President Biden an AOC Team Up in Response to Her “Tax The Rich” Stunt at the Met Gala

President Joe Biden and socialist Consultant Alexandria Ocasio-Cortez look like teaming up with AOC’s “Tax The Wealthy” agenda.

Over the weekend, Ocasio-Cortez proved to be a complete hypocrite as she wore a “Tax the Wealthy” costume on the Met Gala. Tickets to attend the Met Gala costed on common $30,000 and tables on the occasion had been $275,000. The one individuals who may attend the occasion had been the ultra-wealthy or elites with excessive up connections.

On Monday evening, Biden tweeted an analogous message.

“In the event you make lower than $400,000 per 12 months, I’ll by no means increase your taxes one penny. However if you happen to’re on the very prime, it’s time to pay your justifiable share. We have to reward work on this nation — not simply wealth.”

On Tuesday after the Gala, Biden doubled down. “Look, I don’t need to punish anybody’s success, however the rich have been getting a free journey on the expense of the center class for too lengthy.”

On Tuesday, Biden tripped down: “It’s time the super-wealthy and massive firms pay their justifiable share in taxes.”

Simply 23 minutes later, Ocasio-Cortez parroted Biden’s “Construct Again Higher” agenda.

“Couldn’t agree extra. Taxing the wealthy will assist us increase Medicare, lengthen childcare, take motion on local weather, and a lot extra. We have now a valuable alternative proper now in reconciliation with the Construct Again Higher Act, and we should always use it.”

Biden adopted up after AOC’s tweet, saying, “To be clear: In the event you make beneath 400k, my Construct Again Higher Agenda received’t increase your taxes a cent. Not solely that — you’ll get a historic tax minimize, and see decrease prices on issues like little one care and well being care. And all of it will likely be paid for by the rich paying their justifiable share.”

The Committee for a Accountable Federal Funds unleashed on President Biden and his Construct Again Higher plan in August:

The Construct Again Higher plan consists of two components: the $550 billion bipartisan Infrastructure Investment and Jobs Act and a plan to make use of reconciliation directions to enact $3.5 trillion of spending and tax breaks, principally associated to household advantages, well being care, and local weather change mitigation. Although policymakers declare each are paid for, a better look suggests the offsets will fall brief. The bipartisan infrastructure invoice counts financial savings from insurance policies which have already occurred, whereas the reconciliation plan is prone to declare extreme income from closing the tax gap and “long-term economic growth.”

The Utah Taxpayers Association famous:

The next graph from the nationwide Tax Basis, utilizing IRS knowledge exhibits how the highest 5% of revenue earners pay a mean revenue tax charge of 17.3% and the highest 1% pay a mean charge of 25.4%. It must be famous that this solely accounts for federal revenue taxes. When you pile state revenue tax on prime of that the common charges bounce a lot larger, particularly in excessive tax states like California and New York, driving the rich to low or no revenue tax states like Texas and Florida.

Examine that 25.4% common tax charge to the underside 50% of earners charge of simply 3.4%. That may be a large distinction. On the subject of the tax charges the rich pay, it’s a undeniable fact that they pay excess of center and decrease revenue people. Their common charge is SEVEN TIMES larger than these within the backside 50% of revenue. …

In the latest 12 months that full knowledge is accessible, 2018, the underside 50% of revenue earners, these with AGI lower than $43,614 (single), contributed slightly below 3% of the full taxes paid, or $45.1 billion {dollars} to be actual. The opposite 97% of the full taxes collected was paid by the highest 50% of revenue earners.

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