Most of the bad loan risks were for new energy companies. This is Silicon Valley Bank, they wouldn't be involved with republicans.
This is just Biden trying to get out ahead of the real story by blaming it on someone else.
I hope someone puts Hunter on suicide watch.Say...this is interesting...
https://notthebee.com/article/house...etting-money-from-the-chinese-communist-party
SMC79 too.I hope someone puts Hunter on suicide watch.
When I got elected, there were — I think it was 6- — don’t hold me to the exact number — 690 billionaires in America. There’s now a thousand. You know what the average federal tax they pay is? T-H-R-E-E percent. Three. They pay a lower tax rate than the custodians in this building. They pay a lower tax rate than any of you, basically.
And so, it’s just not fair. I think you should be able to be a billionaire if you can earn it, but just pay your fair share. Just pay something.
Jared Bernstein, a member of the White House Council of Economic Advisers, said Biden’s tax proposal will target big corporations and the wealthiest Americans while protecting taxpayers who earn $400,000 a year or less from tax hikes.
“The days of the top 1% paying less than teachers and nurses … those have got to be behind us as we inject fairness into the tax code to achieve fiscal rectitude,” Bernstein said in an interview Wednesday on CNBC’s “Squawk Box.”
[…]
During his State of the Union address … Biden urged Congress to pass his so-called billionaire’s tax, which proposes to impose a minimum 20% tax on households with a net worth of more than $100 million — a 12 percentage point increase from an average of 8% they currently pay.
Bernstein also defended the president’s tax rate on capital gains, which he initially proposed in 2021. If enacted, the 48.6% rate with a 3.8% net investment income on long-term capital gains and qualified dividends would rate among the highest in the developed world.
The tax rate would apply to those earning over $1 million.
Biden’s proposed wealth tax will also likely face another obstacle: it is blatantly unconstitutional.
To see how, we must turn to the text of the Constitution itself. Article I, Section 8 of the document establishes the “Power to lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States” with the stipulation that these measures must be uniform.
A separate clause in Article 1, Section 9 stipulates that “No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or Enumeration herein before directed to be taken.”
“The analysis from OMB and CEA economists estimates that the wealthiest 400 billionaire families in America paid an average of just 8.2 percent of their income – including income from their wealth that goes largely untaxed – in Federal individual income taxes between 2010 and 2018. That’s a lower rate than many ordinary Americans pay,” the 2021 post read.
In response, Twitter CEO Elon Musk disputed Biden’s tax claim.
“I paid 53% taxes on my Tesla stock options (40% Federal & 13% state), so I must be lifting the average!” the South African entrepreneur wrote. “I also paid more income tax than anyone ever in the history of Earth for 2021 and will do that again in 2022.”
“Would be curious to hear how these other ‘billionaires’ are so good at avoiding taxes!” Musk added in another tweet, after asking Twitter’s Community Notes feature to fact-check the statement.
Biden’s Twitter account fact-checked for dubious claim about the taxes billionaires pay
“Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share,” Biden’s tweet read. “I think you ought to pay a minimum tax of 25%. …nypost.com