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To gin up class warfare, Biden said during his speech to the nation this past week that the average wage of CEOs is 300 times that of American workers.
That is a blatant lie. There are an estimated 195,530 CEOs in the U.S., and according to the Bureau of Labor, their median salary is $185,950, or 3.5 times the median wage of an average worker who makes $25.50 per hour.
The CEOs make around as much as the 535 members of Congress, and members of Congress get much higher pension benefits and a lot more time off.
The median annual wage for chief executives was $185,950 in May 2020. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $62,780, and the highest 10 percent earned more than $208,000.
The median pay for 2,774,300 executives was $107,680 in May of 2020.
Biden continued his string of lies by claiming that higher taxes won’t materially change results, so why did he and Jill do everything they could to save $500,000 in Medicare taxes?
It is dishonest and deplorable for people like Bill Gates, Warren Buffett, the Bidens, and others to do everything they can to reduce their taxes while lecturing others that they should pay more. These same people live in mansions and fly in private jets while they lecture others that they must reduce their carbon footprint.
Joe Biden used this strategy to trim his tax bill. You can, too.
The former vice president and 2020 presidential contender and his wife Jill Biden reported about $10 million in income in 2017 from a pair of S-corporations, CelticCapri and Giacoppa. The two entities were paid for the couple’s book deals and speaking gigs.
The S-corps reported another $3.2 million in income in 2018.
While both S-corps generated a lot of income, they paid out modest salaries in comparison.
In 2017, the two companies paid the couple a combined $245,833 in wages. This increased to $500,000 in 2018.
That mean any amounts the Bidens received as a distribution wasn’t subject to the 15.3% combined Social Security and Medicare tax.
Biden said the richest 1% earn 50% of income, which is yet another lie.
The IRS says the richest 1% pay almost double their share of income in federal income taxes. Doesn’t that seem much more than fair?
Summary of the Latest Federal Income Tax Data, 2021 Update
The share of reported income earned by the top 1 percent of taxpayers fell slightly, to 20.9 percent in 2018 from 21 percent in 2017. Their share of federal individual income taxes rose by 1.6 percentage points to 40.1 percent.
Biden says he will not raise taxes on anyone making under $400,000, but why would we believe him?
In 2009, Obama and Biden promised they would never raise taxes on anyone making under $250,000. They lied.
Why would we trust these known liars that if we just destroyed massive parts of our economy, raised taxes and opened borders, they could control temperatures, sea levels, and storm activity forever when they couldn’t even keep their word about our doctor, health plans, and premium costs?
Wouldn’t it be stupid to believe them now?
Obama Promised He Wouldn’t Raise Taxes on the Middle Class. He Lied.
Biden and other Democrats say they care about income and wealth inequality, but everything they propose transfers more power and money to the politicians and bureaucrats in D.C. who are already much wealthier than the rest of us.
One hundred days into Biden’s intentional destruction of anything related to coal and oil, and not one piece of scientific data to support the destruction and not one question from the media asking for the scientific data because facts don’t matter.
Biden claimed credit for the soaring economy and a million jobs, but the credit clearly goes to Trump, the vaccines, and the governors Biden called Neanderthals. The economists predicted massive growth this year before Biden and his policies took effect.
Biden did tell the truth that the people are not to blame for their economic problems last year, but he improperly blamed the virus instead of the government officials and their dictatorial edicts.
Biden said we survived the autocratic Trump, but it is Biden and his administration who are ruling by dictatorial edicts, not Trump.
Biden blamed Trump for the massive surge and crisis at the border even though his dictatorial edicts on his first day and his words saying 100% of unaccompanied children will be allowed to stay are the clear cause. He also is greatly enriching the cartels, which will increase crime and drug overdoses.
Trump’s low tax, fewer regulation policies gave us energy independence, record low unemployment levels for all races and education levels, rapidly rising wages for those at the bottom, and record low poverty levels at the end of 2019.
The Obama/Biden administration’s high tax, massive regulation polices gave us the slowest economic recovery in seventy years, so why would anyone destroy the successful policies and emulate the bad policies unless all he cares about is power?