Rush Limbaugh Morning Update - Jul 20, 2010

http://www.werushdaily.com

"Disaster!" - Well, isn't this a kick in the butt! We have another story about the "rich" not spending their money because they're worried about the economy, and as a result, the economy sucks. (Maybe I should say, "still sucks".)

This one's in the New York Times, headlined: "Wealthy Reduce Buying in Blow to the Recovery". Appropriately, the reporter is named Motoko Rich. He writes, "The economic recovery has been helped in large part by the spending of the most affluent. Now, even the rich appear to be tightening their belts."

That's right. Last year, higher-income people opened their wallets with more "confidence," while everybody else was mired in misery. But, Mr. Rich reports, "their confidence has since ebbed, according to retail sales reports and some economic analysis." To buttress the point, he examines the stock market, luxury hotel bookings, real estate, and upscale retailers. All grim. And all the grim news is coming from households earning more than $210,000 a year -- the top 5 percent of wage earners.

Category:

News & Politics

Tags:

• New York Times
• Economy
• The Rich

[SINKUSUC]

Obamacare and thr progressive attack on capitalism will cause the Depression to last much longer. Look for 2012 when seeking the recovery, that is if America grows wise and kicks these bumbs out.

[frogsoda]

I would like for some liberal to explain to me how raising taxes on the rich is going to get them to spend more and hire more people.

[rockinandout]

Hey rush your making a ton of money did you keep spending? Dont call out people if your one of them.

[MuslimPigFuckers]

@SoySauceMaster - You obviously have no clue what a free market entails. No contracts? No stock market?? How do businesses get capital?? Wow, you are dumb.

[frogsoda]

@SoySauceMaster No government regulation, No taxation?

[frogsoda]

@SoySauceMaster You use a lot of words to say very little.

[frogsoda]

@konman001 "I don't like taxes myself - but you present a strawman argument."

No. YOU present a strawman argument. I do not present an argument. I am asking a question. Which you still avoid with a platoon of strawmen.

When you learn the difference between a question and an argument, Get back to me. Until then please stop wasting my time.

[konman001]

To answer you question, raising taxes won't do much one way or the other as far as jobs are concerned.

If (as Limbaugh is suggesting) we LOWERED the taxes on the corporate rich then they still would not be compelled to hire an American worker - they would rather continue to hire cheap Chinese laborers and illegals and you're still stuck with the question of who will pay for the wars, bailouts, etc. (before interest on these bills gets too high)?

It' unfair - but what would you suggest?

[konman001]

I don't like taxes myself - but you present a strawman argument.

I think it is unfair for Obam AND Bush - to sign multibillion dollar bailouts which landed in CEOs pockets - which we will pay for in future. Nevertheless, you probably cheered when Bush send in the jets to blow she shiznad out of Baghdad but now you whine when it is time to pay the bill for all these bombs and soldiers' sallaries. How nice of Bush to spend on war and leave Obama with the bill - a trick Obama uses himself.

[frogsoda]

@konman001 How about if you stick to the subject and stop with the personal attacks. It just makes you look primitive.

I asked a simple question and you continue to aviod it.

How is raising taxes going to bring jobs back to this country?

[konman001]

Dude - you are dense - TAXES OR NO TAXES, companies were going to leave USA behind in the dust.

Chinese factory worker gets paid 1/10th of what the US worker gets paid - how do I know? - because I worked for a chinese company in China 3 yrs ago! IF there is such a heavy difference in sallary which translates into unbelievable cost savings then US was going to get left behind NO MATTER WHAT the administration did or did not do.

I don`t like liberals myself, but I also know what greed is.