50 Cent has seemingly endorsed Donald Trump for president after voicing his concerns about proposed tax increases for top earners under Joe Biden.
Posting on Instagram, the rapper conceded that “Trump doesn’t like black people” and shared a screenshot from CNBC to illustrate his concern over apparent tax raises.
According to the somewhat misleading screenshot, top earners face 62 percent tax in his native New York.
“WHAT THE FUCK! (VOTE ForTRUMP) IM OUT. FUCK NEW YORK The KNICKS never win anyway,” he wrote.
“I don’t care Trump doesn’t like black people 62% are you out of ya fucking mind.”
But as Consequence Of Sound notes, the hefty tax rise isn’t quite what it seems.
In one CNBC article they noted in the fourth paragraph that, “Of course, few if any taxpayers pay the full statutory rates, which don’t include deductions, credits, offsets, loopholes and lower tax rates on other sources of income.”
The “other sources of income” are said to be particularly important, given that most millionaires and billionaires get large chunks of their money from capital gains.
When further number-crunching comes into play, it’s confirmed that only income over $400,000 would be taxed at the higher rate of 39.8%, with the first $399,999 taxed at lower marginal rates.
It means that there is no realistic situation where the rapper will actually end up paying 62% of his income in taxes.
However, the endorsement was enough to receive the support of right-wing commentator Candace Owens, who posted a series of praising emojis on the rapper’s Instagram page.
In contrast, the rapper previously described Trump’s presidency as “an accident” and claimed that he had been offered $500,000 to endorse his campaign.
The endorsement comes ahead of November’s election, with Trump currently trailing behind Joe Biden in national polls.
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October 20, 2020 at 01:41PM
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50 Cent endorses Donald Trump for president even though he “doesn’t like black people” - NME
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