Rush Limbaugh Claims Extending the Bush Tax Cuts Does Nothing for the Rich

On his radio show today, Rush Limbaugh actually argued that the rich did not benefit from the compromise to extend the Bush tax cuts. Limbaugh claimed that the government never gives the rich anything, and, “the only giveaway is welfare. The only giveaway is our social programs. The rich are not given anything by our government.”

Here is the audio courtesy of Media Matters:

After playing a clip of Nancy Pelosi discussing how the middle class were held hostage because the Republicans demanded additional tax cuts for the rich, Limbaugh said, “What she’s claiming happened didn’t happen. Nothing was done for the rich. It all depends on the baseline. It all depends on how the table was set. If you lived all year thinking the rich are going to get a tax increase because Obama wanted to raise taxes on the rich. He wanted to let these tax cuts expire. If you’re a liberal Democrat, and you want to soak these people by raising their taxes, and you believe your party’s gonna do that by letting these tax rates expire, and then all of the sudden your own party comes along and says nope, we gotta keep these tax cuts the same so as not to hurt the economy.”

A little later Limbaugh went on to claim that the rich never get anything from that the government, “There’s no giveaway to the rich. There’s no giveaway period. The only giveaway is welfare. The only giveaway is our social program. The rich are not given anything by government. Well, other than the CEOs who have a back scratch deal with Obama, but I mean in the terms you and I are talking about, the rich are not made rich because the government gives them money.”

Limbaugh’s spin is wildly inaccurate. Extending the Bush tax cuts benefits the wealthy more than anyone else. As the MoneyBlog explained, “There’s something for everyone in the Bush tax cut deal. But the benefits are skewed toward the rich. The payroll tax holiday takes two percentage points off the current 6.2 percent taken out of paychecks. Someone making $100,000 would get a tax cut ten times bigger than someone making $10,000. Census data shows the average U.S. family earns about $52,000 a year. A Bush tax cut extension will save these households $1,180 on average in 2011-about 2.3 percent of income. Families earning from $200,000 to $500,000 would save about $7,500. Taxpayers making $1 million and more, about $129,000 — nearly 6.2 percent of income.”

The original Bush tax cuts are based on trickledown economics and were designed to benefit the rich more than anyone else. The tax cut for the rich is three times larger than the one for the middle class. Rush Limbaugh makes $33 million a year in salary. Of course, Limbaugh is going to defend the Bush tax cut. He stands to pocket an additional $4, 257,000 in each of the next two years.

As far as Limbaugh’s claim that the rich never get anything from the government, here are just a few numbers from 2008, before the great economic collapse and the government bailout. In an average year, the wealthy get $100 billion in corporate welfare, $500 billion in Social Security payments that they don’t need, $100 billion in corporate bailouts, and $500 in interest from the Federal Reserve on bonds. The total amount of federal and state spending on welfare programs averaged $400 billion a year, but has grown to $600 billion during the current recession.

To put it in context, the rich get $100 billion more in Social Security payments than the federal and state budgets for welfare programs combined. Even with demand for assistance at its current high, it is only $100 billion more than Social Security payments to the rich. Contrary to what Limbaugh said, the rich actually take more of a handout from the government than the poor, but conservatives and Republicans keep their dirty little secret close to their vests, less the American people find out who is really bleeding them dry.

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11 Replies to “Rush Limbaugh Claims Extending the Bush Tax Cuts Does Nothing for the Rich”

  1. Now that the rich have most of the nation’s wealth, the right’s meme is that the rich earned all of their money and any tax is a taking by the government. Tax cuts mean people get to keep their own money. They refuse to acknowledge any duty to support common benefits. This creates cognitive dissonance when juxtaposed with their support of the military, but GOP and cognitive dissonance are longtime companions.

  2. Oh, you want follow up? That’s why the right only does one way talking points. No questions, no interviews, no problem.

  3. Good grief. Totally apart from any EEEEEEEEEEEEEEEEEVIL “social welfare” programs, the rich get the benefit of all the other goodies our taxes support: FDA, FAA, highways, CDC, post office, armed forces, FERC, national parks, and on and on and on. I can’t imagine any of the people who lap up Limbaugh’s spew would last very long in a nation as devoid of common benefit structures as the Galt brigade claim they want.

  4. Liberal babies cryin’ wah-wah-wah again! So typical!

    Explain to me what exactly is wrong with what Rush said!

    His basic point is that the rich doesn’t benefit from Obama’s extension of Bush tax cuts. Well DUH!! This is the “Mr Obvious” moment of the century and you sad liberals can’t even see it.

    The Bush tax cuts already gave away millions to the rich! Obama is simply extending the runaway giveaway.

    The uber rich in this country are not getting anything they didn’t already get.

    Once again, Rush is right and dumb liberal crybabies are WRONG!

  5. In a way Limbaugh is right. The tax cuts won’t change how they go through their day, they won’t be able to finally afford that 8th Ferrari. The sad thing is that these ivory tower jackholes have no concept of the difficulties faced by a huge number of Americans who have lost their jobs, houses, everything and unemployment benefits were the only thing keeping them even remotely functional.

    It is actually revolting to think about the ridiculous life of excess Limbaugh enjoys for his lies while real Americans are barely surviving and some aren’t even doing that.

  6. Rush Limbaugh has always been a disgusting excuse for a human being, but this comment takes the cake for its gross insensitivity to those among us who are struggling. If he trulydoesn’t think the rich got anything from this deal, at what point DOES he think they’ve gotten enough benefits? It’s also a sad commentary that many Americans who don’t benefit at all from this legislation agree that the rich deserve every benefit given to them. That’s based on the fallacy that all the rich earned their wealth, as opposed to inheriting it. It’s both disturbing and embarrassing that anyone in this country could see nothing wrong with the huge military expenditures and giveaways to the wealthy, while the unemployed and people trying to get by on Social Security are struggling to make ends meet.

  7. “Well, other than the CEOs who have a back scratch deal with Obama, ”

    He fails to mention the entire republican party as well. But thats no surprise.

  8. “Explain to me what exactly is wrong with what Rush said!”

    Can you read and comprehend what you read?

    Jason presented a position and defended it with facts and links.

    You state: “His basic point is that the rich doesn’t benefit from Obama’s extension of Bush tax cuts.”

    The fact is that Limbaugh stands to receive “an additional $4, 257,000 in each of the next two years.” The only way your cited statement above would be true would be if Limbaugh wasn’t going to be able to keep the $4, 257,000 in each of the next two years, but he will keep it.

    Based on your comment, he would get nothing. Jason has proven your assertion to be inaccurate.

    If what you mean is that the rich don’t NEED the extra money because they could live well without it, that is exactly what many democrats and President Obama have been saying all along!

    If you’re going to come here and dispute well-researched information because you don’t like what it says, you need to go to RedState, Drudge, Blaze, or some other rw site because it seems that you’re searching not for facts, but for confirmation of your version of reality.

    Psst! I’ll let you in on a little secret. Limbaugh has as much use for you as he does for me, and that’s none.

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