The rate that they're using aren't the true tax rate that every individual is paying.

So we all talk about taxes. We hate taxes, right? Death and taxes. Two things that we have.

And President Biden, he recently outlined what he's calling the American Families Plan. That was back in April.

It's $1.8 trillion. And one of the ways that he

proposes paying for us is he got into the IRS's budget and he increased it by $80 billion.

So if you start doing all the math, over a 10-year period, they hope to recover taxes from people

who have just not been paying their taxes or

they haven't been paying enough taxes. And they think that they can get $700 billion.

They're going to use this money to pay for child care. Okay, that sounds really great. And they're

going to go get people who are cheating on their taxes, right? So that should be worthwhile. But now we have

news from Perpublica that these billionaires, and you know their names, Elon Musk, Jeff Bezos,

Michael Bloomberg, Warren Buffett, George Soros, and they're actually going to make more money

in the time that it takes us to do this podcast than most Americans will make in their

entire lives. And when we start looking further into their money, that they are not paying

anything in federal income taxes. I mean, nada. I'm talking about zero dollars. Like take Warren

Buffett, Urkshire Hathaway, his wealth growth, $24.3 billion.

His total income that he reported was $125 million.

He paid $23.7 million, which is his true tax rate is 0.10%.

Not 10%, 0.10%. Not 10%, point 10%. Jeff Bezos, Amazon.com, wealth growth, $99 billion,

total income reported, $4.2 billion. I know. It's hard to drop your heads and arms around

these type of numbers. Total tax taxes paid $973 million.

Okay, remember, he earned $4 billion and he paid almost $975 million.

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