The left-wing money machine exposed

This is a rush transcript from "Hannity," June 11, 2012. This copy may not be in its final form and may be updated.

SEAN HANNITY, HOST: A stunning new investigation takes us inside the left wing money machine and exposes how a small group of liberals attempted to hijack the American political system.

Now in David Horowitz's newest book, "The New Leviathan, How the Left Wing Money Machine Shapes American Politics and Threatens America's Future," he uncovers how these individuals and their organizations have taken advantage of the tax loopholes in order to acquire over $100 billion in assets that they then use to implement the radical agenda.

With just a few months until the election, this is an investigation we cannot afford to ignore. Joining me now with much more is the book's author, our good friend, David Horowitz. How are you?


HANNITY: Thank you very much. You know, Karl Rove said read this and be afraid.

HOROWITZ: Yes. This is the permanent left-wing juggernaut. It's what operates between elections. People are very focused on elections. In elections, the parties are fairly even in the money they can raise.

But there is nothing on the right comparable to what the left has in the $100 billion worth of foundations. Just to give you an idea. One left-wing foundation, Bill and Melinda Gates Foundation is three times as large as all 75 --

HANNITY: That is charitable.

HOROWITZ: Well, it's charitable. They are all technically charitable, but there is what I call the shadow political universe. All the debates that we have whether it's over the borders, whether it's over the national security or whether it's over the environment, nationalized health care, all of these take place, the arguers on either side of these are 501 C3s, they're tax exempt.

What they are doing is very political. It sets the political agenda. It transformed debate for example on immigration from whether legal citizens from Mexico should have equal rights to -- should we call people here illegally -- undocumented.

HANNITY: People have to read the whole book. There is too much information. I want really to cut to the chase. This is really an important piece of work you that put out and it's extraordinarily well researched.

You talk about George Soros in the book. You talk about the seed money that he gave to, for example, John Podesta's group, the Center for American Politics.

HOROWITZ: The brain trust of the Democratic Party.

HANNITY: Which is the brain trust -- you talk about Media Matters in here. A lot of the groups are supposed to be 501-C3s. I don't know what the case is in either of those two that I mentioned.

HOROWITZ: Yes, they are.

HANNITY: Walk us through the money and how it's impacting the political debate and actually in the financial arm and propaganda arm of the Democratic Party.

HOROWITZ: Well, you wouldn't have Obamacare. After all national universal health care was defeated in the Clinton administration, all the Democratic candidates in 2000. Al Gore said he was against it. John Kerry said in 2004 that they were against it.

Yet, it became the center piece of the Obama administration, which he turned his back on the economic crisis instead of focusing on jobs. Suddenly we have this gigantic spending program. Where did that come from? Was that a grass root swell, we need Canada's health care system? No. It was, this, what we call the new leviathan, this network of gigantic foundations that are permanently there and accountable to no one.

HANNITY: How much money are we talking about? How much influence do you think unbeknownst to the average American they're having on the election and the electoral system because, the details will be in the book.

HOROWITZ: Hundreds of millions of dollars.

HANNITY: Billions of dollars. Billions with a "b"?

HOROWITZ: Billions, but hundreds of millions for a specific issue. They're affecting the election. Here is the way, you know, to get in to my hotel room I have to show an ID, but I can walk in a polling place and claim to be Eric Holder as Dan O'Keeffe did, and they'll register me and I can vote.

Why is that? Because the left-wing foundations like Ford and all, Rockefeller, Carnegie, Tides, MacArthur, they created an army of left-wing lawyers that go in and say this is racism, they file suit. Now you go in a polling place and offer to show your ID. They don't want to see it.

HANNITY: That's what's happening in Florida right now.

We are only touching the surface, but it gives chapter, verse and detail.

HOROWITZ: And all the foundation are listed, all their assets. The money they put in environment and the history of these issues and how they were taken from the political extreme, the marginal left and put right in the center.

HANNITY: It's become part of the mainstream and narrative, and they are advancing it.

David, great book as always. I think one of your best. So appreciate you being with us.

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