The following op-ed was written by Rush Limbaugh and appears in today’s Wall Street Journal:
There’s a serious debate in this country as to how best to end the recession. The average recession will last five to 11 months; the average recovery will last six years. Recessions will end on their own if they’re left alone. What can make the recession worse is the wrong kind of government intervention.
I believe the wrong kind is precisely what President Barack Obama has proposed. I don’t believe his is a “stimulus plan” at all — I don’t think it stimulates anything but the Democratic Party. This “porkulus” bill is designed to repair the Democratic Party’s power losses from the 1990s forward, and to cement the party’s majority power for decades.
Keynesian economists believe government spending on “shovel-ready” infrastructure projects — schools, roads, bridges — is the best way to stimulate our staggering economy. Supply-side economists make an equally persuasive case that tax cuts are the surest and quickest way to create permanent jobs and cause an economy to rebound. That happened under JFK, Ronald Reagan and George W. Bush. We know that when tax rates are cut in a recession, it brings an economy back.
Recent polling indicates that the American people are in favor of both approaches.
Notwithstanding the media blitz in support of the Obama stimulus plan, most Americans, according to a new Rasmussen poll, are skeptical. Rasmussen finds that 59% fear that Congress and the president will increase government spending too much. Only 17% worry they will cut taxes too much. Since the American people are not certain that the Obama stimulus plan is the way to go, it seems to me there’s an opportunity for genuine compromise. At the same time, we can garner evidence on how to deal with future recessions, so every occurrence will no longer become a matter of partisan debate.
Congress is currently haggling over how to spend $900 billion generated by American taxpayers in the private sector. (It’s important to remember that it’s the people’s money, not Washington’s.) In a Jan. 23 meeting between President Obama and Republican leaders, Rep. Eric Cantor (R., Va.) proposed a moderate tax cut plan. President Obama responded, “I won. I’m going to trump you on that.”
Yes, elections have consequences. But where’s the bipartisanship, Mr. Obama? This does not have to be a divisive issue. My proposal is a genuine compromise.
Fifty-three percent of American voters voted for Barack Obama; 46% voted for John McCain, and 1% voted for wackos. Give that 1% to President Obama. Let’s say the vote was 54% to 46%. As a way to bring the country together and at the same time determine the most effective way to deal with recessions, under the Obama-Limbaugh Stimulus Plan of 2009: 54% of the $900 billion — $486 billion — will be spent on infrastructure and pork as defined by Mr. Obama and the Democrats; 46% — $414 billion — will be directed toward tax cuts, as determined by me.
Then we compare. We see which stimulus actually works. This is bipartisanship! It would satisfy the American people’s wishes, as polls currently note; and it would also serve as a measurable test as to which approach best stimulates job growth.
I say, cut the U.S. corporate tax rate — at 35%, among the highest of all industrialized nations — in half. Suspend the capital gains tax for a year to incentivize new investment, after which it would be reimposed at 10%. Then get out of the way! Once Wall Street starts ticking up 500 points a day, the rest of the private sector will follow. There’s no reason to tell the American people their future is bleak. There’s no reason, as the administration is doing, to depress their hopes. There’s no reason to insist that recovery can’t happen quickly, because it can.
In this new era of responsibility, let’s use both Keynesians and supply-siders to responsibly determine which theory best stimulates our economy — and if elements of both work, so much the better. The American people are made up of Republicans, Democrats, independents and moderates, but our economy doesn’t know the difference. This is about jobs now.
The economic crisis is an opportunity to unify people, if we set aside the politics. The leader of the Democrats and the leader of the Republicans (me, according to Mr. Obama) can get it done. This will have the overwhelming support of the American people. Let’s stop the acrimony. Let’s start solving our problems, together. Why wait one more day?
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27 Responses
If he was serious then he could run for office and try to make a difference. Otherwise, he is just blowing smoke, which is how he makes his millions.
I wonder how much he gives to charity?
Rush understands that Obama has no interest in him or his commentary.So who is this addressed to? Weak republican leaders?
Askan: Rush knows his strengths. His power lies in his voice, in his talk show. As he puts it: “Talent, on loan, from God”. Why would he give that up? He can influence US politics (and make so much more money) far better from behind the “Golden EIB Microphone”.
Also, pelase explain to us why it concerns you how much charity he gives. Please explain how it is any of your, or our, business. Last I heard goyim don’t have a chiyuv ma’aser.
Mister Askan did you know Joe Biden who said taxes are patriotic only gace $ 200 to charity, as all “progressives” do.
Why is this posted here?? Why all this attention to rush on this site?????
I don’t know how much Joe Biden gave to charity, but he does not make nearly as much money as Limbaugh.
lets not RUSH to judgement. Keep opinions to yourself!
rebmoish, i was thinking the same thing. why post eveyones ideas? or everyone on the radio? why just Rush Limbaugh?
Moderators Reponse: Your right. We have just decided that we will no longer be approving your comments. You registered just 3 hours ago, and your comments which were deleted and never approved….. Well….. Whatever. We’ll save you the busha.
Find someplace else to spend your time……”MR TOWN CRIER.”
This site calls itself yeshiva world so its fair to assume the views expressed are those general to the mainstream yeshiva world.That being the case there is no better reoresentative in the the non-jewish world of our views than Rush Limbaugh the very peronification of “chochma bagoyim taamin”.I challenge anyone to find me one view of his that deviates from torah hashkofa.Whether it be israel,abortion,protection of marriage,low taxes,school vouchers,anti enviriomentalism avoda zorah,war againts terror,national security,anti socialism,people taking responsability for thier actions ect.ect this man deserves our support and admiration.As frum jews we have the achriyos to make a kiddush hashem and show the world how the Torah belief system differs than the secular jewish liberal one.Thank you Yeshiva world for this post which does just that.
The last article about Rush we were told that it was posted at the request of Rabbi P. Lipshutz.
Who asked for this article to be posted???
I don’t know how much Rush gave to charity last year. But I do know two famous events on his show. He gives 1 million the the Lukemia Lymphoma Society or something like that on his annual telethon. And when the famous Harry Reid letter was auctioned for 2.1 million to charity, Rush matched it. So that’s at least $3,100,000, in just 2 events.
The guy makes between 40 and 50 million a year. So those 2 donations are almost Maaser right there. Pretty good for a Goy in today’s society.
i agree with #10 king rush has better torah hashkafas then most of the so-called frum community
Look,it’s very simple. You want people to produce, you have to give them a good reason–you have to offer them a reward for their efforts.
If you confiscate their profits–for whatever “noble” reason–they go on strike.
The productive people in our society have gone on strike. They refuse to invest.
Go to Hong Kong, where their is no income tax. The economy is booming, and there are millionaires everywhere.
The people who want to “share the wealth”–steal the wealth–are really giving us a formula that will share the misery.
Rush Limbaugh is a mindless, uninformed, uneducated, former sports PR idiot, and anyone with the IQ of a shoe heel, should be able to recognize that. Let Rush conduct an economics roundtable and discuss his “views” (read: spontaneously invented hot air) with experts. When every one is done laughing, he can go back on air with his nahrishkeit.
Since the recession has already lasted longer than the “average”, his initial premise is off. The failure of major corporations (Citibank, GM, etc.) is not with precedent, but those precedents are 85 years old. Ditto for deflation. The low interest rates are in some cases without precedents (people trusted the banks more in 1932 than today, which is why federal debt requires minimal interest).
Cutting taxes based on income and profits are largely ineffective since during a recession those taxes fall automatically. For example, General Motors and Citibank pay no income tax since they are in fact losing money. There effective tax rate is zero (or “negative” if you figure in the bailout). Eliminating the payroll tax might help, but that means switching social security to general revenue (good idea, but that requires a radically different tax system).
Most of the “stimulus” will be for minor taxcuts (reassuring to the recipient, but not too stimulating), or payments to the states for programs they would do anyways (keep bridges from falling down, unemployment insurance, medicaid for the expanding number of poor). If a state goes broke (California is close, New York not far behind), it would endanger the bond ratings (borrowing costs) of everything in the US.
If the crisis wasn’t severe, GM and Citibank would oppose turning over control to the government and would borrow from the private sector to get their own house in order. That hasn’t happened.
Thank You Yeshiva World for posting Rush Limbaugh’s WSJ op-ed piece, as well as the other recent coverage of Mr. Limbaugh.
His opinion, whether you agree with it or not, as usual makes sense and has merit. Can’t say the same about most politicians.
And about the charity, Rush gives an enormous amount to charity (comment #12), and actually has the tact not to talk about it on air.
The Government Accounting Office estimates that 65% of the Stimulus money in the House bill will be spent before 2010 is done. That contradicts Limbaugh’s assertion. Tax cuts, however, allowed NYC securities companies to pay $17 billion in bonuses to highly-compensated bonuses. That’s the kind of relief Republicans want. I’d rather have money so states can rebuild infrstructure such as water pipes, which are bursting here daily.
Mega Dittoes from Flatbush Bubby Rush!!!!
to baaci40,
Rush is well-liked by a vast number of Orthodox Jews who agree with a lot of what he says. If you disagree with him, fine, but why do you have to name call?
#1, how much charity do Obama, Biden and Pelosi give?
#9, why shouldn’t you be allowed to listen? Do you need a special heter to vote for Obama?!
#5/#11, if you don’t like it, don’t read it!
#15, why don’t you stop your mindless ranting and explain to us why you think Rush’s policies are wrong?
Rush said a similar thing in 1993. He was willing to bet the DNC 1,000,000 that Bill Clinton’s economic policy would create a downturn in all major economic indicators.
He would have lost 1 Mil on that.
MIster Askan,
Rush give plenty of his time & money to various charities as well as spending his own money to support the military personel. One thing for sure is that he is not as cheap as most dems who talk the talk but cant walk the walk.
As for your comment that El Rushbo makes more money than El Cheapo, that as you know has nothing to do with anything. For one El Cheapo Biden should be giving his “fare share” (some liberal lingo there for you). Two, El Rushbo has a bigger audience and has had better years than El Cheapo.
ML
Moderators Note: Please address your post to the correct person, and that is “The Town Crier”. He is (was) MIster Askan (for a few hours) until he was busted.
#23,
Actually he wouldnt have lost anything because the Clinton plan cut taxes. The reason it cut taxes us because he needed the votes for it to pass Congress so he had to change it so that the Conservatives would vote for it. Obama doesnt need the votes but he is so eager to …. the Republicans he WANTS them to sign on. The ZERO he got last night from the Republican party was a BIG potch in punim for him.
There is a big flaw in his logic.When Obama won,with 54%,he gets 100% of the presidency.To claim well 46% voted against him so let us give 46% on a Republican basis make sno sense in a democratic society where winner takes all.
The fact that Obama is destroying morale by saying how bad things are is problematic.
“Rush Limbaugh is a mindless, uninformed, uneducated, former sports PR idiot, and anyone with the IQ of a shoe heel, should be able to recognize that. Let Rush conduct an economics roundtable and discuss his “views” (read: spontaneously invented hot air) with experts. When every one is done laughing, he can go back on air with his nahrishkeit.”
Penny613,
Uh, any intelligent counterpoint to Rush, or will this be all? Thanks for sharing.
Penny613,
Rush’s views are just about the closest to frum jewish values as you will ever find in a goy/non-jew.
you yourself seem like YOU have an issue with these views,
Torah values almost, and I find that sad.