Mnuchin Rejects Dems, Trump Executive Action Looms

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RUSH: “Tax preparers are concerned that many of the millions of Americans receiving unemployment benefits due to the pandemic are unaware that they might owe money to the IRS next year. Jobless benefits are subject to federal income taxes.” You know why? ‘Cause it’s income. It’s income. And you might think, “Well, wait a minute. I’ve paid for this. I paid into my unemployment compensation.” No, not this you haven’t. This is a special — how many trillions have we spent? Six trillion dollars? And there’s another deal that is hanging by a thread this afternoon. It’s got everything. Not the deal. I mean the scare tactics being used to get it signed into law.

Trump is saying, “Don’t worry about it, everybody, I’ll just do it by way of executive order if the Democrats try to block it.” The Democrats are trying to block the extension of unemployment benefits. Well, they are. They’re trying to block it by throwing so much stuff into it that nobody with half a brain would support it. They’re trying to add $3 trillion, basically Green New Deal stuff into it.

Oh, by the way, there’s a story going around that the Democrat Party does not want Alexandria Ocasio-Cortez speaking at their convention. (interruption) You haven’t heard that? Yeah, there’s a scuttlebutt going, it’s such a big story that it’s there on the Drudge Report. The headline here real quickly.

The picture of her makes it look like she’s wearing a hijab. She not, but the picture makes the look like she’s at the Hajj in Mecca.

“Alexandria Ocasio-Cortez denied speaking role at Democrat convention?” with a question mark after it.

And then in Minnesota it looks like Ilhan Omar may be in deep doo-doo. It looks like polling data says she may lose her election coming up.

No, folks, this IRS stuff, if people don’t realize it’s income to you. And it’s a lot of money. And they’re not withholding anything, I don’t believe. As somebody not getting it, I don’t know. Maybe. I don’t think they’re withholding. Even if they are, they may not be withholding enough. You may end up owing taxes on this, and you’re probably gonna think when that happens, “Wait a minute. This was a benefit. This is supposed to save me. I was out of work. I was having to get my apartment –” I know, but it’s all imputed income. So you have been warned.

BREAK TRANSCRIPT

RUSH: The Treasury secretary, Steve Mnuchin, has just rejected the Democrats’ latest offer of a coronavirus stimulus package of $2 trillion. Good for him.

Two trillion. Because one and a half trillion of that would be a bunch of Democrat wish list stuff to further advance their agenda.

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