Biden will raise taxes in March, says it’s “bizarre” billionaires pay lower rates than teachers

President Joe Biden said during a press conference in Virigina Beach, Va., on Tuesday that his March 9 budget proposal to the U.S. Congress will include some higher taxes on billionaires, but will not violate his pledge not to raise rates on Americans making less than $400,000 a year.
“On March the 9th, I'm going to lay down in detail every single thing, every tax that's out there that I'm proposing, and no one making less than $400,000 is going to pay a penny more in taxes," Biden told the audience.
“The idea that a billionaire… pay at a rate that is lower than the rate of a police officer, a school teacher, a nurse - is bizarre."
Biden, under pressure from Republicans who are threatening not to raise the U.S. debt limit unless he agrees to sharp spending cuts, has vowed to cut the deficit by $2 trillion over 10 years in the upcoming budget proposal. During the 2020 campaign, Biden pledged not to increase taxes on people making less than $400,000 a year.
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[@MeMe-hd6lx]

Not a single billionaire will be impacted, this will only be a tax on the middle class...

[@shauncameron8390]

Tax the rich = tax any attempt to get rich.

[@MeMe-hd6lx]

@@shauncameron8390 👍

[@nancyking9033]

Yep, now Joe wants a Waitress's Tips

[@tem3111]

@@nancyking9033 Common man. They had to use the 87,000 new IRS agents for something.

[@nancyking9033]

@@tem3111 I read it's easier & more Successful for the IRS to go after the "little guy", small business, etc. Compared to a Wealthy Person or Corporations that can afford the Expense Tax Lawyers to fight in Court, the " Comman man" can't afford that & is typically imitated by the IRS and ends up paying just to keep from being Hassled by the Government

[@decemberreed4991]

DON'T BLAME ME..I VOTED FOR TRUMP🤣

[@Idontcare-g1n]

Politicians should be taxed at 90 percent

[@meehere7414]

FJB an it's cartel administration

[@nancyking9033]

I'm still waiting for the "Inflation Reduction Act" to kick in & Joe wants to raise taxes

[@cericson3426]

Buried within the so-called inflation reduction act is what we like to call the energy reduction act. There quietly trying to shutter coal-fired plants , nuke plants and even wanting to destroy hydroelectric dams. They have no plan and nothing to replace it with, you and I both know wind and solar is not going to cut it

[@hirathapa2515]

Raise tax and send to Ukraine

[@blakespics]

Needs more money to fund war and chaos.

[@adelegfleming]

Come on man....we need more money for war 🤡

[@Purplegold152]

Good to hear that billionaires are public enemy #1 instead of corrupt Democrats that take 100 vacations a year.

[@ARDG89]

the very people who are actually bribed constantly by corporations

[@HamidA-to8vy]

Trump paid zero dollars in tax for one year, and that is not an isolated case. Does that sound right to you?

[@Purplegold152]

@@HamidA-to8vy you answered your own question, why would a billionaire pay taxes based on how much he makes? It's not his fault that he chose success rather than be lazy and not work

[@ARDG89]

@@HamidA-to8vy Trump lost networth during his presidency. meanwhile almost all democrats ever (other than tulsi gabbard) increased theirs in multiples of millions sometimes even hundreds of millions. this includes the biden crime family. 👌

[@HamidA-to8vy]

@@Purplegold152 It's a joke! The most talented surgeons, who spent about 20 years of their lives spending on their education and developing their skills, and who work to death operation after operation, do not make a million a year! you will never become a billionaire unless used public resources including personnel , infrastructure, savings, natural resources .. etch

[@DerekPK]

He said a billionaire pays 3%. Then he says they pay less than a police? He doesn’t them know match. If a billionaire makes billions, and they pay 3% that’s millions they pay in taxes. US police officers don’t earn that much.

[@poe-]

The ultra rich know the game and can get away with it..

[@DerekPK]

Bill Gates

[@collegefootballpicks2972]

What's bizarre? Winning an election without a campaign? Or remotely derailing trains for insurance fraud?

[@zach5040]

Or claiming false fraudulent voting machines when they were all inspected and working fine

[@occamselectricrazor]

the guy who's been in washington 50 years, writing and voting for the current tax codes , now calls those same tax codes bizarre

[@steveharrigan7811]

Cardboard cut-out......He's not actually running anything.....He's just a lousy front-man for the psychopaths behind him.

[@MrWallace484]

Tax the rich for more votes

[@achilles5197]

Hows your gas bill since he has been president?

[@jackpinewood9344]

The Trump Tax Cuts were the BEST move he EVER MADE!!! Joe will raise your taxes, if he wins, nobody can stop him ....

[@AP-fl8hr]

What will happen next is something only the working man understands. The company, not willing to loose profits, will cut your pay or make you do more work for the same amount of money. You will be poorer.

[@shauncameron8390]

Or they'll just simply lay you off because you're deemed too costly to keep around.

[@albertlopez2237]

They cut back on pleaser spending. Less going out to eat cutting back on their vacation expenses, restaurants ,resorts , sporting good industry workers will be effected by this. Maybe not putting an add on to their home or vacation home so now this effects construction industry . Cement layers , cabinet makers , on down the list

[@jensmalzer6344]

But when the company makes record profits your pays aren't raised and you still work the same 🙂

[@frankiel3767]

That’s why unions are important in America

[@samserrano3966]

Unless your union

[@areuaware6842]

They always tell the same lie. LOL

[@vancouverviking4652]

81 million votes 🗳

[@areuaware6842]

@@vancouverviking4652 , Voting is fake.

[@Isgonesomewhere]

Acting as if he's just invented the wheel.

[@RuggedIndividual1990]

Everyone making under 400,000 has paid an inflation tax already

[@Invictus_Veteran]

Wow you’re taxing 1000 people!!!!! Funny that they borrow against themselves and don’t pay taxes

[@salsa564]

They have most of the money in the country, though, your mouth doesn’t check out

[@flatmoontheory]

It's a loophole that could be easily closed if they wanted to.

[@Marco-fn6kg]

yeah but its in a big circle for them NONE of their money gets lost to the tax system.... ohhhhhh i gotta pay 25 million in taxes ?????? ill just buy that building down that street for 30 million and no taxes!

[@chadmcginney1600]

Promises kept!!! Raised taxes on every man, woman and child in the USA!!! Thanks for being honest, Joe!!!

[@thclapper2258]

Multiple investments, portfolio diversification and solid retirement plans should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing.

[@AmFaucher255]

I am so fortunate that I made productive decisions about my finances that changed my life forever. I am a single mum living in Toronto Canada bought my second home in September and hoping to retire next year at 50 if things continue to go smoothly for me🥰🥰

[@waltermartinelli8384]

@@AmFaucher255 Congratulations. You're really doing well for yourself, my greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US. I would appreciate if you share tips on how you achieved this feat, thanks.

[@AmFaucher255]

@@waltermartinelli8384 I used the FIRE movement to put my finances in order. Then lnvested in stocks, cryptocurencies and reaI estates though the assistance of an lnvestment Pro who helped me make it this big....

[@drlukasdouglas74862]

@@AmFaucher255 Very smart, I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.

[@waltermartinelli8384]

@@AmFaucher255 Thank for your kind response, I would love to connect with your financiaI consuItant............. My retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2019.

[@JD-tw3ov]

“Taxation isn’t theft, it’s armed robbery.

[@youneverknow347]

1000 people in 300 000 000 country will pay slightly bigger tax ,what a big deal 😆🤣😂😹😆🤣

[@georgesimon6041]

10% for the big guy, right Hunter.

[@Jeckle6633]

10% would barely cover that junkies fix… That Parmesan “cheese” is pricy brah 😆👌

[@nephilimivritt8216]

saw this coming after all he has to pay for his war in Ukraine somehow.

[@DannyM-ku3ot]

Even if it wasn't for the war in Ukraine. It's the right thing to do. We're dying here while billionaires pay lower rates. Then they're kids inherit the money and well do you not see the problem here? It's an insult to humanity.

[@nephilimivritt8216]

@@DannyM-ku3ot oh does that mean that him and his pedophile party will have their taxes raised also. i think not because anyone with half a brain knows that the socialist democRATS keep the money in off shore accounts. even you goofy liberals surely see that

[@YaddaYaddaDa]

And how is it his war exactly?

[@steveharrigan7811]

@@YaddaYaddaDa Do a bit of research ( It wont take much, just to be clear )......It's actually Victoria Nuland's war, with Joe Biden as the cardboard cut-out "blame puppet"........The Democrats keep talking about "protecting democracy", when Nuland and her cohorts had a democratically elected Ukrainian leader overthrown in 2014.....They are such bald face liars, and the legacy media keeps backing up the lie......See Oliver Stone's "Ukraine on Fire" for more clarification.

[@nephilimivritt8216]

@@YaddaYaddaDa he is the one that keeps giving Ukraine the most money and equipment over any other country. we all know Ukraine is where him and his pedophile party launders the money they steal from the tax payers back here in America.

[@ExposingTheDemocratParty]

Lies. Billionaires have always paid much more than the average person

[@Gww376]

Billionaires create more jobs than...energy dependence or "depends"🙏🤣

[@CRUZROYHelicopters]

Biden was doing shots with pelosi out back

[@Stevi987]

Wow! Over 2 years as president, 8 years as VP and held various positions in public office since the 70’s; and he’s figured that out now?

[@dannyn.3539]

He will never Tax the rich because him and his family are super rich. Just reading the teleprompter that’s all.

[@seanmichael1524]

Myself and 300+ individuals had to sit through one year of US government in high school to graduate for this ?

[@alexpatterson-in4uo]

The Power to raise taxes is the house's authority. He has no power to do this. If one man in any country can dictate the entire countries taxes that man is a dictator or king which we do not have in this country. That is why we have the house with several representatives who have the power to raise and lower taxes. This stops one man from doing this.

[@douglaskeen873]

Prosperity is penalized and government dependency rewarded.

[@baby_boi123]

Remember war under Trump? Me either

[@JesusChrist73457]

Donald Trump did enact the largest tax cuts in U.S. history, reducing taxes by over $5.5 trillion over 10 years ¹. The tax cuts were enacted as part of the Tax Cuts and Jobs Act, signed into law by Trump in December 2017 ². The act lowered personal income tax rates and permanently reduced the corporate tax rate, among other changes ².

[@ryzlot]

THIS from a criminal who received MILLIONS in bribes and paid NO TAX jr

[@josephelliott5945]

Just some common sense information on what he said. He is not talking about paying debt he is talking about raising the debt ceiling. He wants to add more debt.

[@billboyd1885]

The irony is that it will never happen. He’s just pandering to his ‘base’. His billionaire base knows he’ll never do it, and his clueless base thinks it will and if it doesn’t , at least his intentions were in the right place.

[@simonalvarez1960]

I don't remember where I heard this but here we go: When you have a lot of money you are afraid of losing it.

[@luchicholito]

if he was concerned about teachers taxes then why doesn't he lower taxes on personal income . he doesn't care about teachers, he wants to take your wealth.

[@DukeHard]

Someone's gotta pay for Ukraine.

[@adaka9623]

I can’t wait to he leaves office no job won’t hire me no money people can’t live like this

[@tammykrzyski6250]

Capitalism isn’t the problem. Globalism is.

[@brycepeterson2205]

Maybe let’s stop aiding Ukraine so we don’t have to raise are taxes an get out of inflation?

[@avsguy01]

Get ready for increased consumer prices if this happens.

[@cericson3426]

Most billionaires live off dividends they don't have an income to speak of so he is being deceitful at the least..

[@shuso9619]

KING OF THE WORLD SO, SHU CHAU APPROVED ALL ORIGINAL QUARTER PRINTED IN 1988 WILL WORTH 100 MILLION DOLLAR USD AND CAN BE USE AS A SPECIAL METAL TO PRINT 100 MILLION DOLLAR USD TO HELP FEEDING THE POOR AND LIFT UP POVERTY LEVEL AMEN.

[@boblee6101]

Thing is they don’t. Dollar for dollar they pay more in taxes than teachers earn in total all year

[@goingstealth6372]

Still stupid i think we should have a flat tax that doesnt leave people broke in a box and others still flying around on their private jets and oh no i cant have that building complex i really wanted on the beaches of tropical paradise im not one who says they should pay more percent but deffinantly not less percent understand people are barely getting by

[@boblee6101]

@@goingstealth6372 I get that but at the same time, it’s not really fair to punish people who are extremely successful. People will be less likely to create businesses and won’t try as hard. Also billionaires usually have business empires that pay a lot in tax every year plus employ hundreds if not thousands of people directly and indirectly. They also fuel every industry. If you make life too difficult for them, they’ll just leave for greener pastures so to speak.

[@goingstealth6372]

@@boblee6101 thank you Bob for not going on the defensive, I agree this is a tough topic for me cause I am pro cap,but they led people to believe a bunch of lies though hooked by a carrot we would be better to be not outsourcing our jobs and money to other countries our money going to labs and studies by the millions billions and 2 trillion for gender studies we got roads and medical and grids that need strengthened it is very frusterating they want more and more from the workers who don't make billions when we have the money itsjust not being spent here.

[@boblee6101]

@@goingstealth6372 no worries. It’s definitely not a one size fits all matter. And the amount of corruption at the billionaire level is absolutely appalling

[@GEAE_Denny_L]

Billionaires are the ones providing all the business where people work, and those people also pay taxes. Without billionaires this country would collapse.

[@frankiel3767]

There are not that many billionaires in Europe compared to America. Do you believe Europe is some hellhole of unemployment and poverty?

[@Lennylo238]

He’s a clown we need trump

[@mr.dawson1988]

This man has to be lying I thought the president couldn’t even levy taxes anyways. I think making a bill on taxes would still be hard. How can the government tax billionaires when taxes are based on income rather than general wealth.

[@parvesh.5_357]

BRING BACK TRUMP

[@zakkarawylde151]

I will tax the rich.... but I am also rich. Who's d*mb idea was this?

[@salsa564]

It’s not a dumb idea

[@shauncameron8390]

@@salsa564 It is a dumb idea. Tax the rich doesn't mean what you think it means. Especially in practice.

[@albertlopez2237]

Time for a raise

[@DerekPK]

@@albertlopez2237 Yes Joe Biden gets a raise while the people gets poor.

[@MrPathorock]

buying voters

[@kellymerrill5294]

I am a teacher and my taxes went up several thousand this year. I will remain democrat but won't vote if hes the only option next year.

[@victorseger6044]

So at the end of the day you will REMAIN foolish..

[@vancouverviking4652]

Kelly is a trans dude preying on your kids, report him to your nearest police station. 🚔

[@stephenflood5374]

Kelly , vote what's best for your pocket 🤦

[@brians7181]

Kelly, most democrats consider Biden too "moderate." Most democrats want you poor, ignorant, carless, and confused on which bathroom to use.

[@Jack51971]

Why do you vote for failure and reward failure. Hold your nose and vote Republican?

[@meds888ful]

If goes through. Mass layoffs incoming

[@salsa564]

That is not how that works. Behavioral economics has shown that what you’re saying is incorrect.

[@Anthony-zw1qb]

Billionaires employ people.

[@thefridaynetwork]

fraud

[@arjavkumar]

"We have borne the cost for the past 100, it is time for them to shoulder the responsibility for the next 500." This phrasing implies a sense of obligation on the part of others to contribute towards the future, while also acknowledging that you and others have already made significant contributions towards the past.

[@micchaelsanders6286]

Jealous losers.

[@mlmoreno75]

This is the guy who voted to tax your social security

[@peterpam5479]

LGB! What a theater.. .

[@marnixberkemeijer2530]

We could invest into technology to make robots that plant and harvest foooood for us. This mindset needs to change we ruinin everything...

[@michaelwinkelman7165]

Raise the billionaire taxes he thinks is the answer. That's sure fire way to increase costs on us working stiffs and prevent billionaires from future investments or reinvestment.

[@e.rexsean1590]

Looks like Bernie’s getting to him.

[@Muchjoy..]

Would the real Joe Biden stand up . Which one of the clones is this..

[@leifmorris5114]

liar.

[@KerriForsberg]

It's bizarre they pay majority of taxes, wow, so weird.

[@bobwoods1302]

If I pay 40% of my income in taxes so should billionaires. We pay taxes in percentage of income. It doesn't matter what the number is. When the rich don't pay their fair share then I have to pay more to make up the difference. For instance. I`m sure I pay far more money than you every year.

[@FG-bu3jp]

Its bizarre money isnt contagious like covid

[@salsa564]

On paper, yes, they do. However, the ultra wealthy have ways of affectively paying nothing, mainly loopholes in the system.

[@bobwoods1302]

@@salsa564 Yup so lets plug the holes.

[@shauncameron8390]

@@bobwoods1302 While they pay taxes in real numbers which is probably more than what you make in a year.

[@bobwoods1302]

The old myth about "trickle down" economics is that if you let rich people keep more of their money they will hire more people, as if workers are charity cases that cost companies money and they only get hired out of the goodness of company owners hearts. Fact is no company hires employees they don't need. If you give them tax break they buy back shares to makes themselves and their investors richer or worse they use that money to automate their factory or warehouse and lay off workers. They're not going to hire people for no reason. Employees make (or save) companies money. Period.

[@derekwoodford9955]

dummy

[@tem3111]

Companies accrue all the risks.

[@TimeMakerDotPH]

Imagine being American and still thinking that "trickle down" economics don't work in the 21st century when in fact, supply-side economics worked brilliantly in countries like Australia, Austria, China, Germany, Japan, Ireland, and Israel Reason why it didn't work in the US (only to end up in tons of debt which started with Reaganomics) because both parties are controlled by the MIC and wouldn't agree to cut the excessive military spending. And now Biden is funding the war in Ukraine.

[@bobwoods1302]

@@tem3111 Companies use roads, bridges, railways, airports, seaports, police and fire services to make their money. Companies need educated workers and a business environment free from corruption and safe(ish) neighborhoods to earn money. All these things need to be paid for.

[@tem3111]

@Bob Woods You also use every one of those services. Every time I hear an entitled person like you talk, it makes me want to shut down my company, Fire all my employees, and then send them to you to see if you can come up with any better ideas.

[@jimbojones101]

. . . Let's eat em instead!

[@amysharma4972]

Sorry bastared I hate him😡!

[@Hello-nq1gn]

True circus 🎪 act 🤡

[@jeffros6739]

yeah we believe everything you say

[@dirkvenezuela7387]

20Then shall stand up in his estate a raiser of taxes in the glory of the kingdom: but within few days he shall be destroyed, neither in anger, nor in battle. 21And in his estate shall stand up a vile person, to whom they shall not give the honour of the kingdom: but he shall come in peaceably, and obtain the kingdom by flatteries. 22And with the arms of a flood shall they be overflown from before him, and shall be broken; yea, also the prince of the covenant. 23And after the league made with him he shall work deceitfully: for he shall come up, and shall become strong with a small people. 24He shall enter peaceably even upon the fattest places of the province; and he shall do that which his fathers have not done, nor his fathers' fathers; he shall scatter among them the prey, and spoil, and riches: yea, and he shall forecast his devices against the strong holds, even for a time.

[@954REMI]

Everyone should pay the same amount taxes.

[@andygarcia3772]

How?

[@DerekPK]

I think you mean flat rate or do you mean all should pay the same amount?

[@DerekPK]

If all people payed a flat rate of 10% that means the rich still pay mote than the poor, imagine the rich paying 70% income tax like Sweden 🇸🇪? That means the government takes their 70% and leave them with 30% So if I made 10 BILLION USD in Sweden 🇸🇪 I only get 3 BILLION. Sounds bad right? The government just lies and tell the poor that the rich ate evil people and would just use that money on themselves. First of all it’s the rich money they do whatever they want with their money. Second of all the government would probably put that money in their pocket and not give it to someone else.

[@JoeScenario]

How come the secret service is not as incompetent as the rest of the people working in this administration??

[@victorseger6044]

What would make you think they aren't ?

[@user-tz7kt9iz9l]

Just like his son

[@slender5738]

Its better to divide a country and form a union if everyone cant tolerate each other classic country divorce like europe. thats how governance will be better

[@paintinout3709]

F . Y

[@mohamedtoson]

Egypt Welcomes those billionaires Come to Egypt Transfer Your money to Egypt and start Working we have Oil, we have Gas, we Have natural Gas all with a low cost Two Seas And An adminstration that will make what they could to grow investmensts In Egypt So billionaires Come to Egypt

[@ARDG89]

welp... there goes more jobs to china....

[@roseela1191]

Is this include That Family too? Ohh wait nevermind they can print money easily

[@LitIbar-ti5bf]

It doesn't matter they just avoid everything like they always do I'm a millionaire I'm smart that doesn't make you smart I bought a million dollar sock does that mean it's smart

[@anthony605]

I guess only the Woke Emily’s will enjoy this.

[@salsa564]

What lol

[@ZoomZoomMX3]

And tape it ! Show who says what

[@MikePetChannel200]

BOOO

[@DaWootzi]

OooOo tax the rich.

[@HaloFan117_]

Ok Biden very fire proposal. But cmon jack you know yung buck mconnal ain't gonna sign off with helping the American people jack!i i i mean like kids have to work for food like PLZ SIR SOME MORE FOOD🥺🥺

[@angusmulcahy7946]

lol

[@cybergrail]

Yes. Raise taxes on the rich.

[@RedSquirreLx]

because at 3 percent they are paying more than the others

[@e.rexsean1590]

Billionaires are inherently immoral & exist only because of extreme exploitation.

[@shauncameron8390]

@@e.rexsean1590 Like Bill Gates, Hollywood and other Democrat-voters?

[@edgarramos1701]

Finally, tax the rich and make America better

[@madarchermoto4955]

You’re probably a bot, but I guess you don’t realize how capitalism works. This is a tax on the middle class to further bankrupt us. It’s all an agenda. Wake the hell up

[@danielstansberry5417]

Smooth brain

[@tylere.8436]

Define rich

[@canadaclub8920]

Good luck Mr President, I hope you make positive change

[@madarchermoto4955]

Lmao. You obviously don’t know how economics works lol. Y’all are ridiculous. I hope you enjoy your food and product prices skyrocketing even more.

[@Myers70]

Let's go BRANDON

[@michaelraymond3611]

Everybody gonna pay more now hell it's almost better to just get SSI and free government help

[@michaelraymond3611]

People with government help don't have to pay a dam thing I know I don't and I got plenty of money

[@xenomorph7299]

Finally!

[@libs-Suk-Balz]

Billionaires have money in the market. They pay long term capital gains when they sell.