Related Story New York introduces 88 new taxes, fees

GLENN: Yes, it's the most socialist time of the year and things are just going to get fantastic. These clowns don't have any idea. You know, I was talking to my wife this morning and I said these financial experts, all of these government agencies, these governments around the world, the central bank, everybody else so discrediting themselves with anyone who's paying attention that it's amazing to me that they just don't think somebody is going to wheel up some guillotines at some point. I mean, the arrogance of these guys. Now you have the prime minister of Canada saying that a Depression is a possibility in Canada. You know, he's hoping that it's not going to happen but there's a possibility that a Depression is happening. You've got now the Fed cutting rates yet again. Even I know you can't cut rates at this point. You can't do it. You are going to have to print more money and if we don't have a money problem. We have a trust problem on the planet. And now there's a story today. They come out and they cut the rates yesterday. There's a story that came out today that just says, "Hey, the dollar as a safe haven for the rest of the world, those days are over" because now with the rate cut from the Fed, nobody wants to put their money in dollars anymore. Gee, nobody wants to put their money in dollars anymore? Hmmm, what's that going to do? Gee, when people don't want to buy treasuries anymore, hmmm, how are we going to borrow all of the money for all of these bailouts? Gee, who's going to give it to us? Well, New York has an idea where we can get the money. They have got new taxes. $15.4 billion budget gap now. They are trying to close it. Paterson, who is the stereotypical blind leading the blind, he's actually literally blind, he may be the only one with any kind of vision in the government. Paterson has been calling for budget cuts. The people in New York, they're not really interested in budget cuts. Oh, they've cut the budget some, but they're still 1% larger than they were last year. May I just ask if there's any common sense left on this planet? How can you be 1%, spending 1% more than last year when your state has wild out-of-control unemployment with the high end wage earners? But they won't listen to him about cutting it even more. Instead they are going to raise taxes. They are going to raise a host of taxes now including an iPod tax that taxes the sales of downloads on music and other digitally delivered entertainment services. There's some extreme measures here. That's what Paterson says. There are no broad-based income tax increases, but they do have some smaller taxes on movie tickets, taxi rides, soda, beer, wine, cigars. Massages are also going to be taxed. It also extends sales tax to cable and satellite TV services and removes the tax exemption from clothes costing $110,000.

Now, here's the interesting part. The Democrats are saying that they are nickel and diming working class families and the speaker of the assembly in New York says that they need to go and they need to go after the wealthy. What wealthy are left in New York City? I mean, the wealthy in New York City were the ones that were working in the hedge funds which, by the way, we told you yesterday are collapsing. Wall Street, that's collapsed. Here's what the Democrats say: We will be fighting this tooth and nail. We think it's irresponsible to make this level of cuts and no ask for the wealthiest New Yorkers to help ease the pain. This level of cut? You're still paying 1% more! You're still expanding your budget. Paterson didn't rule out income tax increases but said spending cuts are a priority. You think so? He defended the fee in sales tax increases. He said they would be less harmful to the state's economy. He said if you -- listen to this. This is a Democrat speaking: If you start taxing at times when revenues are receding, you'll drive job creators out of the state.

So gang, here's the good news, I guess. New York is raising taxes and there's more taxes to come. A lot of businesses are located right in New York City. Texas, Florida, any other state that doesn't have a state income tax, oh, make room; the moving trucks will be coming from up north.

It's really, it's truly amazing to me. I did an interview yesterday with Newsweek magazine and they're doing a story on how, you know, Fox is going to be dead and nobody's going to watch Fox because the world has changed and Obama is now the king of the universe and, you know, obviously capitalism has been discredited and conservatives are all dead and withering away and blah, blah blah, blah blah. And so I did this interview with them and I said, you know what, I'm a common sense person, I'm not a Republican, I'm not the leader of the opposition for Barack Obama. For the love of Pete, the guy's got to succeed. I just hope that he does it with some common sense. I'm not going to sell out my values, I said, but how can you call me a Republican when I've been bashing Bush for how long. I'm sick of both of these parties. What people don't understand is we've got to get out of these little cartoon characters that everybody has created, and I've been part of it. I mean, you know, I'm not going to give up bashing Michael Moore because that guy's just a full-fledged socialist nut job, but I will tell you this: I think it's important that we don't call people socialists or communists unless they are. Sean Penn is a communist. Sean Penn is for full-fledged fascism. He hugs, practically licks the face of Chavez, points out how good he is for the people overall. That guy's a communist. And I know that doesn't mean anything to anybody but, you know, I kind of, I'm just kind of against the whole fascism thing. Call me crazy. I know, I'm old time. That's kind of the way I roll, you know. I don't like dictators. It's just the way I am. What a hate monger. "What have you got against dictators now, Beck?"

But most people in America, they just don't even understand it anymore, and I believe that's by design. I mean, that's what we've been teaching in schools. We've been teaching that communism is okay, socialism is okay. Socialism isn't a stepping stone. That's just another great step in a Great Society. No, it's slavery. That's what it is. It's slavery.