Entertainment star 50 Cent just eviscerated Joe Biden’s crazy tax plan

Alex Const, CC BY 2.0 https://creativecommons.org/licenses/by/2.0, via Wikimedia Commons

Joe Biden duped half the country into believing he would be a moderate.

A lot of people are expressing their regrets.

And entertainment star 50 Cent just eviscerated Joe Biden’s crazy tax plan.

The people who voted for Joe Biden thought they were getting a “return to normalcy.”

Instead, the Biden administration has put its foot on the accelerator toward Crazytown.

Even celebrities are expressing second thoughts.

Celebrities turning on Biden

Recently, Dwayne “The Rock” Johnson told Fox News, “The endorsement that I made years ago of Biden was one that I thought was the best decision for me at the time. And I thought back then when we talked about it — ‘Hey, I’m in this position where I have some influence. . .’ And I felt like back then that it was my job to exercise my influence and share and say, ‘This is who I am going to endorse.’ Am I going to do that again this year? That answer’s no.”

Another celebrity who’s fed up is rap mogul and actor Curtis “50 Cent” Jackson, who was incredulous at Biden’s proposed tax plan.

He wrote on Instagram, “COME ON NOW JOE, THINK OF SOMETHING ELSE THIS IS NOT IT!”

 

 

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A post shared by 50 Cent (@50cent)

The Wall Street Journal reported that “Mr. Biden also wants to increase this surtax on earned and unearned income to 5% for couples earning more than $450,000 ($400,000 singles). On top of that, he calls for raising the top rate on ordinary income to 39.6% from 37%. This would raise the top effective marginal rate to 44.6%, and it would kick in at $450,000 instead of the current $693,751.”

These types of tax schemes are always framed as making “the rich” pay their “fair share,” but everybody gets punished with higher taxes.

The Journal added that “small businesses would see the top rate increase by 7.6 percentage points, or about 20%. This isn’t a modest tax increase, Mr. President. Proprietors will have less money to reinvest, and the higher rate is a disincentive to grow a business. . .Mr. Biden also wants to apply the top 44.6% rate to capital gains for anyone earning more than $1 million—effectively doubling the current 23.8% tax on capital gains. This wouldn’t slam only the rich in Greenwich, Conn. It would wallop Americans who sell their businesses after decades of building equity.”

Tax the poor

The lie is that the stock market is for rich people, so they will be the ones hurt by taxing unrealized gains.

But the biggest funds in the market are pension plans.

Higher taxes do not pay for Congress’ bloated budgets, so the difference is made up by the Federal Reserve increasing the money supply, which leads to inflation.

Inflation hits hardest among poor, middle class, retirees, and disabled people on fixed incomes.

Celebrities like The Rock and 50 Cent are expressing what everyday Americans experience every time they go to the grocery store.

Not that long ago, $100 could fill up a shopping cart.

Now, it fills up a hand-basket.

Stay tuned to Unmuzzled News for any updates to this ongoing story.

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