RUSH: An NBC reporter actually stumbled upon an economic truth. It was an accident. It wasn’t intentional, but still the NBC reporter got it right. Andrea Mitchell was talking to the correspondent Rehema Ellis about schools closing in Kansas City and elsewhere because of budget shortfalls, and Andrea Mitchell, NBC News, Washington, said, ‘This is not just Kansas City. This is the most drastic case we’ve seen so far, but this is a ripple effect we’re seeing from the recession. What is going to happen to the students there and elsewhere across the country?’
ELLIS: It’s simple, too, Andrea, you know, we hear a lot of people complain about the excesses of Wall Street here in New York and people getting big bonuses. But when they get those bonuses, that money then is taxed. That tax goes into state coffers. Those states then are able to give money to the schools. When it’s not there, guess what? That means the money’s not there for the schools and education, so that ripple effect comes down and it’s starting to hit a lot of people at home and it’s starting to hit our kids in the schools.
RUSH: Now, this infobabe Rehema Ellis is going to be embarrassed when I point out that she’s justifying Ronald Reagan trickle-down economics. She’s just defined supply-side economics. Well, you know, we hear a lot of people complaining about the excesses of Wall Street here in New York and people getting big bonuses, but when they get those bonuses that money’s taxed. And that tax goes into state coffers. We love that, Andrea, we love people’s tax money going to state coffers but they have to earn the money first, Andrea, and if they’re not earning the money then there’s no tax, and we love tax, and we love the state coffers but if there’s no money being earned there’s no taxes, no money in the state coffers, so those states then are not able to give money to the schools. And when it’s not there, guess what? That money is not there for the schools. Meaning, the more you tax people, the less they’re going to have, and unemployment, no jobs, no state tax revenue. So Rehema Ellis of NBC probably will be assigned with ChiCom journalists who are being sent into retraining sessions to learn Marxist news reporting techniques because this babe explained Reaganomics here pretty well.