{"id":34607,"date":"2010-02-08T01:01:01","date_gmt":"2011-05-19T01:25:08","guid":{"rendered":""},"modified":"2011-05-19T01:25:08","modified_gmt":"2011-05-19T01:25:08","slug":"caller_asks_should_i_take_a_grant","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/","title":{"rendered":"Caller Asks: Should I Take a Grant?"},"content":{"rendered":"
\n

RUSH: Bill in Marietta, Ohio, nice to have you on the EIB Network. Hello.<\/p>\n

CALLER: Yes, sir. Rush, super mega dittos from the first government in the Northwest Territory.<\/p>\n

RUSH: Thank you, sir, very much.<\/p>\n

CALLER: Yes, sir. My question for the day is, a friend and I, staunch conservatives, both of us — I actually watched your program when I was in high school, and I was into it before I was a conservative. You were there and that\u2019s what awakened me when I was a youth, let\u2019s say.<\/p>\n

RUSH: Thank you, sir.<\/p>\n

CALLER: Yes, sir. My question for you today is, a friend of mine, both of us are staunch conservatives, I\u2019m wanting to start a business aside from the one that I work in, and he says apply for a federal grant. He said it\u2019s free money from the government, he says the man that\u2019s in the White House, he says, let him give you the money. And I say, no, because I don\u2019t want the government\u2019s handout.<\/p>\n

RUSH: Let me tell you another reason why not to do it. And I\u2019ll back this up, I\u2019ve got a story in my Stack of Stuff here.<\/p>\n

CALLER: Yes.<\/p>\n

RUSH: Companies that get into business with the government, like this story\u2019s about an organic milk farmer, and all of the people that distribute his milk have gone out of business. So he\u2019s got nothing to do with his organic milk. So he\u2019s gotten some help from the government. He\u2019s a L3C, Limited Liability Corporation, and now because he\u2019s taken money from the government he is now what\u2019s called a low-profit company. The government is willing to keep him in business if he will promise to keep his profits low. You don\u2019t want any part, Bill, of this administration and any government grant of any kind. You don\u2019t need it, you don\u2019t want it, you don\u2019t want them telling you eventually how you\u2019re gonna run your business and what you can and can\u2019t do with it. Don\u2019t worry about it, don\u2019t go anywhere near it. If it\u2019s a real dream you\u2019ve got and you don\u2019t have the financing yet, hold off. Be patient. We\u2019re going to rebound, and you\u2019re going to be able to get financing through regular channels at some point. But don\u2019t, don\u2019t take a grant.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Now, I want to go back to the guy who asked me about whether or not starting a business he should take a government grant. His partner thinks the government\u2019s handing out free money. No, that\u2019s never true. There\u2019s always a price to pay for it. Here is a story from CNNmoney.com, and the headline is: ‘For L3C Companies, Profit Isn\u2019t the Point — When organic dairy farmer Vaughn Chase received a letter informing him that processor H.P. Hood would no longer be taking his milk, he feared he\u2019d be forced out of business. Three years earlier, he had invested $25,000 in converting his 600-acre family farm to meet the US Department of Agriculture\u2019s organic certification standards. But now he couldn\u2019t find another organic processor willing to take the milk from his remote farm in Maine. With the price of non-organic milk plummeting below production costs, returning to conventional farming wasn\u2019t an option either. ‘That was suicide,\u2019 says Vaughn, 54, who owns about 60 milking cows. ‘I couldn\u2019t put my family through that. I might as well quit.\u2019<\/p>\n

‘Vaughn\u2019s was one of 10 small farms in Maine let go by H.P. Hood last year; luckily, none had to quit. With the support of local government agencies and a business consultant, Vaughn and the other farmers created a company to process and distribute their milk locally under their own brand, Maine\u2019s Own Organic Milk Company — MOOMilk. But the most unusual aspect of the venture is its legal status. MOOMilk is a ‘low-profit\u2019 limited liability corporation, or L3C. It\u2019s a controversial new type of business entity intended to make it easier for companies with a social mission to receive investments, including loans and grants, from charitable foundations,\u2019 and government. Are you with me so far on this? ‘Since April 2008, five states and two Indian tribes have signed legislation enabling companies to incorporate as an L3C, which is generally defined as a taxable for-profit business whose primary goal is to achieve a stated social mission. Profit is a secondary goal.\u2019 <\/p>\n

So this is social engineering in the private sector. We\u2019re going to now reward businesses that do not make a profit if someone approves of their social mission. Meanwhile, 90% of independents and Republicans and 80% of people in general disapprove of the liberal Democrat Congress. And the liberal Democrat Congress is no different than the wackos who come up with an idea like this. This is designed to pervert capitalism. It is to corrupt the private sector and to change the mission. ‘An L3C, which is generally defined as a taxable for-profit business whose primary goal is to achieve a stated social mission. Profit is a secondary goal.\u2019 Now, the mainstream media — I just read TIME Magazine circulation down 34.9%. Newsweek down 41.3%, and magazines have undergone recent revampings to make them more relevant to today\u2019s consumer. <\/p>\n

Now mainstream media companies ought to love this. Throw profit out the window? They\u2019ve never liked having to make profit in the first place. I\u2019m not talking about the owners. I\u2019m talking about the journalists. They\u2019ve always thought that profit somehow polluted the objectivity of what they did. Well, here\u2019s your chance. Simply go out there, borrow some money to grow the business back or whatever you want to do with it and say you\u2019re a L3C, and your mission is not profit. You have a social mission. And the social mission is to what? Propagandize the American people in the name of the Obama administration. ‘At least five other states are currently considering similar legislation, and L3C proponents, including the Council on Foundations, are courting potential sponsors on Capitol Hill for a federal bill. In Vermont, the first state to pass the legislation, more than 80 companies have incorporated as L3Cs in the past 21 months.\u2019 Do you understand the ramifications of this? And of course Vermont, a very liberal state, 80 companies have become incorporated, say, ‘Yeah, yeah, yeah, profit\u2019s not an issue, no, no, we got a social mission here.\u2019 <\/p>\n

‘Robert Lang, one of the original architects of the L3C concept, ‘We\u2019re trying to create an L3C whose very DNA insists that it has to put its beneficial activities in front of making money.\u2019 Lang, a former cosmetics business owner in Granite Springs, N.Y., came up with the idea soon after he was asked to run his late stepfather\u2019s small family foundation. He learned about ‘program-related investments\u2019 (PRIs), which are loans or investments private foundations can offer for charitable or educational projects, such as affordable housing or health clinics, even if they are run by for-profit entities.\u2019 Well, this is disturbing as all get-out to me because this is the corrupting of the private sector and to change its mission in toto and the left is just running hog wild unchecked over everything. Everything they can get their hands on, and as you\u2019ve seen, after just one year, folks, they destroy, they literally destroy what they set out in their mind to fix, which in truth is what they\u2019re setting out in their mind to change.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Here\u2019s Larry in Moore, Oklahoma. Great to have you on the EIB Network. Hello.<\/p>\n

CALLER: Hello. I had a comment about the LP or L3PC.<\/p>\n

RUSH: It\u2019s the L3C. It\u2019s a ‘low-profit, social mission corporation.\u2019<\/p>\n

CALLER: There you go. I think the EIB Network should probably apply for some kind of a grant because you have a social objective. The idea is to get all the dysfunctional minds properly working.<\/p>\n

RUSH: Yeah, but the problem with us is that we are oriented toward obscene profits, not small profits. We wouldn\u2019t qualify. We do both. We accomplish a social mission each and every day while making obscene profits.<\/p>\n

CALLER: Well, yeah, but compared to the confiscatory profits that the IRS makes you guys are small profits.<\/p>\n

RUSH: Well, yeah. (laughing) There\u2019s always somebody that does more.<\/p>\n

CALLER: Yeah, exactly.<\/p>\n

RUSH: Always somebody that has more, always somebody earns more. That\u2019s exactly right on the money. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Bill in Marietta, Ohio, nice to have you on the EIB Network. Hello. CALLER: Yes, sir. Rush, super mega dittos from the first government in the Northwest Territory. RUSH: Thank you, sir, very much. CALLER: Yes, sir. My question for the day is, a friend and I, staunch conservatives, both of us — I […]<\/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},"categories":[],"tags":[],"yoast_head":"\nCaller Asks: Should I Take a Grant? - 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:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Caller Asks: Should I Take a Grant? - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Bill in Marietta, Ohio, nice to have you on the EIB Network. Hello. CALLER: Yes, sir. Rush, super mega dittos from the first government in the Northwest Territory. RUSH: Thank you, sir, very much. CALLER: Yes, sir. My question for the day is, a friend and I, staunch conservatives, both of us — I […]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125112.Par.89380.ImageFile.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#website\",\"url\":\"https:\/\/admin.rushlimbaugh.com\/\",\"name\":\"The Rush Limbaugh Show\",\"description\":\"Excellence In Broadcasting\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/admin.rushlimbaugh.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125112.Par.89380.ImageFile.jpg\",\"contentUrl\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125112.Par.89380.ImageFile.jpg\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/#webpage\",\"url\":\"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/\",\"name\":\"Caller Asks: Should I Take a Grant? - The Rush Limbaugh Show\",\"isPartOf\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/#primaryimage\"},\"datePublished\":\"2011-05-19T01:25:08+00:00\",\"dateModified\":\"2011-05-19T01:25:08+00:00\",\"author\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rushlimbaugh.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Caller Asks: Should I Take a Grant?\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\/\/admin.rushlimbaugh.com\/daily\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Caller Asks: Should I Take a Grant? - The Rush Limbaugh Show","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/","twitter_card":"summary","twitter_title":"Caller Asks: Should I Take a Grant? - The Rush Limbaugh Show","twitter_description":"RUSH: Bill in Marietta, Ohio, nice to have you on the EIB Network. Hello. CALLER: Yes, sir. Rush, super mega dittos from the first government in the Northwest Territory. RUSH: Thank you, sir, very much. CALLER: Yes, sir. My question for the day is, a friend and I, staunch conservatives, both of us — I […]","twitter_image":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125112.Par.89380.ImageFile.jpg","twitter_misc":{"Written by":"admin","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/admin.rushlimbaugh.com\/#website","url":"https:\/\/admin.rushlimbaugh.com\/","name":"The Rush Limbaugh Show","description":"Excellence In Broadcasting","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/admin.rushlimbaugh.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/#primaryimage","inLanguage":"en-US","url":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125112.Par.89380.ImageFile.jpg","contentUrl":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125112.Par.89380.ImageFile.jpg"},{"@type":"WebPage","@id":"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/#webpage","url":"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/","name":"Caller Asks: Should I Take a Grant? - The Rush Limbaugh Show","isPartOf":{"@id":"https:\/\/admin.rushlimbaugh.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/#primaryimage"},"datePublished":"2011-05-19T01:25:08+00:00","dateModified":"2011-05-19T01:25:08+00:00","author":{"@id":"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b"},"breadcrumb":{"@id":"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.rushlimbaugh.com\/daily\/2010\/02\/08\/caller_asks_should_i_take_a_grant\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rushlimbaugh.com\/"},{"@type":"ListItem","position":2,"name":"Caller Asks: Should I Take a Grant?"}]},{"@type":"Person","@id":"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b","name":"admin","image":{"@type":"ImageObject","@id":"https:\/\/admin.rushlimbaugh.com\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/admin.rushlimbaugh.com\/daily\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/34607"}],"collection":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/comments?post=34607"}],"version-history":[{"count":0,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/34607\/revisions"}],"wp:attachment":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/media?parent=34607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/categories?post=34607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/tags?post=34607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}