On his nationally syndicated radio talk show Thursday, host Mark Levin slammed the GOP for “embracing” Obamacare and declared that “We now have two political parties that have abandoned capitalism.”

“We now have two political parties that have abandoned capitalism,” said Mark Levin. “I’m so sick of hearing these people say it’s a first good step. No, a good first step is unraveling Obamacare, not embracing it.”

Levin’s comments come after the senate GOP released their draft version of a health care bill meant to reform Obamacare, which, Levin says, only four senators, including Senator Rand Paul, reject.

Below is a transcript of Levin’s remarks from his Thursday show:

“Well, let me ask you a question. I think I say that a lot, don’t I?

“Well, let me ask you a question. Do you think our entire health care system should be based on what happens to Medicaid?

“Medicaid is a welfare program. Medicaid was started in 1966, as I recall. 25 cents of every dollar in a state budget, in your state budget goes to Medicaid, and that’s matched by federal dollars. So, you’re paying at the state and federal level.

“You’re paying taxes to subsidize people who are on Medicaid, some of whom are poor, some of whom are on Medicaid because the government allows them to be on Medicaid.

“And under Obamacare, if you’re not poor, you can be on Medicaid too. If you’re over 100 percent above the poverty level, you qualify for Medicaid. So it’s a massive redistribution of wealth.

“Now as a people we agree to do some of that. Most of it’s out of our control, but we agree to do some of that because we don’t want people ‘dying in the streets,’ and there’s no reason anyone in this country would be dying in the streets.

“We’ve spent trillions and trillions and trillions of dollars on Medicaid. It’s welfare. That’s what it is. It’s welfare. It’s welfare like food stamps is welfare.

“So why would we center our health care system on a welfare program?

“The Democrats are running around saying the Republican proposal would cut Medicaid. They’re not running around saying, ‘Keep Obamacare because it will lower your premiums, lower deductibles, increase choices, increase the quality of your health care,’ are they?

“On the other hands, the Republicans aren’t really cutting Medicaid. Because they plan to do it many, many, many years from now, you see – many, many, many years from now – which means it will never happen. They may not even have control of Congress.

“Plus, what do we mean by cuts? What they mean by cuts, ladies and gentlemen, is essentially going back to where we were before Obamacare. Is that a cut?

“And all the people in the meantime, who get on the welfare rolls of Medicaid, stay on those rolls for the rest of their lives if they continue to meet the qualifications that existed under Obamacare. ‘That’s the great cut that they’re talking about. Oh, what a cut. Oh, my God!’

“No cut. It’s a joke!

“It’s never even going to happen.

“So once again, it’s like the Georgia sixth or whatever it is. We get caught up in these lies and these debates that have absolutely no real world, you know, rationality to them. Yet the consequences are grave.

“We now have two politically parties that have abandoned capitalism.

“I’m so sick of hearing these people say it’s a good first step. No, a good first step is unraveling Obamacare, not embracing it.

“A good first step – I love, ‘Oh, you know, Reagan used to say if you can get 50 percent, we’ll get the other 50 percent later.’ Yes! But he didn’t say surrender 100 percent.

“Here we have a massive new entitlement program, passed in 2010 when the Democrats controlled the House and the Senate. They didn’t get a single Republican vote, and today it get votes in the House of Representatives and all but four Republican senators are lined up behind this – Obamacare. That’s what it is, even though that fool, Obama, put out a Facebook post.

“The Democrats are laughing. They’re saying, ‘We can trash the Republicans, while at the same time, they’re enshrining Obamacare.’

“And then you have clowns on TV and radio, who pretend that they’re conservative, telling you that this is swell. ‘It’s a good first step.’

“It’s a good first step if you’re into cliffs.”