Biden’s Criminally Fuzzy Tax Math
Issues & Insights,
by
The Editorial Board
Original Article
Posted By: RockyTCB,
3/11/2024 6:05:22 AM
At one point during his State of the Union speech, President Joe Biden ranted about how billionaires don’t pay enough in taxes and asked the public to envision all the great things that we could do if the super-rich “paid their fair share.”
In doing so, he took lying with statistics to a new, otherworldly level.
Here’s what Biden said:
THE PRESIDENT: You know, there are 1,000 billionaires in America. You know what the average federal tax is for those billionaires?
AUDIENCE MEMBER: Zero!
THE PRESIDENT: No.
They’re making great sacrifices — 8.2%.
AUDIENCE: Booo
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Reply 1 - Posted by:
jeffkinnh 3/11/2024 6:59:49 AM (No. 1675062)
Very helpful article. Biden's math is not fuzzy, it's propaganda lies.
Further, this exposes a more difficult concept to understand. Money in the hands of the wealthy is plowed back into the economy, and when it earns more, is plowed back into the economy again, ... Why? Because the wealthy want to make more money and the only way to do that is to keep investing in the economy.
In addition, when the wealthy make money on their investments, it is only a portion of the earnings of the investment. The rest of the earnings are distributed to numerous other people, including many, many workers that are used to pay their bills including all the good things Biden claims he wants to accomplish, OR reinvested to grow the company, spinning off more earning for everyone involved. Believe it or not, investing in the economy is a perpetual motion machine.
If you have the government steal the money, it is used ONCE to provide benefits as Biden describes, and then is gone. The next go round requires more money to be stolen from taxpayers, FOR THE SOLE PURPOSE of buying votes for the dems. The biggest downside is that the money is NOT available to keep the economy humming. Lots of peoples jobs go away. There is no expansion of business. Without investments, some businesses may hit a tipping point and go out of business.
Biden is a senile, lying fool. He has always been a lying fool.
21 people like this.
Reply 2 - Posted by:
coyote 3/11/2024 7:40:31 AM (No. 1675076)
The rich don't pay enough tax...that has been a tease for about five thousand years. Is there anyone that doesn't know this?
5 people like this.
Reply 3 - Posted by:
skacmar 3/11/2024 8:18:35 AM (No. 1675094)
To those who are brain dead Democrat following drones, Biden"s words were tax gospel. It wouldn't matter if the wealthy were taxed 100% on their income, it still wouldn't be enough. Their envy at others being more successful, having more money, and seemingly to magically just earn this money for doing nothing, has blinded them to all reality. Biden and Democrats play off this envy to inflame their followers to gain votes and push bad legislation.
6 people like this.
Reply 4 - Posted by:
franq 3/11/2024 9:13:08 AM (No. 1675125)
Biden supporters fall in the same category of devotees of The View. Rabid liberals, cheering on cue.
Incapable of logical thought. Raised on leftism and class warfare.
Why isn't Sheetz paying $30/hour starting wage?
3 people like this.
Reply 5 - Posted by:
bighambone 3/11/2024 10:16:22 AM (No. 1675169)
Instead of Billionaires investing that money in American business enterprises, clearly Biden wants the money to be forcibly given to the leftist and socialist Democrats, and above all to be used to keep him in political power.
4 people like this.
Reply 6 - Posted by:
Birddog 3/11/2024 11:01:34 AM (No. 1675216)
This ain't New flash back to 2011..."Eat the Rich"
(Methinks it's time for Bill Wittle to update this concept with today's numbers)
https://www.youtube.com/watch?v=661pi6K-8WQ
1 person likes this.
Reply 7 - Posted by:
Birddog 3/11/2024 11:19:18 AM (No. 1675237)
1st....there are not 1000 Billionaires.
Next, most of the 758 Billionaires live in Dem Stronghold states(and cities), support Dems, fund most of their campaigns, are by FAR their largest donors.
All Biden needs to do is "Ask Them" for a voluntary 25%...Right?
The Tax Rate is merely a mandatory Minimum...anyone and everyone is totally free to give as much as they choose above and beyond that.
In Fact Donald Trump(and his kids) ALL gave their entire Salaries from Public Service either to charities, or in the Trump Family's case donated it to Govt Programs. Not only their actual paychecks, they also calculated what the TAX would have been and donated that as well. Going back a looooong way, many Cabinet positions and Administration employees(particularly on the Repub side) have been "$Dollar per Year Men", who left the private sector to work for the administration for periods, then returned to their Regular Jobs.
Dick Cheney donated every dime from every Govt position ever held. So did Romney.
4 people like this.
Reply 8 - Posted by:
bamboozle 3/11/2024 12:56:22 PM (No. 1675323)
Billionaires by total wealth or Billionaires by annual income? Brandon doesn't seem to make it clear
2 people like this.
Reply 9 - Posted by:
Vaquero45 3/11/2024 2:31:58 PM (No. 1675433)
All Democrats, all lies, all the time.
3 people like this.
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