RUSH: We continue to listen to disgruntled Democrats and others in the administration try to ‘splain themselves. Back now to Ichabod Crane, this is Austan Goolsbee this morning on Fox News Channel, American Newsroom, talking to Bill Hemmer, and Hemmer said, ‘Do you agree with Larry Summers that we would be headed for a double-dip recession if these tax cuts were not extended?’
GOOLSBEE: I try to stay out of the prediction business, but I don’t think there’s any doubt by private forecasters or us internally that if you let the middle income tax cuts expire and ordinary Americans see their taxes go up $3000 or $4,000 starting January 1st, that will be a big blow to the economy.
HEMMER: You know Peter Orszag, a former colleague of yours there in Washington. Six months ago he was talking about extending the tax cuts for everyone. Was Peter Orszag right?
GOOLSBEE: Well, he did call for a two-year extension of both —
RUSH: I guess that’s the answer. We don’t know what else he said there, but I just want to remind you on Tuesday Obama said there’s no way we’re gonna have a double-dip recession, no way, we’ve already taken steps to prevent that. Then Summers comes out and says if we don’t extend the rates we’ll have a double-dip recession, then Obama comes out and says if we don’t extend the rates we’ll have a double-dip recession. And here’s Goolsbee saying, well, yeah, internal, external forecasters are right on the money, we’re gonna have one if we don’t do this. And the guy twisting in the wind is Obama. He’s the only one that’s contradicted himself. Gary Ackerman, this is a New York congressman who’s not happy. Late yesterday afternoon on MessNBC during a discussion about the tax rate compromise, the host, Dylan Ratigan, said, ‘What’s about to happen here?’
ACKERMAN: Everybody’s gonna get an earful. I think the vice president is gonna make the strongest case he can, and I think he’s gonna be able to gauge the intensity of the members of the Democratic caucus who are saying, why should we take this vote? This isn’t the DREAM Act. This is the Republican wet dream act. They get the Democrats to add to the deficit, they get all the benefits for their wealthiest friends in America to pay them off for their huge contributions that they made during the campaign and got an exemption from the US Supreme Court. The whole thing is an absolute absurdity.
RUSH: This guy is typical of the left. He’s just livid. They get the Democrats to add to the deficit, they get all the benefits for their wealthiest friends. Meanwhile, nothing changes. It’s what Vickie was just asking about. How can they say this? Because they’re partisan ideologue Marxists and they’re crazy and stupid. Nothing changes. And Ackerman’s got himself tied into a knot. He’s like a pretzel out there. Here’s James Carville last night, CNN’s John King USA, question: ‘If the liberals are so mad at him, have the conservatives overplayed that this guy is so far left? This guy is a socialist? This guy is way out there? The people who seem most mad at him are the people on the left.’
CARVILLE: There’s a strategy here — I don’t — this is not — if there’s a strategy, where is it? It’s just — and — and, by the way, the single biggest failed economic policy in history are the Bush tax cuts. Why are we extending something that demonstratively didn’t work? It didn’t grow incomes, that left us with our cupboard bare, it exploded the deficits and give us $4 trillion more in deficit. That’s what I don’t understand.
RUSH: So Carville sticking with the talking point the Democrats have banked on for ten years, that the Bush tax cuts are the worst thing ever. Now the regime’s come along and basically said the current tax rates are gonna be a major shot in the arm, but only for two years, and they shouldn’t have been passed ten years ago in the first place. I mean that that’s the regime’s position. And, you know, Carville, somebody who does have his head screwed on right most of the time is listening to this and pulling out what little hair he’s got left saying, (imitating Carville) ‘It doesn’t make any sense out there. The Bush tax cuts have destroyed everything, our cupboards are bare.’ Again, folks, the current tax rates, they say a major shot in the arm, in two years they gotta get rid of them then and they shoulda never been passed ten years ago in the first place.
Anthony Weiner was on Megyn Kelly’s show on Fox yesterday and literally had a meltdown. They’re talking about the estate tax. Megyn Kelly said: ‘On the estate tax, the argument from the other side is that it’s a morally corrupt tax; that if I work all my life and I pay my taxes on my income and then I die and I want to pass on what would be great if it were a $5 million estate to my kids, why should I pay the government again? Why should there be a 35 percent, or 45 percent, or 55 percent tax on that again?’
WEINER: You aren’t paying anything in that case because you’ll be dead.
KELLY: Well, the estate is, and that’s less for my children.
WEINER: Well, you — but you — the only question is — look —
KELLY: No, you’re not — answer my question. How is that fair?
WEINER: Megyn, Megyn, Megyn, you’re gonna have to let me answer the question if we’re gonna have a conversation that gets us anywhere.
RUSH: Okay, okay, go ahead, then.
WEINER: The only question here is not whether or not there should be a tax on that. The question is where the limit should be and how much should be —
KELLY: No, I’ll ask the question you’re not answering. Just tell me how is it fair?
WEINER: Ready?
KELLY: I am.
WEINER: So the question is at what level should it be taxed? Some people around here think it should be higher, some people should be lower. This deal would basically say that for people who inherit money, that money gets taxed at a lower rate than if they worked 70 hours to earn it. That’s just not fair.
RUSH: And I don’t have time to play the final cut, but basically he makes the point here that everything you own is the property of the government. We’ll play that bite for you when we have time.
BREAK TRANSCRIPT
RUSH: Megyn Kelly says, ‘They earn the money. If they want to pass it on to their children, why can’t they?’
WEINER: No, they do not. They’ll be dead.
KELLY: They didn’t earn the money?
WEINER: No, they’ll be dead.
KELLY: Is it not double taxation?
WEINER: Those people will be dead. The only people we’re talking about are people who inherit money. Yes, some people get very lucky, are very lucky at the casino. Should we tax that at a lower rate than if you worked hard and earned it?
KELLY: Well, it’s different from double taxation where one person earns it and pays taxes on it.
WEINER: Are you not —
KELLY: I see a distinction between your analogy and the question I raised. In any event, I appreciate your thoughts on it.
WEINER: It’s unearned income Megyn, that’s the bottom line.
KELLY: If you say so. I gotta leave it at that.
RUSH: So because you’re dead, you can’t be said to have earned the money ’cause you’re dead. That’s his position. So it ought to go to Washington, because you’re dead.
BREAK TRANSCRIPT
RUSH: I have a question for you. If, once you die, you don’t have any rights to your money, then why should you be responsible for your debts? I mean, if you don’t have any rights to your wealth because after you’re dead you can’t earn it, then after you’re dead you can’t go into debt. So why are your debts any of your responsibility? Somebody needs to ask Alan Grayson Jr. that question. This guy Weiner, he’s a new Alan Grayson. We got Alan Grayson going batty on MSNBC last night.
BREAK TRANSCRIPT
RUSH: Back to the audio sound bites. Anthony Weiner I said is the new Alan Grayson. Weiner’s staying in Congress. Grayson is going. Last night he was on The Last Word, Lawrence O’Donnell, PMSNBC. O’Donnell said, ‘Congressman, if you were to succeed at this and kill this bill, all the tax rates would increase January 1st. Do you know which bracket would actually be hit with the largest percentage increase?’
GRAYSON: Yes, the people who have dividend income.
O’DONNELL: Wrong, Congressman! Stop there! It’s the bottom tax bracket, not the top tax bracket. The bottom tax bracket would go from 10% to 15%. That is a 50% increase in the bottom income tax bracket, the one —
GRAYSON: I’m sorry, but —
O’DONNELL: — the one none of you —
GRAYSON: Respectfully, you —
O’DONNELL: — Democrats ever talk about.
GRAYSON: Respectfully, you —
O’DONNELL: You are wrong, sir.
GRAYSON: Let me —
RUSH: It didn’t stop there.
O’DONNELL: When you’re out of office in January and the Republicans control the House, I want you to tell me what you would say to Floridians in your district who are now gonna be represented by a Republican. Tell me what you would say to them who are in the 10% bracket now, the lowest bracket, that their income tax rate goes up 50% to 15% on the first week in that first paycheck they get in January. Tell me what you would say to them about why you allowed that to happen.
GRAYSON: I don’t think that would happen, but I think you’re missing the point.
O’DONNELL: It would happen if you get your way!
GRAYSON: You’re missing the point.
O’DONNELL: Stop. Be an adult about this, Congressman.
GRAYSON: Oh, please!
O’DONNELL: If you get your way, there is no bill.
GRAYSON: Let’s insult each other with that kind of language.
O’DONNELL: If you get your way, there is no bill, taxes go up.
GRAYSON: This is supposed to be the intelligent network, okay?
O’DONNELL: If you get your way, the taxes go up.
RUSH: ‘Let’s not talk that way. I won’t lose my mind on your show. This is where the adults are. I’ll save that for the floor of the House — or, if you ask me about Limbaugh I’ll be glad to lose my mind, but lets you and I act like adults here.’ How out of it do you have to be to be crazier than Lawrence O’Donnell? Here’s Lawrence O’Donnell trying to help this guy. ‘Mr. Grayson, do you understand what you are proposing?’