{"id":37091,"date":"2010-12-17T01:01:01","date_gmt":"2011-05-19T00:15:13","guid":{"rendered":""},"modified":"2011-05-19T00:15:13","modified_gmt":"2011-05-19T00:15:13","slug":"dick_durbin_admits_that_tax_increases_damage_the_economy","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2010\/12\/17\/dick_durbin_admits_that_tax_increases_damage_the_economy\/","title":{"rendered":"Dick Durbin Admits That Tax Increases Damage the Economy"},"content":{"rendered":"
\n

RUSH: Here\u2019s Dick Durbin, by the way. This morning on Bloomberg Television\u2019s ‘InBusiness\u2019, Peter Cook, the chief Washington correspondent, was talking to him. Cook said, ‘A lot of angry Democrats out there.\u2019<\/line> <\/line>DURBIN: The nature of a compromise is to give up some things so that the other side will do the same, and that\u2019s what happened. The president has a big victory here. It\u2019s big because it means there won\u2019t be a tax increase at the first of the year, which could have hurt our economy. Unemployment benefits are going out to help millions of people across this country, and we\u2019re giving businesses some breaks to help that they will be able to stabilize and build their own employee workforce in the process.<\/line> <\/line>RUSH: Now, I have to analyze this, folks. I just can\u2019t let this go. Let\u2019s just take this line by line. ‘The president has a big victory here. It\u2019s big because it means there won\u2019t be a tax increase at the first of the year[.]\u2019 Dick, the only reason we have tax increases at all in this country is because of you! You guys come along, ‘there won\u2019t be a big tax increase\u2019? Why didn\u2019t you cut taxes two years ago, Dick? Why didn\u2019t you and Obama cut taxes two years ago in the midst of the beginning of the recession? If you want to admit to us two years after you have destroyed this economy, two years after you have purposely spent this country into a debt that it can never repay, you now want credit for not raising taxes? And people are actually gonna swallow this and not get sick? You guys actually want credit for not raising taxes because it\u2019s now not gonna hurt the economy? Well, that\u2019s really fine and dandy, Dick, after you guys have already done as much damage to this economy as one political party could in two years! You now come along and want to claim victory because you\u2019re not gonna damage the economy? Dick, if tax cuts, or if not raising taxes, is a brilliant economic maneuver in times of recession, then what the hell, why didn\u2019t you do them two years ago, Dick? Sorry, folks. I can\u2019t listen to this stuff and have it go in one ear and out the other. <\/line> <\/line>The next thing. ‘There won\u2019t be a tax increase that would have hurt our economy.\u2019 Finally! Who won here? You people want to tell me Obama wins when this is their take on it? They\u2019re singing our tune! They\u2019re using our lyrics. They\u2019re singing out of our hymnal. They\u2019re singing from the Reagan book. They\u2019re singing from the Buckley book, from the Burke book. I\u2019m sitting here and I\u2019m stunned. I know I\u2019m not as smart as the people inside the Beltway, but how can anybody look at what Durbin here — and, by the way, Durbin is saying this is what they want out there, this is what they want the media to report: ‘Oh, yeah, big, big win.\u2019 The president who has destroyed this economy, the president whose policies have stunk this country up, has spent us into generational theft levels of debt, now claim victory because there won\u2019t be a tax increase? <\/line> <\/line>Six weeks ago you wanted this tax increase, Dick. Two months ago you wanted this tax increase. Two months ago you and every Democrat wanted these tax cuts to expire. You wanted the Clinton tax rates. The Clinton tax rates of the nineties, that\u2019s what gave us the boom, you guys have been saying. A year ago you wanted these tax rates to expire. You\u2019ve wanted these tax rates to expire for ten years ever since they were implemented. You guys have said these current tax rates (that you now celebrate as your own) were the source of all the economic problems. ‘The Bush tax cuts, which never cut taxes for the middle class.\u2019 Dick, this is what you guys said. The Bush tax cuts were only for billionaires and millionaires, and you guys were saying that those tax cuts that Bush did were the single most destructive economic policy in ten years. And now, after three weeks, you want credit, and you want Obama to be able to claim victory because the Bush tax rates are extended? The party, the people that never wanted these tax rates to go up, is the Republican Party. You guys ride in here at sunset and you play almost Russian roulette with the nation\u2019s economy, and you guys claim victory? This is a big victory for Obama because taxes won\u2019t go up, ‘which could have hurt our economy\u2019? You guys are the architects of economic pain! And now you admit that we\u2019re right, that tax increases are bad for economic activity at any time, particularly in a recession — after you guys have done all the damage! <\/line> <\/line>‘Unemployment benefits are going up out help millions of people\u2019 that you have put out of work? Unemployment benefits are not gonna help the economy, Dick. Unemployment benefits are not gonna help these people find jobs. Nothing that you people on the Democrat Party have done has been in one way positive, supportive, or affirmative for the middle class in this country. You have done nothing but pull the rug out from under them with every policy that you have come up with under your so-called stimulus ideas. <\/line> <\/line>‘Businesses are being given some breaks to hope that they will be able to stabilize and build their own employee workforce\u2019? Why didn\u2019t you do this two years ago, Dick? If all of these conservative ideas are so good in December of 2010 that you guys, after two years — I cannot say this enough — after two years of destroying this economy, the last three weeks of the year you come out in support of all this stuff that we have been supporting our lives, and you claim victory for you? <\/line> <\/line>What this really means is that this is a huge defeat for Obama, and I don\u2019t care how anybody wants to look at this. When Barack Obama and Dick Durbin are singing from the Ronald Reagan hymnal and we got people want to talk about what a political victory it was for Barack Obama, I\u2019m sorry, folks, I\u2019m not seeing it. To paraphrase John Kerry, who served in Vietnam, the Democrats were against the Bush tax cuts before they were for \u2019em. By the way, what is in this tax cut bill that does anything for business? That\u2019s the one thing somebody\u2019s gotta explain to me. Stabilize? You guys haven\u2019t stabilized diddly-squat. <\/line> <\/line>So don\u2019t buy this inside-the-Beltway pap, folks. When Dick Durbin starts singing our tune, increasing taxes will hurt the economy, we win, and particularly when we realize if they\u2019d have done this stuff two years ago, we wouldn\u2019t be in this mess.<\/line><\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Play Durbin again. Grab sound bite 28. I just want to listen to his words. You keep in mind as you hear this, the question to him is: ‘Are there a lot of angry Democrats out there?\u2019 A lot of angry leftist, socialist, Marxist Democrat base. And they\u2019re not happy about any of this. They\u2019re not happy the budget deal went south. They\u2019re not happy with this tax deal \u2019cause they see it as a validation of Bush who they hate, and here\u2019s Durbin coming along and saying basically, ‘You know, the president has a big win here. The only way to save the economy is to keep Bush policies in place.\u2019 <\/p>\n

DURBIN: The nature of a compromise is to give up some things so that the other side will do the same, and that\u2019s what happened. The president has a big victory here. It\u2019s big because it means there won\u2019t be a tax increase at the first of the year, which could have hurt our economy. Unemployment benefits are going out to help millions of people across this country, and we\u2019re giving businesses some breaks to help that they will be able to stabilize and build their own employee workforce in the process.<\/p>\n

RUSH: Dick, if a tax increase will hurt the economy in January, December here, 2010, why won\u2019t a tax increase in November, December of 2012 hurt the economy? If a tax increase hurts the economy, why won\u2019t it two years from now? What\u2019s the magic of two years? ‘Well, the economy is gonna be coming back, Limbaugh, we\u2019re gonna be roaring back by that time, just has to be, just has to be.\u2019 Oh, okay, so we got an economy in recovery, we\u2019re finally coming back and then we can raise taxes? Right. The theory is that tax increases hurt the economy, period. So when the economy\u2019s coming back, it\u2019s safe to raise taxes? Ho-ho-ho. That makes a lot of sense. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Let me ask the question another way. This is going back to Dick Turban. He says we can\u2019t raise taxes now \u2019cause it would harm the economy, right? Yeah. But somehow we\u2019re gonna be able to raise taxes in two years. It won\u2019t harm the economy then. Here\u2019s the real question. The Democrats take credit here for Bush tax rates, they take credit for conservative ideology, and now in two years they\u2019re gonna turn around and run against that? In two years they\u2019re gonna want to raise taxes and run against what they said was necessary to save the economy. They\u2019re gonna run against themselves? They will. There\u2019s no question they will. Clinton did it like it never happened. But we\u2019re ready for \u2019em. Well, I\u2019m ready for \u2019em. Inside the Beltway people are gonna be talking about how smart he is all along, but we\u2019re ready for him \u2019cause he\u2019s gonna be running against what his own people said was necessary to save the economy, two years. He\u2019s gonna be running against himself. We\u2019ll be here and we\u2019ll put the concrete wall right up so he\u2019ll run against himself right into the wall. Then we\u2019ll see how smart he is. See if he can miss the wall. It\u2019s gonna be a big wall. <\/p>\n

Bill, Richmond, cell call, great to have you on the EIB Network.<\/p>\n

CALLER: Hello, Rush. How you doing today, sir?<\/p>\n

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

CALLER: Yeah, I just wanted to comment about the Clinton years. Yeah, what I believe is what really fueled the Clinton years was the expiration of the Treasury bonds, the ten-year notes that were given to reduce the inflation in the beginning of the Reagan years, and then subsequently (unintelligible) until 20-year time period. I mean you had tons of money coming into the market that fueled that economy.<\/p>\n

RUSH: Yeah, that was the bond market.<\/p>\n

CALLER: Yeah.<\/p>\n

RUSH: The bond market. Everybody was focused on the bond market, and Carville couldn\u2019t figure out, ‘Why does everybody care about the bond market? Who cares what the bond market\u2019s doing? I don\u2019t care about the bond market, who cares about it?\u2019 You have just identified why. It was the source of funds.<\/p>\n

CALLER: And there was plenty of money coming out into the market, and where did it go? It went to the stock market, offered better returns.<\/p>\n

RUSH: Yeah.<\/p>\n

CALLER: And there you go. That\u2019s how Clinton got his great economy.<\/p>\n

RUSH: Your point is it had nothing to do with his tax rates.<\/p>\n

CALLER: Not at all. Not at all, sir.<\/p>\n

RUSH: Because there\u2019s no way tax increases boost an economy, it just doesn\u2019t happen, but they wanted credit for it, they\u2019ve been saying that Clinton tax increases fueled the boom. If they did, where are they now? Why didn\u2019t they let these taxes go up? Remember, folks, the Bush tax cuts — if you listen to Obama, any Democrat — the Bush tax cuts, these current tax rates are the reason for this economic problem that we\u2019re in. They\u2019re the reason for the recession, the reason for the Iraq war, the reason for Afghanistan, the reason we had 9\/11, all this crap. Bush tax cuts, right? Clinton\u2019s tax increases gave us the boom. Well, we have a chance here for tax increases in two weeks. In two weeks we could get back to the Clinton boom. No, no, we couldn\u2019t, no, no, everybody knows raising taxes is gonna thwart economic — we\u2019ve got \u2019em tied here in as many knots as pretzels. And, sorry, I just don\u2019t see how they win this.<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Here\u2019s Dick Durbin, by the way. This morning on Bloomberg Television\u2019s ‘InBusiness\u2019, Peter Cook, the chief Washington correspondent, was talking to him. Cook said, ‘A lot of angry Democrats out there.\u2019 DURBIN: The nature of a compromise is to give up some things so that the other side will do the same, and that\u2019s […]<\/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":"\nDick Durbin Admits That Tax Increases Damage the Economy - 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\/12\/17\/dick_durbin_admits_that_tax_increases_damage_the_economy\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Dick Durbin Admits That Tax Increases Damage the Economy - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Here\u2019s Dick Durbin, by the way. 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