Rush Limbaugh Quotes Carpe Diem: "Buying Foreign Oil is An Exchange of Wealth, NOT A Transfer"
This CD post (about T. Boone Pickens' rantings about oil and the "biggest transfer of wealth in history") was read today in its entirety on the Rush Limbaugh radio show (transcript here).
Limbaugh comments: T. Boone, he knows better than this. He knows this is not a transfer of wealth. A transfer of wealth is taxing producers, taking it away from them and giving it to non-producers. Transfers of wealth are things like the estate tax when the money you take from somebody doesn't redound to them in any way, shape, manner, or form. But this purchase of oil every year from foreign sources is not a transfer of wealth. It is an exchange of wealth.