The Damage Report
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Even Ben Shapiro Doesn't Know What He's Saying Here
Posted
February 9, 2023
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February 9, 2023
17,310
1,038
275
7.59%
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9:17Now PlayingFar-right commentator, Ben Shapiro, goes off on taxing the rich while attempting to rip on President Biden's State of the Union economic points. John Iadarola and Ben Carollo break it down on The Damage Report.
Read more here:
Five key economic points in Biden’s 2023 State of the Union address to Congress
"Biden renewed his call for levying a tax on billionaires and corporate stock buybacks to reduce the federal deficit.
“The tax system is not fair; it’s not fair,” Biden said. “The idea that in 2020, 55 of the largest corporations in America, of Fortune 500, made $40 billion in profits and paid $0 in federal taxes? $0? Folks, it’s simply not fair.”
The idea was popularized by progressives like Sens. Elizabeth Warren and Bernie Sanders in the 2020 campaign. Biden has vowed to not raise taxes on Americans earning under $400,000 annually.
“Now because of the law I signed, billion-dollar companies have to pay a minimum of 15%, God love them,” Biden said to jeers by Democrats. “15%! That’s less than a nurse pays!”
Biden previously proposed a 20% tax on billionaires in March of last year as part of his federal budget. In Tuesday’s State of the Union address, Biden called on Congress to “finish the job.” The proposal did not gain much traction then and is unlikely to go anywhere in the Republican-controlled House."
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