{"id":15177,"date":"2012-07-11T17:22:55","date_gmt":"2012-07-11T17:22:55","guid":{"rendered":""},"modified":"2012-07-11T17:22:55","modified_gmt":"2012-07-11T17:22:55","slug":"something_you_may_not_know_about_the_extension_of_the_bush_tax_rates","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2012\/07\/11\/something_you_may_not_know_about_the_extension_of_the_bush_tax_rates\/","title":{"rendered":"Something You May Not Know About the Extension of the Bush Tax Rates"},"content":{"rendered":"

RUSH: On the extension of the Bush tax cuts, there may be something that you don\u2019t know. The popular understanding of Obama extending the Bush tax cuts is that they are for people who make less than $250,000. And most people think that that means if you make $250,000 or more, that you are not going to benefit from the extension of the Bush tax rates.<\/p>\n

By the way, they\u2019ve been in there 11 years.<\/p>\n

<\/a>They\u2019re not “tax cuts” anymore.<\/p>\n

They are the rates. They are the current rates in tax law. To keep calling these things “tax cuts” is really a huge mistake, not only in choice of words, but in fact. We\u2019ve long since passed when they were “tax cuts.” They\u2019re now the law of the land. A little-known fact is — and I don\u2019t know what impact this would have on people if they figured it out, but — everybody will receive a tax cut, even the rich, on the first $250,000 they earn. Everybody will. Obama and the Democrats want people to believe that if you earn $250,000 or more, you don\u2019t benefit from the extension of the rates.<\/p>\n

But you will on the first $250,000 you earn. The first $250,000 you earn will be treated as though that\u2019s all you earn. You\u2019ll get the same extension from the Bush tax rate on those dollars as anybody who makes less than 250. Now, if you make five or ten million, it\u2019s not a whole lot of money from the Bush tax rate applying to your first 250, but it still nevertheless will. So “the rich” will benefit from Obama\u2019s extension. Obama doesn\u2019t want you to know it or want you to think it. And the media probably doesn\u2019t understand it, either. And even if they did they wouldn\u2019t report it because it would not look good for Obama.<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: On the extension of the Bush tax cuts, there may be something that you don\u2019t know. The popular understanding of Obama extending the Bush tax cuts is that they are for people who make less than $250,000. And most people think that that means if you make $250,000 or more, that you are not […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0,"footnotes":""},"categories":[],"tags":[],"class_list":["post-15177","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSomething You May Not Know About the Extension of the Bush Tax Rates - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2012\/07\/11\/something_you_may_not_know_about_the_extension_of_the_bush_tax_rates\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Something You May Not Know About the Extension of the Bush Tax Rates - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: On the extension of the Bush tax cuts, there may be something that you don\u2019t know. 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