Staff Reports
President Joe Biden seems to have taken a nosedive into the myth pool with his recent State of the Union address. The man must have thought he was pitching a tent with all the fabrications he spun. But fear not, truth warriors like IBM Vice Chair and former Trump economic guru Gary Cohn were on the scene to drop some cold, hard facts.
Biden Fact-Checked Into Low Orbit Over Billionaire Tax Claim https://t.co/GpIW9s28Rp
— Garyharc (@Garyharc1) March 11, 2024
Biden’s claim that billionaires pay lower taxes than teachers got a swift kick right in the pants from Cohn on “Face the Nation.” The reality check came in the form of numbers, showing that the top 10% of earners fork over a whopping 70% of the country’s tax money. Thanks, Trump tax code!
And let’s not forget that pesky thing called the Constitution. It clearly states that taxes must be uniform across the states. So when Biden starts yapping about slapping a wealth tax on billionaires, he’s barking up the wrong tree without a constitutional amendment. Nice try, Joe, but the law doesn’t bend to fit your narrative.
Cohn took it a step further by explaining the difference between wealth and income. See, even billionaires can’t evade the taxman when it comes to their income. They get hit with a 20% minimum tax rate on every dollar. So, no, they’re not swimming in gold coins while the rest of us scrape by.
It’s a shame that Biden’s misinformation train keeps chugging along, forcing private sector heroes like Cohn to emerge from the shadows and set the record straight. The only problem is that the lies flow so freely from the president’s lips, it’s like battling a tsunami of poppycock.
