boberic Loc: Quiet Corner, Connecticut. Ex long Islander

In his latest proclamation Biden has said he will not raise taxes on anyone earning over $400 thousand per year. Sounds good right? But it ignores a few things. Many very wealthy people don't earn that taxable amount. Most of their wealth is not in income, but in net worth. Someone worth 10 million is very wealthy. But tyhey do NOT earn that much on a yearly basis. Some with much more net worth will simply choose to earn less taxable income. A billionaire does not earn a billion every year. Their money is invested in various things. Tyhat money is in stock, real estate etc. They can send money overseasw, as many did, but Trump's policies brought much of it back. They can invest in offshore companies and have no taxable income. Those very wealthyy people can hire very good tax lawyers so as to avoid taxable income. In fact the government will collect less tax money as a result. That policy is just an attempt to mislead the dem v**ers (some of which) do not know the difference between a stock and a bond. Furthermore muc earned income is not taxable as income but in capital gain, which carries a much lowere tax rate.

Fotoartist Loc: Detroit, Michigan

Earning Under $400,000 per year.

Taxes? What kind? Earned, Unearned, Payroll, Income, Excise, Dividend, Savings, Wealth, Direct, Indirect?

Sounds like he is lying through his false teeth.

boberic Loc: Quiet Corner, Connecticut. Ex long Islander

He is talking about income. Whether personal, or business. --income .Earned income

tradio Loc: Oxford, Ohio

What taxes? I thought everything was going to be free.

DaveO Loc: Northeast CT

The geniuses got it all figured out!

LWW Loc: Banana Republic of America

High income tax rates protect the uber wealthy from uppity entrepreneurs ... Biden and the Dems know this, they count on the dumb masses not knowing it.

jeep_daddy Loc: Prescott AZ

Except for some pro sports figures like Mike Trout that makes $30M per year. I would bet he gives about half to Uncle Sam and the state he claims to be his residence. That's $15M/year in taxes. On the other hand, someone with that kind of income can afford it. But some of us with low income can't afford to go from 20 something percent to taxes up to 50% in taxes. You know, that's what people in the UK pay? They pay almost 50% in taxes. Then on top of that, they pay TV tax for each TV they have, and a lot more but I don't have time to list them all. Got to go somewhere.

National Park

How many bankruptcies had Biden had?

boberic Loc: Quiet Corner, Connecticut. Ex long Islander

How many p**********l terms has Biden had? both are stupid questions

travelwp Loc: New Jersey

Bankruptcies are a normal part of business. The real question is what has Biden done for his v**ers in the last 50 years he has been in office. (Just show 3 or 4, don't fill the page).

For the record, these businesses filed for bankruptcy in 2020, so far:

Stein Mart (Aug. 12)
Tailored Brands (Aug. 2)
Lord & Taylor (Aug. 2)
Ascena (July 23)
The Paper Store (July 14)
RTW Retailwinds (July 13)
Muji USA (July 10)
Sur La Table (July 8)
Brooks Brothers (July 8)
G-Star Raw (July 3)
Lucky Brand (July 3)
GNC (June 23)
Tuesday Morning (May 27)
Centric Brands (May 18)
J.C. Penney (May 15)
Stage Stores (May 11)
Aldo (May 7)
Neiman Marcus (May 7)
J. Crew (May 4)
Roots USA (April 29)
True Religion (April 13)
Modell's Sporting Goods (March 11)
Art Van Furniture (March 9)
Bluestem Brands (March 9)

DaveO Loc: Northeast CT

You really need to get more familiar with tax structure before spouting baseless numbers.

FRENCHY Loc: Stone Mountain , Ga

96 back to back.

FrumCA

What an i***tic question. Biden has lived off the public dole his entire life. He's never run a business or taken any risks to do so of course he hasn't had any bankruptcies.

dennis2146 Loc: Eastern Idaho

How many Billions is Biden worth?

Dennis

DaveO Loc: Northeast CT

Even a bigger question is the validity of Trump's claims. Come on IRS!