Limbaugh Lesson: Why Corporate Tax Increases Hurt Workers

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TODD: It’s a very hard thing to fight against free stuff. It is a very difficult thing, ’cause people perceive things as free — and, of course, they want these things. Now, Rush wanted so much for people to experience the permanent joy of achievement versus the psychological sugar rush of free stuff, because he knew that fake free leads to real dependence.

RUSH: When you’re obsessed with wanting things for free, who is it that promises to do that for you? The Democrat Party and the government. Free Obamacare, free health care, free food stamps. Of course, it isn’t free, but to them they think it is. That’s the first thing about it that bothers me.

The second thing about it that bothers me is the expectation that people that invest and build out and build up ought to give away their product as a public service or some such thing? Whereas the easy answer is to go out, get a job, earn the money you want to be able to buy the things you want and the things that you need. The idea that’s such a foreign concept marks a huge generational shift to me.

I don’t know, folks. Like I said, it’s a pet peeve. Every time I read — and not just of the Millennials. When I read people demanding or expecting or celebrating that something is free, there’s something about it that sends a red flag up. Something that gets my instincts highly attuned that this is not good, the expectation, the hope that something would be free, when nothing is.

Well, that’s actually not true. The moon’s free. It’s there for everybody. Nature’s free. It’s there for everybody. In fact, there was a Broadway tune that said, “The best things in life are free. They’re there for you and me.” But you don’t possess them. They are the delights of life, but you don’t possess them. And to a certain degree that’s true.

We’re not talking about the delights of life. We’re talking about things and stuff that these people want and hope and expect would be free. When you’re of that mind-set, somebody comes along and promises you they can deliver, then they’re gonna have you for the rest of their lives, and yours, too.

TODD: That’s what Joe Biden’s dementia through Barack Obama’s teleprompter is offering in exchange for being allowed to borrow and spend all this money. Free, free, free. Rush formulated something so important that as we’re seeing this fight-back in Texas against the vaccine passports — also in Florida — we’re seeing a fight for voter integrity in states like Georgia. Arkansas has a bill — I think it’s passed — to prevent enforcement of unconstitutional gun diktats from the federal level in the state of Arkansas.

Rush had a wait to fight back against tax increases, even against the so-called filthy rich. You remember when the Democrats decided to go after big yachts and yacht buyers with massive tax increases like Biden’s teleprompter is now contemplating? If Republicans would simply remember these lessons from Rush, that corporations don’t pay taxes, and corporate tax increases hurt the workers.

RUSH: Do you remember over the years I’ve always told you the Democrat targeted tax increases on the rich never work? The reason they don’t work is because the rich don’t just sit there and make targets of themselves. The best example I can give you of this is when the Democrats raised taxes on luxury yachts and boats, and they thought, “All right, we’re gonna screw the rich! We’re gonna soak the rich, gonna raise taxes on their yachts.” You know what happened? The rich stopped buying yachts made in America! They started buying yachts made overseas.

You know who suffered?

The people that make the yachts in America. They were laid off. Nobody was buying American-made yachts because the Democrats had raised taxes on ’em, so they were buying ’em overseas. So yacht makers in America laid off their employees. So the Democrats end up harming their own voters. Same thing. You raise taxes on the rich, whether it’s income or wealth, they’re gonna find a way. They’re gonna innovate and adapt, they’re gonna find a way not to pay.

I’ll give you another example. You may not remember this. In 1993, Bill Clinton decided that he was gonna have a tax increase on corporate CEO salaries. Yeah! Any corporation that paid its CEO over a million dollars would be taxed at a new tax rate over a million dollars. Well, that was gonna make it really hard for corporations to find the best CEO they could find.

So you know what they did? They created stock options. They created a way to compensate CEOs outside of the traditional earned income. So they found a way to not pay that tax. In fact, I think it was done on purpose to create the stock-option angle.

And this happens all the time. Capital gains taxes? They’ll raise taxes on capital gains; people find a way around it. The ingenuity, the adaptability and the innovative characteristics of the American people is unparalleled anywhere in the world. And you know why? Freedom, folks! The American people have the freedom and liberty to be as creative as they know how to be.

And, by the way, we’re not all created with the same talents and abilities. Some people are far more creative than others, in certain things. Others are more creative in some things than others. It all works. It all evens out. But it is the freedom that Americans have, it’s the liberty that Americans have that permit this kind of innovation, adaptability.

People around the world probably have the same talents. I know they do. They just don’t have the liberty or freedom where they live to put ’em into action, put ’em into play.

TODD: Take note, Republicans what Joe Biden’s dementia is contemplating. This increase in corporate taxes, those jobs that came back to the heartland, those jobs that came back to the Rust Belt? They’re going to be shipped out again. Are you there with the people who’ve gotten these good-paying jobs back? As Joe Biden’s dementia condescends to them that, “Hey, maybe you can start go getting into green industries! Maybe it’s time for a new career. Maybe you should learn to code,” the constant refrain, you have an opportunity to seize the attention and earn the loyalty of American workers by pointing out this reality, as Rush explained it with the example of yachts.

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