I watched for about 10 minutes last night. Turned it off when we was on a rant about billionaires paying income taxes.
He's selling that snake oil narrative to get people to vote for him, but he's not telling you the truth...people with a lot of wealth don't pay INCOME taxes because they don't have INCOME.
There are basically 3 kinds of income:
1. Ordinary - wages, salaries, tips and interest earned on a savings account (how most people with exist)
2. Capital Gains - gains from sale of investments like stocks, real estate
3. Tax-Exempt - social security, municipal bonds
#1 does not apply to rich people. Wealthy people are sitting on piles of cash, stock, or holdings like real estate. They don't have jobs. If they cash out some of their stock positions or sell some real estate, they create capital gains, which are taxable. But most of the time they don't do that. They just borrow against their net worth position and use that to buy the new yacht and pay the interest, which itself MAY be deductible.
Elon just goes to the bank and says "Hey, can I borrow 100 million? I have 100 BILLION in stock value to but up as collateral. What kind of awesome rate can I get from you instead of Bank X?" Whatever it is, it's less than the tax rate on capital gains. Raising rates on capital gains goes nothing to cause these people to pay more money to the government.
Most people don't understand this...they hear Biden say "I'm gonna get the rich people to pay so you don't have to" and say "Hell yeah, I'm gonna vote for that!"
Anybody spewing this "tax the rich people" narrative is counting on people being uninformed. Guess which of those 3 types of of Income above gets taxed the most at at the highest rates? #1...the same people he's trying to sell.
This much factual information will not be received well here.
Kept hearing all the Billions he was spending of our money and wanting more.
Watch a montage of him going off saying "My administration spent 5 Billion on this, 10 Billion on that, We need another Gazillion to give to Ukraine" All the while every blue state is drowning in debt because of the Illegal migrant problem " His administration" created.
#JackedupJoe
This country’s tax code relies on people having no clue how finances actually work, if they did there would be revolution tomorrow.
To me there’s a difference between being misleading and straight up lying, and the left has been straight up factually lying about taxes and economics for as long as I’ve been alive. If you took every penny from every billionaire in the US (pretend they have it all in a bank account which anyone with half a brain knows isn’t correct) you wouldn’t even fund the federal government for 9 months, the idea that we can tax our way out of debt is factually and irrefutably false.
That’s not even getting into what your tax dollars actually go to, and knowing that it’s my opinion that we as a society have a moral obligation to ensure they take in as little funding as possible to ensure the least amount of lives are lost or disrupted around the world.
It's one of the Democrats favorite lies.
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I also love the “corporations will pay their fair share!”
Genius! No way corporations would factor in that additional expense and pass it on to the consumer, effectively taxing the poor and middle class… again. 🙄
Did anyone notice when Joey was talking about his 25% tax on the super rich, I believe he said it would raise $500b in 10 years. So that’s $50b per year.
it would take 20 years of that to add up to 1 trillion.
We gave away $81b in weapons when we left Afghanistan without blinking an eye
it ain’t gonna help much.
Also I’ve posted this before, but let’s see who paid attention.
Just for perspective…
1 Million seconds is 11.57 days.
Somebody tell me how long 1 Trillion seconds is.
11,574,074 days
This is the chart the RNC should put a full page ad in every major newspaper in the US- on top a Biden quote of "make the rich pay their fair share" and this chart below it.
People just believe whatever he says is true, that the "rich" don't pay shit. But it is a lie, he makes it sound like because they are billionaires they make a billion dollars a year in income. Being worth a billion dollars doesn't mean you made a billion dollars in taxable income (though they would like to tax assets as well).
Half the county gets more $$ in benefits than they pay in taxes. But the rich should pay more? Half the country does not pay anything.
Nope. Not even close.
edit:
You were right. I read it wrong.
If you have an iPhone , open the calculator and turn it sideways. Otherwise it won’t show enough digits.
1 trillion is a 1 and twelve zeros
divide that by 60 ( seconds to minutes)
divide that by 60 (minutes to hrs)
divide that by 24 (hrs to days)
divide that by 365 …yes it gets into a few years
it will surprise you
Our debt is increasing by 1 Trillion in a little over EVERY 100 days…
We can hardly pay the interest on that.
My sincere apologies.
I goofed up and didn’t read your answer correctly. I looked at your answer wrong and was off. I saw your second comma as a period.
I was expecting it in years, which is 31709.79.
Sorry.
Thatonewombatreeses peanut butter cup with extra nuts is gonna school all you guys any minute.
Is it a Brazilian????? 😁😁
Close
Presidents and Congressman vote and approve the 6 700 page tax code monster that they say let's Corporations and wealthy not pay their share.
Biden has been doing for 50 years.
I'm pretty sure that the interest on our debt is larger each year than our military budget.
Pit Row
People don't give a shit about taxes, half this country doesn't pay them anyway. What they do give a shit about is revenge and making people more successful then them pay. I didn't invent the term class envy, it's been around for centuries and governments have always stoked it. The rich are the only group of people in this country you can openly make ignorant bigotted statements against and people are cool with it. What a bunch of shit.
A bunch of days 😏
No they won’t, because they have nothing to defend. The lies he told were outlandish and all they can do is downvote in the shadows. Notice how many have had more than one screen name? lol 😂
Joey high as a kite
Nah. That was when he saw the nutjob MTG (the one who believes in Jewish Space Lasers). So he trolled her with that face. It was perfect.
Maybe you should do a little reading on Israel's Iron Beam defense system...
Sorry, have to dock you a lap for this one. You implied ThatOneMXGuy could read. 😁😁
Taxation without representation
Middle-Class and up spend money thus creating jobs and stimulating the economy.
Poor people receive subsidies from these people. Food stamps, Obama Care, subsidized housing, subsidized transportation, etc...
Tax the middle-class and up and subsidize the poor 'til there are no rich no more.
Right Joey?
Trickle down "works" but the problem is... it's a trickle and a trickle isn't nearly enough to close the ever widening gap it has created.
How much bigger of a percentage do they need to pay before you consider it fair?
How about not taxing the rich because the federal government will spend the money in the Ukraine or Israel while the rich person will spend it on the dude repainting his house. Think about logically my friends, any tax, rich or poor, is money out of the free market system.
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