Rapper 50 Cent on Monday told his followers to vote for President Trump after seeing a graphic of Democratic nominee Joe Biden’s tax plan broadcast on TV.
The rapper, whose real name is Curtis Jackson, reacted to a CNBC graphic showing how much people earning more than $400,000 would have to pay in taxes under the Biden administration. According to CNBC, the combined federal and state tax rate for top earners in New York state would be 58%, New Jersey at 60%, California at 62.6% and New York City at 62%. The final stat apparently upset the hip-hop mogul.
“WHAT THE F**K! (VOTE ForTRUMP) ” he wrote on Instagram. “IM OUT, 🏃♂️💨F**K NEW YORK The KNICKS never win anyway. 🤷🏽♂️I don’t care Trump doesn’t like black people 62% are you out of ya f**king mind.”
“I just remembered I’m bankrupt, so I’m looking for a gracious loan can anyone help a brother out. LOL” he added in a follow-up post.
50 Cent continued to criticize Biden’s plan on Tuesday, calling it a “very, very bad idea.”
Biden says he would raise the top individual tax rate for taxable incomes above $400,000 from 37% to 39.6%, the rate before Mr. Trump was elected. A Social Security payroll tax surcharge of 12.4% would also be applied to income over $400,000, half of which is paid by employers, according to an analysis by the Tax Foundation, a D.C.-based think tank.
Then there’s the income tax rate for living in New York state, which currently ranges from 4% to 8.82%, depending on income and marital status. And if you live in New York City, there’s an added income tax rate between 3.078% to 3.876%
Single earners making under $400,000 would not pay more taxes under Biden’s plan, his campaign has said.
Last year, 50 Cent’s massive Connecticut mansion just reportedly– 84 percent less than what he first sought for the home. In 2015, the rapper but ended his case in 2017 when he agreed to pay $23 million over the span of five years.
Published at Tue, 20 Oct 2020 18:05:03 +0000-50 Cent says “vote for Trump” in response to Biden’s tax plan