Rush Limbaugh

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RUSH: I don’t mean to harp on the subject of college tuition, but CNNMoney.com is reporting this: The number of colleges and universities with tuition and fees totaling more than $50,000 for a single year rose to 123 for the 2011-2012 year — up from 100 institutions in the previous year.” So 23 new colleges where it cost 50 grand minimum for a single year. Now, they point out in the story that this is more than the average United States salary. Do you know that if you earn $50,000 a year or more, you are in the upper 10% of wage earners in America? I love telling people that statistic. They don’t believe it, and it sort of puts this…

Do you know what it takes to be in the top 1%? Take a stab. What is it? Top 10%: $50,000 a year or more you are in the top 10% of wage earners. Take a stab at the floor, the minimum income that qualifies to be in the top 1%. Brian, what do you think it is? (interruption) You’re close. He said, “$500,000.” It’s $343,000 a year. If you make $343,000 a year, you are in the top 1%. Now, I know. I can hear members of the New Castrati, “Mr. Limbaugh! Mr. Limbaugh! That is just silly, that’s just crazy! Everybody knows that the top 1% is the millionaires and the billionaires and the Fortune 500!” No, no, no, no. The top 1% starts at 343,000. There aren’t that many people in it. This is the whole point.

Those of you who oppose everything Obama’s talking about, oppose everything these Wall Street protesters say — this 1% myth is that it’s all millionaires and billionaires and that there are tons of them and that the income gap is widening. That may well be, but it’s not because of capitalism. It’s not because of the unfairness of anything. It’s because of government. It’s because the Democrat Party’s created so many dependent, helpless people who do not know (and some of them don’t care) about being upwardly mobile. The opportunities are still there, even with this guy running the show. So stop and think about that. There are 123 institutions of higher learning where it costs more than the average annual American salary to attend the place.

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