Biden keeps saying billionaires pay 8 percent in taxes

[Thinker101]

There are some “facts” that Biden likes to recite in almost every speech. In the past year, in more than 30 appearances, the president has referred to billionaires paying about 8 percent in federal income taxes. He said it in his last State of the Union address, and odds are he will say it again when he addresses Congress in March.

Look, folks, you know how many billionaires we have in America today? One thousand. You know what their average rate — tax rate — federal tax rate is? Federal tax rate is 8.5 percent. Raise your hand if you’d trade your tax rate for 8.5 percent. I’m serious. Think about this. There’d be $40 billion raised if they even pay 25 percent.”

No doubt many of the Biden cult believes this nonsense.

MSN

 

[MarathonMike]

No doubt many of the Biden cult believes this nonsense.

The Biden cult reminds me of baby birds with their eyes closed and mouths agape waiting for their mommy to feed them.

 

[Resnic]

There are some “facts” that Biden likes to recite in almost every speech. In the past year, in more than 30 appearances, the president has referred to billionaires paying about 8 percent in federal income taxes. He said it in his last State of the Union address, and odds are he will say it again when he addresses Congress in March.

Look, folks, you know how many billionaires we have in America today? One thousand. You know what their average rate — tax rate — federal tax rate is? Federal tax rate is 8.5 percent. Raise your hand if you’d trade your tax rate for 8.5 percent. I’m serious. Think about this. There’d be $40 billion raised if they even pay 25 percent.”

No doubt many of the Biden cult believes this nonsense.

MSN

That's because they either think we're stupid, or they think we will just blindly believe whatever they say.

They always bring up tax the rich, billionaires don't pay enough taxes and so on because they think all of average America will say "yeah tax the rich! Biden is fighting for us peons" and that we will just rally around them to fight the rich.

Fact is the rich can afford tax attorneys and lawyers to help keep as much money as they can. I for one do not blame them. If I could find a way to pay less taxes you better believe I would in a heartbeat, no one wants to pay taxes.



It's just like trump said when debating Hillary, he uses the tax laws as they are written. If they want the rich to pay more taxes then they need to change the tax laws. But they won't do it because that would effect them, it would effect their rich friends and it would effect their rich donors.

Bottom line is Biden is talking out of his ass.

 

[Edgetho]

dimocraps are too stupid to understand the tax system. They can't comprehend that, that money has already been taxed at least three times before it gets to them.

dimocraps are scum for a reason -- They're stupid. And stupid people are gullible people. And gullible people are dangerous people. And dangerous, stupid and gullible add up to destructive. Every.Time.

 

[TroglocratsRdumb]

There are some “facts” that Biden likes to recite in almost every speech. In the past year, in more than 30 appearances, the president has referred to billionaires paying about 8 percent in federal income taxes. He said it in his last State of the Union address, and odds are he will say it again when he addresses Congress in March.

Look, folks, you know how many billionaires we have in America today? One thousand. You know what their average rate — tax rate — federal tax rate is? Federal tax rate is 8.5 percent. Raise your hand if you’d trade your tax rate for 8.5 percent. I’m serious. Think about this. There’d be $40 billion raised if they even pay 25 percent.”

No doubt many of the Biden cult believes this nonsense.

MSN

This is an old Radical Left Politician tactic.
Biden is pandering Loser Democrat Voters who envy the Rich.
Democrat Losers believe that if the Rich paid higher taxes, then they would get bigger welfare check.

 

[marvin martian]

There are some “facts” that Biden likes to recite in almost every speech. In the past year, in more than 30 appearances, the president has referred to billionaires paying about 8 percent in federal income taxes. He said it in his last State of the Union address, and odds are he will say it again when he addresses Congress in March.

Look, folks, you know how many billionaires we have in America today? One thousand. You know what their average rate — tax rate — federal tax rate is? Federal tax rate is 8.5 percent. Raise your hand if you’d trade your tax rate for 8.5 percent. I’m serious. Think about this. There’d be $40 billion raised if they even pay 25 percent.”

No doubt many of the Biden cult believes this nonsense.

MSN

He's referring to himself, and maybe a few others with most of their money in offshore laundering accounts.

The rest of the billionaires pay closer to 40%.

 

[MarathonMike]

Tax TV Evangelists, they literally pay no Federal tax and rake in millions every year from little old ladies who can ill afford to fund them.

 

[Foxfyre]

There are some “facts” that Biden likes to recite in almost every speech. In the past year, in more than 30 appearances, the president has referred to billionaires paying about 8 percent in federal income taxes. He said it in his last State of the Union address, and odds are he will say it again when he addresses Congress in March.

Look, folks, you know how many billionaires we have in America today? One thousand. You know what their average rate — tax rate — federal tax rate is? Federal tax rate is 8.5 percent. Raise your hand if you’d trade your tax rate for 8.5 percent. I’m serious. Think about this. There’d be $40 billion raised if they even pay 25 percent.”

No doubt many of the Biden cult believes this nonsense.

MSN

A lot of income received by billionaires and multi-millionaires is from investments that gain in value but are not taxable until sold or traded. If Biden is foolish enough to start taxing that kind of income/wealth, the rich will just put their money and investments elsewhere and that means fewer jobs, less money available to borrow, and other negative effects on the rest of us. You cannot punish the rich for being rich without hurting the poor more.

 

[Thinker101]

A lot of income received by billionaires and multi-millionaires is from investments that gain in value but are not taxable until sold or traded. If Biden is foolish enough to start taxing that kind of income/wealth, the rich will just put their money and investments elsewhere and that means fewer jobs, less money available to borrow, and other negative effects on the rest of us. You cannot punish the rich for being rich without hurting the poor more.

I realize that's tough for libby's to admit, but technically that's not income. If they change their wording to "tax based on net worth" they'd at least be honest.

 

[Foxfyre]

I realize that's tough for libby's to admit, but technically that's not income. If they change their wording to "tax based on net worth" they'd at least be honest.

It is income but it is income temporarily protected by the tax laws that Congress set up decades ago. It is at risk income of course because if the market should crash as it did in 1929 that ushered in the Great Depression, all that wealth goes away. But as that is unlikely with better controls and market forecasts, the Democrats are just afraid they'll die before they'll be able to get their hands on that money.

 

[Lesh]

He's referring to himself, and maybe a few others with most of their money in offshore laundering accounts.

The rest of the billionaires pay closer to 40%.

The fuck they do. Try 20%

He’s talking about effective tax rate and I realized capital gains.

Yes that’s a stretch and I wish he would stop using that figure but it’s not a lie