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.
(Her #OnWhatOccasion fashion tweets are hilarious too.)
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?
— Carol Roth (@caroljsroth) March 26, 2024
The reason is that the White House straight up lied about it and the media has been saturated with this lie.
Let’s take a look (thread)...
Joe Biden has repeatedly claimed that the wealthiest pay only an 8% average tax rate, comparing it to working class tax rates.
— Carol Roth (@caroljsroth) March 26, 2024
That seems insane, so I investigated. pic.twitter.com/ezD73Xk8VE
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.
But since the media has abdicated that job, we'll let Roth do it.
I went to the White House site + looked at their “study”
— Carol Roth (@caroljsroth) March 26, 2024
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?
— Carol Roth (@caroljsroth) March 26, 2024
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.
They just made it up. Well, that tracks for the Biden administration.
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"
— Carol Roth (@caroljsroth) March 26, 2024
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.
— Carol Roth (@caroljsroth) March 26, 2024
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
— Carol Roth (@caroljsroth) March 26, 2024
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.
— Carol Roth (@caroljsroth) March 26, 2024
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.'
That's pretty on the nose.
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.
— Carol Roth (@caroljsroth) March 26, 2024
As Americans, what recourse do we have against these lies?
That is why we must spread the truth.
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
— Physics Geek (@physicsgeek) March 26, 2024
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.
Spot on thread…👇
— IT Guy (@ITGuy1959) March 26, 2024
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
You could have just stopped at, 'Never trust the federal government.'
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
— TeachThemWell (@stuffmyhusbuns) March 26, 2024
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
— will w. (@Willmvg) March 26, 2024
Great post by @caroljsroth on how the Biden administration is straight up creating another class warfare over taxes ⬇️⬇️⬇️ https://t.co/5uVcmeTAji
— Bill Burke 🇺🇸 (@TaxManBoston) March 26, 2024
Best thread of the day.
— Mike Opelka (@stuntbrain) March 26, 2024
Read.
Understand.
SHARE IT! https://t.co/FxvPaj8GJ5
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
— Cecilia Glennon (@CeciliaGlennon) March 26, 2024
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 rich ARE paying their fair share. And then some. We all are.
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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