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Drudge Retort: The Other Side of the News
Thursday, May 06, 2021

'This is about making the average multimillionaire pay just a fair share' "My Republican friends had no problem voting to pass a tax proposal " it expires in 2025 " that costs $2 trillion," Biden said, adding that none of that was paid for. In fact, he said, it "gave the overwhelming percentage of those tax breaks to people who didn't need it. The top one tenth of 1% didn't need it."

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"As for the argument Republicans gave in 2017, that it would generate a "great economic surge and growth," Biden said "everyone from the Heritage Foundation on has pointed out it hadn't done that."

Then he turned to his plans to hike taxes.

"The biggest 35 or 30 corporations didn't pay a single solitary penny last year, and they're Fortune 500 companies," Biden said. "They made $400 billion. They paid no taxes. How can that make any sense?"

Biden said sometime in the 2000s " he'd have his staff supply the exact date " the average CEO of a Fortune 500 company made about 36 times what the average employee of that corporation made.

"It's over 450 times as much now. As my mother would say, who died and left them boss?" he said before raising his voice while questioning how it can benefit the economy to have CEOs make so much more than workers. "No, seriously, what rationale, tell me what benefit flows from that?"

"We're not going to deprive" any executive "of their second or third home" or traveling privately by jet, he said.

"It's not going to affect your standard of living at all. Not a little tiny bit," Biden said, raising his voice, "while I can affect the standard of living of people I grew up with."

Inequality expert Sarah Anderson has testified in front of the Senate Budget Committee that the yearly gap between CEO pay and the pay of average workers is about 350 to 1.

Overall, the tax burden of Biden's proposal would fall squarely on the top 1% of American tax filers, who would pay an average additional $100,000 per year. Biden addressed his proposal to raise the income tax rate to 39.6% for Americans making over $400,000, which he noted was a return to the Bush-era level.

"Just raise it back to what it was before. It raises enough money from that savings to put every single person in community college who wants to go," he said. On that topic, he posed a question: "What's going to grow America more?" The options, he said, are "the super wealthy having to pay 3.9% less tax" or an entire generation "of Americans having associate degrees."

In closing, Biden said:

"This is about making the average multimillionaire pay just a fair share. It's not going to affect their standard of living" " pausing to whisper " "a little bit."

#1 | Posted by Corky at 2021-05-05 10:26 PM | Reply | Newsworthy 3

These tax hikes are popular. President Biden's infrastructure plan has polled extremely well, and when people found out it would be paid for by tax hikes on corporations and the 1% it got immediately more popular. I think everybody but the hardest core MAGAts, who will believe anything Dotard says, recognize that income inequality is a serious problem in this country, and the disparity has only been made worse by COVID, and that the rich do not pay their fair share.

#2 | Posted by _Gunslinger_ at 2021-05-06 03:54 PM | Reply | Newsworthy 1

You people are all clowns, you hold these politicians in such high regard that you are willing to turn on your fellow citizens simply because they don't fall into your political tribe. Both parties are failing this nation and we as a nation are far too stupid to even realize it. Websites like this are part of the problem and you perpetuate your hate for one side or the other on social media.

#3 | Posted by djohnson2052 at 2021-05-06 04:27 PM | Reply

you hold these politicians in such high regard that you are willing to turn on your fellow citizens simply because they don't fall into your political tribe.

You're a clown for suggesting the MAGA crowd is undeserving of being turned on.

It's not a mere difference of opinion that makes the MAGA crowd outcasts. It's that they're authoritarian -------- who are no longer worth engaging with when it comes to deciding the direction and governance of our country.

#4 | Posted by jpw at 2021-05-06 04:37 PM | Reply | Newsworthy 3

Both parties are failing this nation and we as a nation are far too stupid to even realize it.

Womp womp. Sure thing, sport.

#5 | Posted by jpw at 2021-05-06 04:37 PM | Reply

#3

The two sides are not the same as far as policies that benefit most of the American people. To say they are is either devout ignorance or flippant whataboutism.

Which is, of course, where most so-called libertarians, these days usually masked former GW voters, hide.

#6 | Posted by Corky at 2021-05-06 05:16 PM | Reply

You people are all clowns, you hold these politicians in such high regard that you are willing to turn on your fellow citizens simply because they don't fall into your political tribe. Both parties are failing this nation and we as a nation are far too stupid to even realize it. Websites like this are part of the problem and you perpetuate your hate for one side or the other on social media.

#3 | Posted by djohnson2052

No people who blame both sides are the problem.

Get back to us once BOTH SIDES have nominated, elected, and supported a criminal con man who takes corruption to a new level, tries to start a violent insurrection and end democracy, gets impeached twice for serious crimes, and let off the hook each time by cowards in his party. And when BOTH SIDES start a cult based on conspiracy theories about microchip vaccines and jewish space lasers.

Then you can say both sides are the problem. Until then, your side dominating this game.

#7 | Posted by SpeakSoftly at 2021-05-06 05:32 PM | Reply | Newsworthy 2

#3 | POSTED BY DJOHNSON2052

Have a point? Have you identified the enemy? Maybe it's you that is the clown.

#8 | Posted by LegallyYourDead at 2021-05-06 06:01 PM | Reply

".... Both parties are failing this nation and ...."

This is a typical right wing talking points. When your side is collapsing because you have zero arguments and zero ability to defend your side, you try to color both sides as the same. This is classic sports strategy... If you can't win outright, at least go for a tie.

And coloring both sides as the same is the reason we are in this mess. When that argument takes hold people stay home and don't vote. And then the right wing wins again because they know how to use hate and fear to get out the vote.

And over time, when Republicans win again and again, both parties start moving more and more to the right.

Eisenhower, Hebert Hoover, Reagan and even Nixon would be appalled at how far to the right the R party has moved. And Kennedy, LBJ and FDR would be appalled at how far the Democratic party has ALSO moved to the right wing.

And Biden now is only asking for a tiny correction back towards the middle and he's a socialist communist radical.

#9 | Posted by prius04 at 2021-05-06 08:00 PM | Reply | Newsworthy 1

"This is a typical right wing talking points."

I know right!
Since 2017, Have you ever heard anyone even vaguely left of center make a "both sides " comment?
Trump politicized that meme after claiming there were good people on both sides.
Only White Nationalists think there were good people on both sides at Charlottesville.

#10 | Posted by snoofy at 2021-05-06 08:09 PM | Reply

It's dumb to even defend it. There is no reason to. It's an opinion. He and his party believe this is what is right. The other side is going to argue it and make it seem like the worst thing ever in history, just like Dems did for the last 4 years, Reps did the 8 years before that, Dems did the 8 years before that, etc. It's all opinion. So just state what you are going to do and why. You don't have to defend the why.

What really is sorely lacking, of course, is not making stipulations about the negative outcomes. Such as as corporate taxes increase, so do prices of products. Costs don't just get absorbed, they get passed on to the customer. Everyone knows this. So what is Biden's plan to stop that from happening? THAT'S what needs to be discussed, not spending time defending something the other half of the country is going to disagree with no matter what. In fact, making policies with negative safety nets in mind may actually cause more people from the other side to AGREE with the plan. Probably not but it's still worth a shot.

#11 | Posted by humtake at 2021-05-07 11:51 AM | Reply

It's all opinion.

Yawn.

I love it how the right has taken this new tactic. Declaring everything an opinion which, depending on the context and their intent, either means the statement up for debate is untrue and shouldn't be given much credence or it's THEIR opinion and because it's THEIR opinion it must be respected and you have to treat it as if it's valid.

All it shows is intellectual lightweights trying to play in the big boy game.

#12 | Posted by jpw at 2021-05-07 12:10 PM | Reply | Newsworthy 1

So what is Biden's plan to stop that from happening? THAT'S what needs to be discussed, not spending time defending something the other half of the country is going to disagree with no matter what. In fact, making policies with negative safety nets in mind may actually cause more people from the other side to AGREE with the plan. Probably not but it's still worth a shot.

#11 | Posted by humtake

There is no point discussing ANYTHING with your side. Stop pretending you're reasonable people who will respond to reasonable proposals. Youre a cult of lunatics who worship a con man and totally oppose anyone who doesn't also worship the same con man.

Biden defeated the con man, so your cult will oppose him on everything no matter what. End of story.

#13 | Posted by SpeakSoftly at 2021-05-07 02:11 PM | Reply

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