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The NOT Rush Limbaugh LIVE Radio - Monday, June 7 - Friday June 11, 2010
The EIB Network ^ | 06/07/10-06/11/10 | Rush Limbaugh

Posted on 06/07/2010 8:36:38 AM PDT by IMissPresidentReagan

AND NOW . . . amidst billowing clouds of fragrant, aromatic first- and second-hand premium cigar smoke. . . it is time for . . . that harmless, lovable little fuzz ball, the highly-trained broadcast specialist, having more fun than a human being should be allowed to have, from behind the golden EIB microphone, firmly ensconced in the prestigious Attila-the-Hun chair at the Limbaugh Institute of Advanced Conservative Studies, serving humanity simply by showing up, and he’s not retiring until every American agrees with him, do NOT doubt him, with shrieks of joy at the mere mention of his name (that’s Rush, for those in Rio Linda),the Mandarin of Talk Radio, with talent on loan from G-d, at the cutting-edge of societal evolution, with half his brain tied behind his back — just to make it fair, the all-knowing, all-caring, all-sensing, all-feeling, all-concerned Maha-Rushie! America’s anchorman, truth detector, and doctor of democracy. A Real Man, a living legend, a way of life. Commander in Chief of U.S. Operation Chaos. Chief Waga-Waga El Rushbo of the El Conservo Tribe. Chief of the Patriotism Police. Leader of the Conservative Movement. A Weapon of Mass Instruction. El Rushbo (a little Spanish lingo, there). He is the man who is running America (you know it and I know it). He knows the Democrats like every square inch of his glorious naked body. He is ready to do what he was born to do—that’s host. Get ready to what you were born to do—that’s listen (and post your comments on the Rush Limbaugh LIVE Radio Thread).


TOPICS: Government; Politics/Elections
KEYWORDS: elrushbogetsmarried; eltonjohn; homosexualagenda; limbaugh; rush; rushlimbaugh; talkradio
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To: NonValueAdded; LibertyisSpecial; HOYA97; ICFN(ICan'tFixNothing); StoneWall Brigade; ...

The Friday Pings -
So glad we can retire this week and this thread! Can’t wait for Rush’s return on Tuesday.


281 posted on 06/11/2010 8:20:28 AM PDT by IMissPresidentReagan (Obama golfed while the Gulf died. (((Palin/Cheney/Bachmann - The Axis of AWESOME!!!!))))
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To: IMissPresidentReagan

Did he inherit a family this time around? I got a notice yesterday that our RUSH 24/7 has expired so I had better renew that...


282 posted on 06/11/2010 8:24:43 AM PDT by tubebender (Life is short so drink the good wine first...)
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To: IMissPresidentReagan

Wonder who we have to suffer through on Monday?


283 posted on 06/11/2010 8:35:50 AM PDT by b4its2late (Why does a slight tax increase cost you $200 and a substantial tax cut save you 30 cents?)
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To: All

I just tweaked the header a little on my new blog. Check it out!

http://bootmikecastle.com/


284 posted on 06/11/2010 8:43:43 AM PDT by MarkLevinFan (Thank me!)
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To: IMissPresidentReagan

There are no Alvin Greene 2010 bumper stickers at Zazzle :o(


285 posted on 06/11/2010 9:00:30 AM PDT by Clint N. Suhks (RIP Bahbah. Palin/Cheney 2012)
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To: Clint N. Suhks

Darn.

That race is amusing me to no end. Go Alvin, Go!


286 posted on 06/11/2010 9:03:23 AM PDT by rightwingintelligentsia (Forcing one person to pay for the irresponsibility of another is NOT social justice.)
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To: rightwingintelligentsia

I’m thinking about making one if someone else doesn’t.

Since he only had a few fliers made I may send him some. Including Keith Overbite.


287 posted on 06/11/2010 9:08:27 AM PDT by Clint N. Suhks (RIP Bahbah. Palin/Cheney 2012)
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To: rightwingintelligentsia
Found one at CafePress!

288 posted on 06/11/2010 9:16:51 AM PDT by Clint N. Suhks (RIP Bahbah. Palin/Cheney 2012)
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To: Clint N. Suhks

We have to come up with one that is more creative.


289 posted on 06/11/2010 9:27:04 AM PDT by rightwingintelligentsia (Forcing one person to pay for the irresponsibility of another is NOT social justice.)
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Friday bttt


290 posted on 06/11/2010 9:28:30 AM PDT by Matchett-PI ("If Obama Won, Then Why Won't Democrats Run on His Agenda?" ~ Rush Limbaugh - May 19, 2010)
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To: A CA Guy

I believe that was Arthur Laffer.


291 posted on 06/11/2010 9:29:38 AM PDT by mewzilla (Still voteless in NY-29. Over 250 roll call votes missed and counting...)
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To: A CA Guy
And I recommend...

The End of Prosperity: How Higher Taxes Will Doom the Economy--If We Let It Happen by Laffer, Moore, and Tanous.

And Laffer's latest is on my to do list.

292 posted on 06/11/2010 9:31:49 AM PDT by mewzilla (Still voteless in NY-29. Over 250 roll call votes missed and counting...)
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To: A CA Guy

“Who was the economist Mark Belling was quoting during Rush’s show today? About the disaster in 2011?” ~ A CA Guy

Art Laffer. I sent this article out to my email lists days ago:

Excerpt:

In 2010, without any prepayment penalties, people can cash in their Individual Retirement Accounts (IRAs), Keough deferred income accounts and 401(k) deferred income accounts. After paying their taxes, these deferred income accounts can be rolled into Roth IRAs that provide after-tax income to their owners into the future. Given what’s going to happen to tax rates, this conversion seems like a no-brainer. The result will be a crash in tax receipts once the surge is past. If you thought deficits and unemployment have been bad lately, you ain’t seen nothing yet.

WSJ
Tax Hikes and the 2011 Economic Collapse
Today’s corporate profits reflect an income shift into 2010. These profits will tumble next year, preceded most likely by the stock market.
By ARTHUR LAFFER
http://online.wsj.com/article/SB10001424052748704113504575264513748386610.html?mod=googlenews_wsj

People can change the volume, the location and the composition of their income, and they can do so in response to changes in government policies.

It shouldn’t surprise anyone that the nine states without an income tax are growing far faster and attracting more people than are the nine states with the highest income tax rates. People and businesses change the location of income based on incentives.

Likewise, who is gobsmacked when they are told that the two wealthiest Americans­Bill Gates and Warren Buffett­hold the bulk of their wealth in the nontaxed form of unrealized capital gains? The composition of wealth also responds to incentives.

And it’s also simple enough for most people to understand that if the government taxes people who work and pays people not to work, fewer people will work. Incentives matter.

People can also change the timing of when they earn and receive their income in response to government policies. According to a 2004 U.S. Treasury report, “high income taxpayers accelerated the receipt of wages and year-end bonuses from 1993 to 1992­over $15 billion­in order to avoid the effects of the anticipated increase in the top rate from 31% to 39.6%. At the end of 1993, taxpayers shifted wages and bonuses yet again to avoid the increase in Medicare taxes that went into effect beginning 1994.”

Just remember what happened to auto sales when the cash for clunkers program ended. Or how about new housing sales when the $8,000 tax credit ended? It isn’t rocket surgery, as the Ivy League professor said.

On or about Jan. 1, 2011, federal, state and local tax rates are scheduled to rise quite sharply. President George W. Bush’s tax cuts expire on that date, meaning that the highest federal personal income tax rate will go 39.6% from 35%, the highest federal dividend tax rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax rate to 55% from zero.

Lots and lots of other changes will also occur as a result of the sunset provision in the Bush tax cuts.

Tax rates have been and will be raised on income earned from off-shore investments. Payroll taxes are already scheduled to rise in 2013 and the Alternative Minimum Tax (AMT) will be digging deeper and deeper into middle-income taxpayers. And there’s always the celebrated tax increase on Cadillac health care plans. State and local tax rates are also going up in 2011 as they did in 2010. Tax rate increases next year are everywhere.

[laffer]

Now, if people know tax rates will be higher next year than they are this year, what will those people do this year? They will shift production and income out of next year into this year to the extent possible. As a result, income this year has already been inflated above where it otherwise should be and next year, 2011, income will be lower than it otherwise should be.

Also, the prospect of rising prices, higher interest rates and more regulations next year will further entice demand and supply to be shifted from 2011 into 2010. In my view, this shift of income and demand is a major reason that the economy in 2010 has appeared as strong as it has.

When we pass the tax boundary of Jan. 1, 2011, my best guess is that the train goes off the tracks and we get our worst nightmare of a severe “double dip” recession.

In 1981, Ronald Reagan­with bipartisan support­began the first phase in a series of tax cuts passed under the Economic Recovery Tax Act (ERTA), whereby the bulk of the tax cuts didn’t take effect until Jan. 1, 1983. Reagan’s delayed tax cuts were the mirror image of President Barack Obama’s delayed tax rate increases. For 1981 and 1982 people deferred so much economic activity that real GDP was basically flat (i.e., no growth), and the unemployment rate rose to well over 10%.

But at the tax boundary of Jan. 1, 1983 the economy took off like a rocket, with average real growth reaching 7.5% in 1983 and 5.5% in 1984. It has always amazed me how tax cuts don’t work until they take effect. Mr. Obama’s experience with deferred tax rate increases will be the reverse. The economy will collapse in 2011.

Consider corporate profits as a share of GDP. Today, corporate profits as a share of GDP are way too high given the state of the U.S. economy. These high profits reflect the shift in income into 2010 from 2011. These profits will tumble in 2011, preceded most likely by the stock market.

In 2010, without any prepayment penalties, people can cash in their Individual Retirement Accounts (IRAs), Keough deferred income accounts and 401(k) deferred income accounts. After paying their taxes, these deferred income accounts can be rolled into Roth IRAs that provide after-tax income to their owners into the future. Given what’s going to happen to tax rates, this conversion seems like a no-brainer.

The result will be a crash in tax receipts once the surge is past. If you thought deficits and unemployment have been bad lately, you ain’t seen nothing yet.

Mr. Laffer is the chairman of Laffer Associates and co-author of “Return to Prosperity: How America Can Regain Its Economic Superpower Status” (Threshold, 2010).


293 posted on 06/11/2010 9:32:48 AM PDT by Matchett-PI ("If Obama Won, Then Why Won't Democrats Run on His Agenda?" ~ Rush Limbaugh - May 19, 2010)
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To: mewzilla
And an FR thread on Laffer's recent column....

Tax Hikes and the 2011 Economic Collapse (Arthur Laffer in the Wall St. Journal)

294 posted on 06/11/2010 9:33:03 AM PDT by mewzilla (Still voteless in NY-29. Over 250 roll call votes missed and counting...)
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To: mewzilla
And from Heritage...

The Laffer Curve: Past, Present, and FuturePublished on June 1, 2004 by Arthur Laffer

295 posted on 06/11/2010 9:35:05 AM PDT by mewzilla (Still voteless in NY-29. Over 250 roll call votes missed and counting...)
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To: newfreep

Funking Obama is going to support a UN investigation of Isreal over the Hamas boat incident

What an asshole. We have one ally in the Middle East and we’re going to poke them in the eye.

Why doesn’t Obama just invade Isreal and set up another branch of his thugocracy?


296 posted on 06/11/2010 10:38:06 AM PDT by hattend (The era of John McCain is over, the era of Ronald Reagan is back! Go Sarah Go!)
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