Joe Biden, or whoever runs the White House resident’s Twitter account, complained on the social media platform about unfair taxes.
“Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share. I think you ought to pay a minimum tax of 25%,” Biden said.
“It’s about basic fairness.”
In the tweet, another Biden quote says the average billionaire pays three percent in taxes.
“No billionaire should be paying a lower tax than somebody working as a schoolteacher or a firefighter,” Biden said.
Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share.
I think you ought to pay a minimum tax of 25%.
It’s about basic fairness. pic.twitter.com/oHgreYCdUz
— President Biden (@POTUS) March 18, 2023
If you scroll to the bottom of Biden’s tweet, it contains a fact check to add more context readers “might want to know.”
“The 3% number Biden is referring to is based on a value increase of held investments (not on their income). However, these investments can also lose value which why they are taxed when sold and become income. Calculating on that, the avg tax rate for them is 25%, not 3,” the fact check said.
Twitter CEO Elon Musk also added comments about Biden’s three percent tax rate claim for billionaires.
“I paid 53% taxes on my Tesla stock options (40% Federal & 13% state), so I must be lifting the average! I also paid more income tax than anyone ever in the history of Earth for 2021 and will do that again in 2022. @CommunityNotes, is the 3% number cited above accurate?” Musk said.
“I certainly agree that everyone should pay taxes and not engage in elaborate tax-avoidance schemes. Would be curious to hear how these other ‘billionaires’ are so good at avoiding taxes! We should get rid of GRATs, but maybe other things too.”
I certainly agree that everyone should pay taxes and not engage in elaborate tax-avoidance schemes.
Would be curious to hear how these other “billionaires” are so good at avoiding taxes!
We should get rid of GRATs, but maybe other things too.
— Elon Musk (@elonmusk) March 18, 2023
However, Elon Musk shares a different opinion than myself on the basis of taxation.
Taxation is theft.
It’s extortion from the government to rob Americans of their hard-earned income.
‘Pay your fair share’ is an excuse for the government to pad its pockets for illegal wars, pharmaceutical drugs, and other wasteful spending.
“And for the record, our ancestors fought a war over a three percent tax. Three percent is high. 25 percent is criminal and anti-American,” Citizen Free Press noted.
Elon Musk fact checking Joe Biden in real time is a major reason why the institutional Left did not want him to own Twitter.
And for the record, our ancestors fought a war over a three percent tax. Three percent is high. 25 percent is criminal and anti-American. pic.twitter.com/v1Tz5YvOez
— Citizen Free Press (@CitizenFreePres) March 18, 2023
“The country would be much better off if you were able to keep that money, and were able to invest it productively, rather than turning it over to government to blow it on consumption. Our nation will suffer a lower standard of living as a result,” Peter Schiff said.
The country would be much better off if you were able to keep that money, and were able to invest it productively, rather than turning it over to government to blow it on consumption. Our nation will suffer a lower standard of living as a result.
— Peter Schiff (@PeterSchiff) March 19, 2023
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