Biden blasted billionaires and corporations evading taxes in a push for Democrats ' $3.5 trillion budget
“If you can make a billion dollars, that’s great, but all I ask is that you pay your fair share, and that’s not happening,” Biden said Thursday.
Biden opened his comments by thanking the House committee thatWednesday to move forward on a set of sweeping tax proposals included in the Democrats’ $3.5 trillion budget package, setting the stage for a floor vote in the next few weeks.He also detailed a new
proposalthat would require banks to report annual inflows and outflows from bank accounts with at least $600 worth of transactions, giving the Internal Revenue Service an opportunity to crack down on potential tax evasion. In their plan, Democrats proposed a slew of measures targeting high-income Americans, including hiking the top income tax rate to 39.6% from 37% for Americans making more than $400,000 per year and
investing$80 billion in the IRS to help beef up its tax enforcement and technology. Democrats also proposed raising the top capital gains tax rate from 20% to 25% and the corporate tax rate from 21% to 26.5%—targeting two “opaque” income sources the Treasury headtopics.com
high earners commonly utilize to evade taxes.Crucial Quote “The data is absolutely clear: Over the past 40 years, the wealthy have gotten wealthier, and too many corporations have lost their sense of responsibility to their workers, their communities and the country,” Biden said Thursday, pointing out at least 55 of the nation’s largest corporations
in federal taxes last year. “If you can make a million or a billion dollars, that’s great, but all I ask is that you pay your fair share, and that’s not happening.”Surprising FactAccording to a report from the Treasury Department last week, the top 1% of taxpayers, ranked by income,
failedto pay about $163 billion in taxes last year—making up about 28% of the nation's growing tax gap. In the report, the Treasury said the wealthiest Americans account for the bulk of tax evasion because higher-income taxpayers have the financial resources to “tap into the services of accountants and tax preparers who help shield them from bearing their true income tax liability.”Read more: Forbes »
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A 13-year-old adopted pug has over 1.7 million followers on TikTok for his hilarious forecasts of the future. CNN's Jeanne Moos reports.
I bet the rich are living this! 🤦♀️ What does he and wife pay?
Biden Blasts Billionaires And Corporations Evading Taxes In Push For Democrats’ $3.5 Trillion Budget“If you can make a billion dollars, that’s great, but all I ask is that you pay your fair share, and that’s not happening,” Biden said Thursday.
House Democrats Opposed To Biden Agenda Actually Hail From Safe SeatsCorporate donations, not electoral fears, appear to be motivating obstructionist Democrats . nice ProPublica exposed the fact that the wealthy are NOT paying their taxes !, therefore We The People demand an end to the Filibuster and a Wealth Tax to pay for Universal Health Care and to end homelessness and poverty in America !! Institute a $3,000/month Universal Basic Wage !! Money talks....
Biden has 'great confidence' in Milley after secret actions in Trump's final monthsPres. Biden told ABC News Chief White House Correspondent CeciliaVega that he has 'great confidence' in Army Gen. Mark Milley after secret actions in Trump's final months in office. CeciliaVega And the whole world is chanting FU Joe. That’s the real true news! CeciliaVega LV U BIDEN! CeciliaVega So do I. He did EXACTLY what he was supposed to.
Mike Huckabee Blames COVID-19 Vaccine Hesitancy On Biden ‘Boring Us To Death’ With Science“When my mother wanted me to eat spinach, she didn’t try to tell me about the virtues of vitamin E. She told me Popeye ate spinach and I’d be strong like he was' “ Joe Biden needs to tell us the benefits rather than scaring the daylights out of us” Tell people it will make you jump over buildings? Listening to Huckabee is the LAST thing we need to do. 😴💤 'She Blinded me with Science' - 1980s one-hit wonder, Thomas Dolby GovMikeHuckabee
Disney’s Bob Chapek, Other CEOs Meet With Joe Biden On Vaccine RequirementsUPDATE, 11:30 AM PT: Walt Disney Co. CEO Bob Chapek joined with other business leaders at the White House for a meeting with President Joe Biden on vaccine mandates. Although representatives from F…
Biden and UK to help Australia acquire nuclear submarines in new pushback on ChinaPresident Joe Biden on Wednesday unveiled a new effort to help Australia acquire nuclear-powered submarines, a major step toward countering China as he works to build international backing for his approach to Beijing. No way US and China work on climate crisis together. This is not good for the world because we dont have much time left to transition from carbon. Climate change will be 10x worse than covid in how are lives will be effected. Best strategic decision for Southeast Asia to counter China. It's necessary. China seriously stressing our allies. They built islands in international waters and militarized them. The Philippines needs a new Fkn leader tho.