Carol Roth DEMOLISHES the Biden Administration's lies about the reality of income tax rates

We are huge fans of author and entrepreneur Carol Roth here at Twitchy. We hope our readers are too. It's not just that Roth is smart. Plenty of conservatives are smart. And it's not just that she's fearless in taking on the left. Lots of conservatives are that too.

What makes Roth unique as a conservative commentator and small business advocate is that she has a talent for taking complex issues -- topics that can be very confusing -- and makes them incredibly easy to understand. That's not easy, but Roth is the best at it.

With Democrat politicians pulling out one of their old standby messaging points recently, namely demanding the 'uber-rich' pay their 'fair share' in taxes, last night Roth turned her attention to this issue with a devastating thread about how much Biden and Democrats lie when they say billionaires only pay an eight percent tax rate, and how much the media just picks up on those lies without question and propagates them like the apparatchiks they are.

So, let's settle in and enjoy Roth showing us how much the Biden administration is lying about tax rates on the rich.

Why is it that Americans are so uninformed about how much in taxes the wealthiest Americans pay?

The reason is that the White House straight up lied about it and the media has been saturated with this lie.

Joe Biden has repeatedly claimed that the wealthiest pay only an 8% average tax rate, comparing it to working class tax rates.

Imagine that. Someone taking what the President says and investigating to try to verify it. We swear we used to have a time-honored institution in America whose job that was.

I went to the White House site + looked at their “study” The study was not based on tax records or even income (which is what is tax rates are based on). The study said they included UNSOLD STOCK... pic.twitter.com/471NmmdNXr

Unsold stock. Now, we're just simple Twitchy writers here, but we're pretty sure that if you hold stock, that has value sure, but it is not 'income.' So how can a study of 'income tax rates' include that as part of the calculation?

I was confused. What is income from unsold stock? Dividend rates don’t get you there, so what do they mean? What they are using is not INCOME at all, it is stock appreciation, NOT realized. This-again- is a made-up proxy of a wealth tax.

This is not how income tax works, and it is straight up a lie to say this is an income tax rate for billionaires and portray it as an average tax rate of the "wealthiest" They then have the nerve to compare a fake wealth tax with the income that everyone else pays pic.twitter.com/7f6tXKLSfO

This is intentional. The media has picked it up. They want you to believe billionaires only pay a 8% income tax rate, which is false. They want you to believe it so you give them permission to pass a wealth tax, which they will promise won’t be used on you, but eventually will.

They lie about average tax rates for the rich in order to create a new tax. Then, inevitably that tax gets applied to people who are not rich.

We recall when Biden said previously that 'no one making under $400,000 per year' would see a tax increase in his administration. That's weird because when this writer filed his 2022 and 2023 tax returns, our taxes were MUCH higher than they had been in previous years.

This is what Google looks like for the query "what tax rate to millionaires pay", based on the misleading study and their lies: pic.twitter.com/tV1Vl270eA

Of course, Google is going to steer people toward the lie and not the truth. Everything that Google does to manipulate its search results is designed to advance a liberal agenda.

Intentionally nefarious. Billionaires will find loopholes. The Biden administration hires more IRS agents and lowers reporting requirements to $600 (which they did in the American Rescue Plan for sites like Esty, Venmo, etc), not for billionaires, but to come after YOUR WEALTH.

Nefarious. We like that word. It is fitting that in the 2023 movie of the same name, 'Nefarious' was the name of the demon who said about humanity, 'You are a piece of meat and a means to an end.'

Roth's last tweet in her thread provides the obvious conclusion about WHY the Biden administration lies.

It’s pure, engineered class warfare and intentional misinformation. They want a class war to pass a wealth tax.

It is difficult to spread the truth when not just the administration, but also their media lackeys and huge corporations like Google are so prolific in spreading the lie. But many are doing so and Roth is one of the best at it.

Carol speaking truths that my lefty friends will completely ignore. https://t.co/EjmKaupaJx

Leftists will ignore it because the truth is their enemy. But there are still plenty of people who need to hear it, across the country.

And a pro tip related to this: Never trust a “study” promoted and/or funded by our federal government.

It was either maliciously manipulated as was the case here, or purposely set up to achieve the desired conclusion, as we saw over and over with Covid (e.g.… https://t.co/HOMeRYKIZQ

Taxing unrealized gains won’t hurt billionaires as much as it will completely destroy the middle class. And the elderly. Home equity - taxed, retirement investments - taxed. https://t.co/pD6xEH1sxB

It ALWAYS hurts the middle class the most when the government says they're 'going after the rich.' Always.

Great thread here by an incredibly smart lady. She lays out the number manipulation happening by the White House, using false claims on tax rates, and his it will affect everyday citizens. Please read and share. https://t.co/YQWI9XSEXb

Great post by @caroljsroth on how the Biden administration is straight up creating another class warfare over taxes ⬇️⬇️⬇️ https://t.co/5uVcmeTAji

Yes, share it. Let people see how they are being lied to. And for all of the 'disinformation experts' out there (such as the one recently featured on 60 Minutes), somehow they always miss the 'disinformation' that comes out of the top levels of government -- at least when a Democrat is in the White House.

I worked for entrepreneurs and at a tax firm for many years. The idea that wealthy people only pay 8% income tax is a complete falsehood. Carol has uncovered the completely disingenuous way that the White House makes this claim. https://t.co/eiywKsL9Op

Roth didn't get into this part in her thread, but the truth about the wealthiest Americans -- 'the one percent' -- is that they provide more than 25 percent of the government's overall tax revenue. The top 10 percent pay almost 60 percent of that pie. When you expand that to the top 50 percent, that constitutes EIGHTY PERCENT of tax revenue.

The problem is not that the government doesn't tax Americans of all income classes enough. The problem, of course, is that they spend FAR too much.

But don't tell that to Washington. God forbid they ever stop blasting through OUR money like drunken sailors on weekend shore leave.

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FYI. The Biden Admin plans on taxing unsold investments? FJB!

1 posted on 03/27/2024 6:20:33 PM PDT by NetAddicted

Love her, very ingelligent woman.

Once the dems have a bit more power you can bet they will implement a wealth tax - first on super rich and then everyone else above some frozen threshold that becomes effectively lower over time with inflation.

3 posted on 03/27/2024 7:17:28 PM PDT by plain talk

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