Trying to remove rear shackles - can't pull bolt out!

I trying to remove my rear shackles, but the lower bolt on my shackle will not pull out. The top pulls out just fine, the left side of the shackle remains in place because the lower bolt seems to be stuck in the inside bushing. I've tried and tried prying it out with with a 3' pry bar. I actually had to secure my leaf pack to the other leaf pack with a come-a-long because I was prying so hard that my driver's side leaf pack was being pulled out of alignment. I also tried hitting it with a 3lb hammer with not a budge. I also tried jamming two nuts on the bolt to try and torque it out of the bushing...no go. What the hell is this thing holding onto?!

 

Soak it with pb blaster? Otherwise you may have to heat it up to get it out and buy a new bushing. Does it move at all?

 

Liquid wrench wouldn't work so...

I wedged my prybar in the shackle against the frame and hitch frame and tightened up the come along so their was a lot of tension on the bushing. Then I took a plumbers torch to the bolt until the heat cause the rubber to rip. Shackle is out, but I still have a shit load of rubber to remove from the spring eye. Gonna measure it tomorrow and pick up a spade bit for my drill to clean that shit outa there and hopefully I can get the other side done lickity split!