Conservative radio host Rush Limbaugh was beside himself on Friday after hearing the richest man in China endorse what the host claimed was “Reaganomics.”
Jack Ma, the founder of multibillion dollar company Alibaba, became the richest man in China after a ridiculously successful public offering on the New York Stock Exchange. The stock finished trading at $93.89 a share, leaving the company with a $231.4 billion valuation, a number even larger than Facebook. Ma has a roughly $18 billion stake in the company and made $867 million selling shares.
Limbaugh was seemingly fascinated by Ma's "rags to riches" story as he said people only get very rich in China when they are "allowed to" by the Chinese government. He said Ma's story sounds more like an "American story" -- but Americans aren't even talking like that anymore.
"Everybody is trying to lower our expectations," Limbaugh said of the United States.
Jack Ma, second left, founder of Alibaba, raises a ceremonial mallet before striking a bell during the company's IPO at the New York Stock Exchange, Friday, Sept. 19, 2014 in New York. The stock is expected to start trading Friday under the ticker "BABA." (AP Photo/Mark Lennihan)
In a recent interview, Ma talked about how it’s his job to make money and help other people make money.
“After I’m a 50 years old, which is today 50 years old, I will spending money trying to making sure more people get rich, because you cannot spend all the money, right? So, my job is spending money, helping others,” he said.
“This is unreal! We have a ChiCom guy talking about the benefits, the fun, the happiness, the worthwhile of getting rich — and in this country, what’s going on?” Limbaugh responded. “The rich are hated and despised. Well, except for Zuckerberg and Buffett and Gates, and the Kennedys. Everywhere else the rich are despised. They’re suspects. They’re accused offing be criminals. And here’s this guy, Jack Ma, talking about Reaganomics!”
Limbaugh argued that Ma, whether he knew it or not, described “trickle-down” economics.
“I guarantee you, when he says help people get rich, he doesn’t mean welfare. When he says he gonna spend money to make people rich, it means he’s gonna hire them, and he’s gonna build up businesses where they work so that their productivity will lead to raises and maybe good careers,” Limbaugh added.
The radio host expressed his frustration that a Chinese businessman is preaching a pro-capitalist message while “the exact opposite kind of talk is occurring in this country.”
“Wake up,” he said. “Well, you people are awake. But I mean we’ve got gazillions of people in a daze, just asleep. Maybe in a way you can’t blame ‘em. They’re pounded every day. They’re literally hit over the head every day about how rotten it is in this country and how there is no future.”
Listen to the segment via the Daily Rushbo: