do it in a gradual way so that it doesn\u2019t have a huge impact. And as I said, when you look at some of these deductions that certain folks are able to take advantage of, the average person can\u2019t take advantage of. The average person doesn\u2019t have access to Cayman Island accounts. The average person doesn\u2019t have access to carried interest income where they end up paying a —<\/p>\n

<\/p>\n

RUSH: Oh, there it is.<\/p>\n

OBAMA: — much lower rate on billions of dollars that they\u2019ve earned. And so we just want to make sure that the whole system is fair.<\/p>\n

RUSH: I do this. I\u2019ll admit this to you. I watched this interview yesterday and he mentioned carried interest, and I wondered how many of you remembered me talking about how carried interest is charged, what it is. It was in a discussion we had<\/a> on the program about asset wealth versus income wealth and how the asset wealthy, the really rich, are unaffected by any of Obama\u2019s tax increases. The Warren Buffetts, the Bill Gateses, the people who, when Obama says the rich aren\u2019t paying their fair share, the people they\u2019re thinking about, the really truly wealthy, are not subject to Obama\u2019s tax increases because they don\u2019t pay income taxes. Hedge funds are notorious. Hedge funds are allowed to calculate and categorize their income as carried interest, and carried interest has a 15, I think it now may be 20% tax rate on it as opposed to the 39.6 tax rate for high on income. <\/p>\n

I read a piece to you, an excerpt from a piece, Michael Arrington, who was one of the founders of TechCrunch, and he was gloating in part over how he\u2019s a carried interest guy, he\u2019s asset wealthy, and for all this talk about raising taxes, he wasn\u2019t gonna get hit. Now, his column makes the point that he doesn\u2019t think that\u2019s fair, doesn\u2019t think it\u2019s right, but that he\u2019ll take it, he\u2019ll take it. <\/p>\n