Obama’s New Ideas Sound Old

RUSH: Moving to Washington, DC, at the Policy Center, Senator Barack Obama spoke. He said he has new ideas out there, and his new ideas are basically just a replay of the same old liberal ones: class warfare and soak the rich.

OBAMA: At a time when Americans are working harder than ever, we are taxing income from work at nearly twice the levels that we’re taxing gains for investors. I will restore simplicity to the tax code and fairness for the American middle class. We will also turn the page on an approach that gives repeated tax cuts to the wealthiest 1% of Americans, even though they don’t need them and did not ask for them.

RUSH: Wrongo. We always ask for them, Barack. It’s not a matter of your determining my needs. It’s none of your damn business nor anybody else’s in Washington to determine my needs or anybody else’s, and then to construct policy on the basis of it. The rich are paying an ever greater share of the income tax burden than they ever have, Barack. There are more middle class people not on the income tax rolls than ever in American history. The rich are paying the lion’s share of income taxes. Now, explain this to me, too. I’m for tax cuts for everybody, Senator Ubama. But this notion that somehow capital gains taxes, the rates are too low, we’re taxing work at a greater rate than we’re taxing investment, well, then lower the income tax rates and really watch revenue pour in! Why do we want to penalize investors now, Senator Obama?

What is it with you people? You want to penalize success. You want to penalize risk. How about these investors who go south, who make bad risks, bad investments, I’m not talking about these mortgages, just people who invest in the stock market or whatever, the deal goes south, you going to make it good for them, Senator? You going to make up the loss? Of course not. Why do you want to impugn investment? What the hell do you think makes a country grow? It certainly isn’t your stupid programs that you come up with that are just retreads of age-old New-Dealism that do nothing but kill off economic growth. He doesn’t have a prayer anyway, but Hillary’s even worse.