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RUSH: Newt Gingrich last night said, “I want to shrink government to fit income, not raise income to try to catch up with government.” Newt was on his game last night. Just in terms of substance, nobody outdoes Newt. But Newt has, as you all know, the baggage of global warming commercials with Pelosi and health care commercials with Hillary and the unpredictability that that brings. Wolf Blitzer kept talking about Obama\u2019s jobs plan, as you will hear in mere moments. It\u2019s a tax plan, Wolf — a big-spending, buck-passing, nonstimulating, tried-and-failed payoff to unions. What Obama has proposed is not a jobs plan. And, by the way, it is not designed to pass. It is not designed to pass.<\/p>\n
BREAK TRANSCRIPT<\/p>\n
RUSH: You might be interested in knowing, as of 12:35 this afternoon, 15 minutes ago, not one Democrat has stepped forward to file Obama\u2019s bill in the House of Representatives. The bill, the American Jobs Act, is still not a bill. It has not been filed. Not one Democrat stepped forward to file it. It has not been introduced. So I don\u2019t know what\u2019s up with that. Actually, I do know what\u2019s up with it. I\u2019ll tell you exactly what\u2019s up with it. There\u2019s no intention for this thing to pass. Obama knows no way it\u2019s gonna pass. He\u2019s gonna have trouble getting a number of Democrat votes on this with all these tax increases.<\/p>\n
This is to set up the fact, as we\u2019ve said repeatedly, that the Republicans are obstructive, that the Republicans want a political victory over Obama at the expense of the country. That they are doing anything they can to defeat Obama and they don\u2019t care what happens to the country. The truth of the matter is they\u2019re trying to save the country, as we all are.<\/p>\n
BREAK TRANSCRIPT<\/p>\n
RUSH: Obama\u2019s jobs bill, Barry\u2019s bill, he shows up at the Rose Garden yesterday (impression), “They say I don\u2019t have a bill? Well, here\u2019s my bill!” He\u2019s waving his little bill around, “Here\u2019s my little bill!” No Democrat has filed it. As of a half hour ago, no Democrat had officially filed the bill in the House of Representatives where it\u2019s gotta start. So the fierce urgency of waiting for three weeks after his vacation to announce this plan, there\u2019s no bill the night he gives the speech; then he comes up with a bill yesterday but no Democrats walked it through the process. (interruption) Well, Debbie “Blabbermouth” Schultz, as head of DNC, should have walked up and introduced it.<\/p>\n
This means, by the way, that it also can\u2019t be scored by the Congressional Budget Office. So as long as it hasn\u2019t been filed, then the Congressional Budget Office has nothing to look at and score it against all of its claims — and every dime of spending in this new Porkulus comes from tax increases. The media is full of stories about how Obama plans to “pay” for his latest round of stimulus spending, and some in the media seem to be a little bit surprised here that he\u2019s calling for an increase in taxes on the rich. “The rich” are now defined as anybody making more than $200,000 a year. Now, if you qualify (and if you\u2019re a small businessperson, you do), here are the tax increases, changes, what have you, that we know about.<\/p>\n
We know \u2019cause there\u2019s a PDF of a bill. In fact, I have a PDF copy of the thing there. It\u2019s 155 pages. There are 235 mentions of the word “tax” in the 155-page bill. At any rate, what Obama wants to do is limit mortgage deductions as well as the deductions for charitable contributions and state tax deductions. He\u2019s been trying to get these same exact tax increases passed for more than three years. He has included these tax increases in every one of his budgets. He even brought up these same tax increases during deficit-debt ceiling debates back in August. He trotted out these same tax increases back in 2009 as a way to pay for Obamacare.<\/p>\n
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Steve Moore at the Wall Street Journal says that Obama\u2019s tax increases, when you add \u2019em all up, amount to a $500 billion tax increase on small business. Now, Stephen Moore is right. I\u2019m gonna tell you: Whatever tax breaks he\u2019s talking about giving small-business people to hire workers is peanuts, and it always has been. I don\u2019t care if he raises the $2500 tax credit for every worker hired. That\u2019s nothing! Even if he raised that to $10,000, it\u2019s nothing. It costs so much more than that to hire somebody. In addition to cutting tax deductions — and the mortgage interest deduction is something he wants to get rid of (or really limit, let\u2019s put it that way) — he also wants to limit the deductions of state income taxes that you pay.<\/p>\n
He also plans to get rid of oil subsidies to the tune of about $40 billion. Now, never mind… They call these things “subsidies.” They\u2019re really not subsidies; they\u2019re just slightly lower tax rates that a lot of other manufacturers get. They\u2019re not really subsidies. We\u2019re not subsidizing the oil companies. So in Obama\u2019s world, the people supply the fuels — the people that supply the energy that power and fuel our economy — have to be punished. They just have to be. There\u2019s something cruel about these people. There is something inherently eeeevil about these people who supply the energy that fuels our economy. These people epitomize something terribly wrong about America, and they\u2019ve got to be punished. But, sure, go ahead! Go ahead and cut the mortgage deduction. Slap a higher tax on energy.<\/p>\n
That\u2019s gonna really stimulate the housing market. That\u2019s gonna really boost the economy…right off the cliff.<\/p>\n","protected":false},"excerpt":{"rendered":"
RUSH: Newt Gingrich last night said, “I want to shrink government to fit income, not raise income to try to catch up with government.” Newt was on his game last night. Just in terms of substance, nobody outdoes Newt. But Newt has, as you all know, the baggage of global warming commercials with Pelosi and […]<\/p>\n","protected":false},"author":23,"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":"\n