Jealous liberal journalists who long to be richer than Rush Limbaugh have been falling all over themselves to criticize their conservative nemesis and the undisputed champion of talk radio the past couple of days.
Why? Because he just negotiated a contract renewal with Premiere Radio Networks, a subsidiary of Clear Channel Radio, that reportedly will net him $400 million over eight years, including a nine-figure signing bonus.
Why that’s a problem is beyond me. If Premiere didn’t think Limbaugh was worth it based on past performance, the company wouldn’t have made the deal. It’s the free market at work, and every liberal who is whining about the deal would take all that money and then some if offered it for doing their jobs.
Besides, every liberal should be celebrating the rush of taxes that will flow into government coffers thanks to Limbaugh.
The numbers are staggering any way you look at it. I asked Peter Sepp, vice president for policy and communications at the National Taxpayers Union, to guesstimate Limbaugh’s tax bite from his new contract. With the obvious caveat that “there are a whole lot of variables both in the structure of his compensation package and the strategies he employs that would affect the actual tax burden,” Sepp predicted that Limbaugh will pay anywhere from one-third to 40 percent of his compensation to the government in taxes.
I’ll do the math for you: That’s $132 million to $160 million in taxes! And Sepp said the bite would be far worse if Limbaugh lived somewhere other than Florida, which has no state income tax and light business taxes. If he lived in California, the Golden Treasury State, he would have added up to 10 percent more ($40 million) to the tax tab.
That’s not counting all of the sales, property, gas and other taxes Limbaugh will be paying every time he spends a million dimes. And his penchant for cigars and other “sins” means he’ll be on the hook for even more.
Here’s the way all the liberals in the media and government should be looking at Limbaugh’s contract: He’s a one-man economic stimulus machine. Just imagine how many more pork projects will be funded over the next eight years because Rush Limbaugh got a hefty raise.