The internet wanted $60 for the tool to do it.
I knew there had to be a better way.
The official name for this tool is a 'mandrel bearing puller.'
Step 1: Materials and Tools
1/2" Button head machine screw, at least 1 1/2" long, available at any hardware store
Flat head screwdriver with a somewhat large head and an impact resistant handle (this may get destroyed)
-Hammer (any type, even a rock will do)
-File or belt sander to speed things up
-Hack saw, or band saw to speed things up
-Some sort of clamping device (vice)
-Safety goggles for power tools and hammering
Step 2: Shape the Head
While the drill is spinning, use the belt sander or file to shape the head until it just fits through the inside of the bearing . Profile it to have a narrow edge, like an umbrella. The edge allows the tool to fit into the chamfer (space between the bearing and spacer) to grip the bearing.
Step 3: Cut
I used a horizontal bandsaw, but a hacksaw and some elbow grease should do the trick.
Bend the two sides away from each other just SLIGHTLY by pressing the screw driver into the slot.