Joe Biden’s utter lack of economic knowledge was on full display Saturday and Twitter CEO Elon Musk thoroughly humiliated him in the process.
Biden sent out a tweet claiming that billionaires do not pay their “fair share” in taxes. To resolve this, he demanded a minimum 25% tax rate on billionaires.
Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share. I think you ought to pay a minimum tax of 25%.
It’s about basic fairness.
As noted by the Blaze, Biden’s tweet also included a graphic containing a message from his State of the Union Address.
Do you know what billionaires pay? Three percent.
No billionaire should be paying a lower tax than somebody working as a schoolteacher or firefighter.
Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share.
I think you ought to pay a minimum tax of 25%.
It’s about basic fairness. pic.twitter.com/oHgreYCdUz
— President Biden (@POTUS) March 18, 2023
Musk quickly jumped on this nonsense. He pointed out that he paid a combined 53 percent tax on Tesla stock options at both the state and federal levels.
He also added that he paid more taxes than any person on Earth in 2021 and will likely do so again in 2022. Musk back in 2021 paid a whopping $11 billion in taxes
Community Notes is a feature Musk brought to Twitter. This is essentially a crowd-sourced fact-checker.
I paid 53% taxes on my Tesla stock options (40% Federal & 13% state), so I must be lifting the average!
I also paid more income tax than anyone ever in the history of Earth for 2021 and will do that again in 2022.@CommunityNotes, is the 3% number cited above accurate?
— Elon Musk (@elonmusk) March 18, 2023
Musk then asked Community Notes to fact-check Biden. Community Notes is a feature Musk brought to Twitter. This is essentially a crowd-sourced fact-checker.
It did so and now the fact-check is permanently attached to Biden’s original tweet.
Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share.
I think you ought to pay a minimum tax of 25%.
It’s about basic fairness. pic.twitter.com/oHgreYCdUz
— President Biden (@POTUS) March 18, 2023
As Gateway Pundit readers know, this is not the first time Musk has destroyed progressive lawmakers on economics. Senator Elizabeth “Pocahontas” Warren was his victim back in 2021.
You remind me of when I was a kid and my friend’s angry Mom would just randomly yell at everyone for no reason
— Elon Musk (@elonmusk) December 14, 2021
via thegatewaypundit
