{"id":37061,"date":"2010-12-13T01:01:01","date_gmt":"2011-05-19T00:15:20","guid":{"rendered":""},"modified":"2011-05-19T00:15:20","modified_gmt":"2011-05-19T00:15:20","slug":"payroll_tax_cut_and_social_security","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2010\/12\/13\/payroll_tax_cut_and_social_security\/","title":{"rendered":"Payroll Tax Cut and Social Security"},"content":{"rendered":"
\n

RUSH: Here\u2019s Richard in Arlington, Texas. Richard, it\u2019s great to have you on the EIB Network. Hello, sir. <\/p>\n

CALLER: Thank you. Thank you, Rush. <\/p>\n

RUSH: You bet. <\/p>\n

CALLER: I\u2019ve been listening to you for a couple of decades and I\u2019ve enjoyed it.<\/p>\n

RUSH: Thank you very much, sir. Appreciate that. <\/p>\n

CALLER: This tax proposal that\u2019s being considered, they were talking about a 2% pass on Social Security. That\u2019s going to really have a negative effect on people who are, say, about 60 and above who are approaching the time when they are going to be looking at the Social Security benefits. <\/p>\n

RUSH: Are you assuming that the 2% payroll tax cut for one year will result in less benefits to recipients? <\/p>\n

CALLER: Yes, it will. Because when you go in to sign up for your benefits, they will look at your payments, payments that have been made on your behalf and it\u2019s like an annuity. <\/p>\n

RUSH: Is that right? <\/p>\n

CALLER: The more you pay in, the more you get out. <\/p>\n

RUSH: I did not think that they would be that petty. <\/p>\n

CALLER: Oh, yeah. It\u2019s in the rules. It used to be the more you paid in, the more you get. And it was the most that you paid over a, like an eight-quarter deal. Over, you know, the highest couple of years. And then recently, under these last couple of administrations, they — <\/p>\n

RUSH: If you\u2019re right — <\/p>\n

CALLER: — make it over the last five years. <\/p>\n

RUSH: If you\u2019re right, this is a great point, though. This is going to save the federal government billions. <\/p>\n

CALLER: (garbled) myself. <\/p>\n

RUSH: Well, I mean, because they get to do a double whammy here. They get to reduce people\u2019s taxes and then when those people retire, ‘Oh, guess what? You remember that tax cut you got 20 years ago? Well, your benefits are going to be reduced by 2%.\u2019<\/p>\n

CALLER: It\u2019ll be $400 a year for a couple of decades. <\/p>\n

RUSH: Yeah. <\/p>\n

CALLER: So you get $400 a year break this year and it\u2019s going to cost you $10,000 over your retired years. <\/p>\n

RUSH: That\u2019s right. If you\u2019re depending on them, that\u2019s absolutely true. I\u2019m going to look into this. We\u2019ve got to find this out. I\u2019m going to find this out because for one it\u2019s fascinating. It\u2019s interesting to me. If this 2% cut for one year will actually result in a reduced benefit payment for everybody who gets the cut. <\/p>\n

CALLER: For everybody who gets a cut who qualifies, who goes in to put in for Social Security in the next five years. <\/p>\n

RUSH: Yeah. <\/p>\n

CALLER: People who are 60 and 61 to 65, that kind of thing. <\/p>\n

RUSH: Yeah, yeah.<\/p>\n

CALLER: And so it\u2019s those folks that have been paying into Social Security for 45 years thinking that, ‘Hey, I\u2019m going to get a check.\u2019 They used to send us a statement that said, ‘You\u2019re going to get like $3,000 a month because you\u2019ve been paying in a lot,\u2019 and then they sent a note saying, ‘Weeeeeell, we\u2019re going to pay a couple of thousand dollars a year because we\u2019re only going to use the last couple of years.\u2019 <\/p>\n

RUSH: Right. What\u2019s your favorite football team, Richard? The Cowboys? <\/p>\n

CALLER: (laughs) Used to be.<\/p>\n

RUSH: (laughing)<\/p>\n

CALLER: I\u2019m looking for one. <\/p>\n

RUSH: (laughing)<\/p>\n

CALLER: Maybe that Tony guy could suggest somebody. You know what? I think maybe you could have him as a, as a guest host and then he could look behind the curtain and see what the powers of the leverage are. <\/p>\n

RUSH: No, that wouldn\u2019t tell him —<\/p>\n

CALLER: Maybe he could speak a little, you know?<\/p>\n

Rush: No. He might be a good host but that wouldn\u2019t tell him what I couldn\u2019t tell him. He wouldn\u2019t learn that simply by being a host. He might learn other things but he wouldn\u2019t learn that. Anyway, Richard, thanks for the call. I appreciate it.<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Here\u2019s Richard in Arlington, Texas. Richard, it\u2019s great to have you on the EIB Network. Hello, sir. CALLER: Thank you. Thank you, Rush. RUSH: You bet. CALLER: I\u2019ve been listening to you for a couple of decades and I\u2019ve enjoyed it. RUSH: Thank you very much, sir. Appreciate that. CALLER: This tax proposal that\u2019s […]<\/p>\n","protected":false},"author":25,"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},"categories":[],"tags":[],"yoast_head":"\nPayroll Tax Cut and Social Security - 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:\/\/live-rush-limbaugh.pantheonsite.io\/daily\/2010\/12\/13\/payroll_tax_cut_and_social_security\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Payroll Tax Cut and Social Security - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Here\u2019s Richard in Arlington, Texas. Richard, it\u2019s great to have you on the EIB Network. Hello, sir. CALLER: Thank you. Thank you, Rush. RUSH: You bet. CALLER: I\u2019ve been listening to you for a couple of decades and I\u2019ve enjoyed it. RUSH: Thank you very much, sir. Appreciate that. 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