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<\/p>\nJASON: With regard to some of the topics that — you know, that we like to discuss on the Rush Limbaugh program, economic growth is topic number one. I mean, without economic growth, you can\u2019t fund the military. Without economic growth you can\u2019t have a rising tide. We can\u2019t have a reducing median income. Without economic growth, not much of anything is possible. And that\u2019s why the Biden tax hikes are so deleterious. The United States just added 260 — what is it, 260,000 jobs last month. They thought they would add a million.<\/p>\n
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People always ask me, “Hey, Jason, what\u2019s going on here? I mean, you\u2019ve got a situation where the stock market\u2019s going gangbusters. I thought Biden was gonna destroy it.” The stock market has factored in the failure of Bidenomics. They don\u2019t think it\u2019s gonna pass. Certainly not in the way Joe Biden wants and Kamala Harris and the rest of these dyed-in-the-wool socialists want. The market is saying, no, this isn\u2019t gonna work. The midterms are gonna, you know, return a majority to the Republicans in the House. None of this stuff is gonna happen.<\/p>\n
Now, if they start to believe that the Biden tax increases, the reregulation of the economy, the packing of the Supreme Court that threatens property rights, if they start to believe that, as they start to really think that companies\u2019 intellectual property is gonna be handed off to the globe as they\u2019ve done with the patents on the vaccines, then the market will start to say whoa, whoa, whoa, hold on, or employers will start to say, I\u2019m gonna wait until next month or next year to hire somebody, and that may have happened last month. It was far below the expectations of a million jobs.<\/p>\n
The unemployment rate rose slightly to 6.1%. If the market believes that employees think it\u2019s better to take that extra $300 a month in unemployment benefits, which puts you over what you could earn working, better to take another check from government, better to go on Medicaid even if you\u2019re able-bodied without dependents, then you\u2019re gonna see this malaise kick in. And you\u2019re going to see the government subsidizing people not to work, which is essentially what Democrats want to do. That\u2019s why the Democrats are so excited about keeping the pandemic going. They can get every human being addicted to a check from them, which makes them very, very powerful.<\/p>\n
Speaking of naps, President Biden yesterday — or was it this week? — in Lake Charles, Louisiana, talking about $3.3 trillion in taxes that aren\u2019t really $3.3 trillion in taxes. Hit audio clip one.<\/p>\n
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BIDEN: We gotta compete. And it doesn\u2019t cost anybody anything and deprive anybody of anything they have earned or deserve. The plan that I put forward meets the middle class and raises corporate rate. It also lowers it where lower than any point since World War II. And it\u2019s gonna generate 90 billion each year, hundreds of thousands of jobs. We\u2019re gonna put a lot of folks to work.<\/p>\n
JASON: I have no idea what he just said. Unfortunately, neither does he. So a $3.3 trillion over the next 10-year tax hike doesn\u2019t cost anyone anything. What, the tooth fairy — this is like calling social workers when you\u2019re getting robbed. Don\u2019t worry. You don\u2019t need the police. Call Dr. Phil. He\u2019ll be there in a minute. And this tax hike doesn\u2019t cost you anything. What is he thinking? With my he\u2019s not thinking. He doesn\u2019t know what he\u2019s doing, and his advisers are telling him what to say and how to say it and what to do. Biden is a puppet.<\/p>\n
And the idea that we\u2019re going to compete by raising taxes on small businessmen and women, on workers, anybody making over $200,000 a year, which you\u2019d be surprised, a lot of — understand something, folks. Most small businesses file a pass-through tax return. They\u2019re a Subchapter S corporations, they\u2019re LLCs, they\u2019re sole proprietorships, they\u2019re partnerships. That means their business income flows to their individual return; so when the IRS and the Biden focus calculate, “Oh, you\u2019re making over $200,000 a year,” 180,000 of it\u2019s your business income. And that\u2019s what they want to tax.<\/p>\n