Yes, Rush Limbaugh has left the world of reality into a fantasy world of his own making. In that, he is similar to leftist Democrats (see previous entries on Senator Schumer, and upcoming entry on Senator Brown). Are not you people reading this blog lucky to have me giving you rational analysis?
What is Rush Limbaugh saying today? He is saying that this bailout plan represents a nationalization of the credit martets (true), and has nothing to do with conservatism (true: as I have said, it is a betrayal of conservatism). However, this is where Rush goes off the deep end into his own fantasies.
Limbaugh went on to say today that it is time to "try conservatism" (which I have said in the last two days, but without the fantasies and accepting the risk involved). Limbaugh's fantasy of "trying conservatism" is to forget the 700 billion dollar bailout, and instead "temporarily" eliminate the capital gains tax and corporate tax (encouraging, by the way, "smart guy" manipulation to make everyone a corporation and turn ordinary income into capital gains). Limbaugh's idea is that this will produce much more than 700 billion for Wall Street, and all of the rest of us (comparing, again by the way, apples and oranges). This represents multiple fantasies in Limaugh's brain (really ordinarily a first class brain except when it enters the world of fantasy), and they are not useful fantasies.
In case Limbaugh has not noticed (as I have), the risk here is that leftist Democrats are going to use extortion to get an even more complete Federal takeover of our economy, with plans to extend their socialistic type agenda from there. There is no chance that we are gong to get major tax cuts now. It is a fantasy not worth discussing, and even counterproductive.
More than that, "temporary" tax cuts are dishonest and stupid, and Limbaugh knows it. As with the Bush tax cuts, which should never have been "temporary", Limbaugh would then call it a tax "increase" to ever consider letting the "temporary" tax cuts expire. "Temporary tax cuts merely complicate the tax code and tax policy, and provide uncertainty to business and the market. They are a mistake born of the leftist idea that you can accomplish by deceit what you can't accomplish directly. Leftists tend to have a better chance of getting away with that sort of thing, because of their media sycophants and the inherent deception in their "philosophy" in the first place (being more slogans and "emotioin" than logic). For conservatives, promoting fantasy is a losing game.
We are not going to eliminate the capital gains rate or corporate tax. We will do well to even keep the Bush tax cuts, which should have been permanent in the first place. The "temporary" nature of those tax cuts has already introduced substantial uncertainty into financial planning--the exact opposite of what a rational tax code should do.
Now I understand that Rush may be playing the leftist Democrat game of pushing for the most extreme things you can think of, so that the things you really want seem "moderate". With leftists, however, it seems a matter of forgetting the "game" part. They now actually want every extreme thing they can think of. As stated, they seemingly can get away with living in a fantasy world. rush Limbaugh cannot. Conservatives cannot.
There are things that can be done in place of this bailout. Those things do not include an elimination of the cpital gains tax or corporate income tax. Those things are merely part of Rush Limbaugh's fantasy life, along with those nights with Angelina Jolie.
Okay. I confess, That last part was my fantasy life intruding into this entry. I will try to avoid such "leakage" of my fantasy life into this blog in the future.
P.S. I do favor tax cuts back to the Reagan levels, but I live in the real world--Angelina Jolie aside.
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