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The Fox News Rundown

The 'Tax The Rich' Debate

The Fox News Rundown

FOX News Podcasts

News, Daily News, Politics

3.41.7K Ratings

🗓️ 30 March 2022

⏱️ 30 minutes

🧾️ Download transcript

Summary

On Monday, President Biden unveiled his $5.8 trillion budget proposal for 2023, which featured boosts to social spending and defense but most notably included a wealth tax on billionaires. The Biden administration has explained this tax would target the top 0.01 percent of American households to include the accruing value of unrealized capital gains. This billionaire tax proposal is already facing a difficult path forward, with GOP lawmakers against the proposal altogether and moderate Democratic lawmakers wavering on their support. Former Economic Adviser during the Obama Administration and CEO of 32Advisers Robert Wolf and Professor of Business and Economics at The King’s College Brian Brenberg join to break down what a billionaire tax would look like and the kind of economic impact it could have. The 94th Oscars Ceremony left audiences speechless this past Sunday when comedian Chris Rock was slapped by Will Smith after making a joke about the actor's wife. Smith went on to win the Academy Award for Best Actor and later apologized for the altercation following the Academy of Motion Picture Arts and Sciences' condemnation of Smith's actions. FOX Across America's Jimmy Failla, FOX Nation's Tyrus, and comedian Alli Breen join the Rundown to talk about the controversial slap and what it means for discussions about race, masculinity, and the state of comedy in America today. Plus, commentary from Pastor Robert Jeffress of the Dallas First Baptist Church. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's time to take the quiz.

0:01.7

Five questions, five minutes a day, five days a week.

0:04.3

Take the quiz every weekday at the quiz dot fox and then listen to the quiz

0:08.5

podcast to find out how you did.

0:10.2

Clay, share, and of course listen to the quiz at the quiz.

0:13.7

I'm Martha McCallum. I'm Bill Hammer.

0:16.3

I'm Shannon Brieem and this is the Fox News rundown.

0:19.2

Wednesday, March 30th, 2022,

0:25.0

on Lisa Brady.

0:26.8

Tax The Rich makes a comeback in the President's proposed budget,

0:30.8

but it's a long way to the finish line.

0:33.0

And so I think that although many of the Democrats want to change taxation on wealthy

0:40.3

individuals and corporates, I'm not so sure at this point there are 50

0:44.6

votes to get there. I'm Chris Foster. Will Smith hitting Chris Rock strike some

0:49.5

other comedians as a sign of the times. We've had five years of people treating jokes as hate crimes.

0:54.0

This is why you have to defund the joke police because there's a lot of people out there who cannot

0:57.8

distinguish between someone making fun of you and literally attacking you.

1:02.0

And I'm Robert Jeffress. I've got the final word on the Fox News rundown. The nearly six trillion dollar budget blueprint unveiled by President Biden this week

1:17.1

brings back a familiar theme.

1:19.4

Now I'm a capitalist, but just I want, if you make a billion bucks great, just pay your fair share.

1:27.0

He's proposing what he calls a billionaire minimum income tax as part of an effort to spend more on things like police, health, education, and defense

1:35.2

while still cutting deficits.

...

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