I did some checking, and he isn’t providing the whole story on the tax portion.
They are saying 40.1% of total taxes paid NOT their rate. The uber wealthy use foundations and other means to hide income, plus unrealized capital gains, using loans, etc. The top 1% paid a 25.4% average individual income tax rate. I don’t make shit and mine is 22%.
Source: Zero Hedge
Dr. J Michael Burry of “The Big Short” fame went on a massive Twitter rant Tuesday, where he posted a series of tweets – including a fact check on Ivermectin, who’s actually paying their ‘fair share’ of taxes, how many genders exist, and a defense of former President Donald J. Trump.
On taxes, Burry – who has since locked his account – tweeted “Top 1%, 20.9% of income, 40.1% of taxes. Bottom 90% paid just 28.6% of taxes. Top 1% tax rate is 7X HIGHER than rate paid by the bottom 50%. Biden tells rich to “pay like everybody else does.” So, a tax cut for the rich? Or class warfare built on lies.”
Burry – the head of Scion Asset Management who rose to prominence after making a mega-successful bet against mortgages into the 2008 financial crisis, linked to this article from taxfoundation.org. His tweet comes as Congressional Democrats debate a $3.5 trillion social spending bill that hinges on taxing the wealthy.
On Trump, Burry noted that the former president “NEVER said to inject bleach,” adding “If you did, again, you fail Darwinism. If you still believe it, you did not read his comments, or you cannot read his comments, or you cannot hear his comments, or you just blindly follow people on the internet #TDS”
He then set the record straight on the oft-repeated lie that Trump called white supremacists neo-nazis “fine people” following the Charlottesville protest (and receipts).
Burry notes that Trump “DID suggest internal UV light was an interesting therapeutic approach” and was “Pilloried for it.”
“Turns out it is a valid approach that holds promise. Social media still jokes about this. That is how toxic the left is to COVID progress.”
On Ivermectin, Burry noted that it’s “a drug that works well in humans and other mammals,” adding “Ignorance reigns supreme in the media and on social media regarding this drug. Used in humans since the 70s, wide experience, safe, Period.” (And of course, receipts).
On Gender:
On self-hating Americans who trash the nation’s history, Burry wrote “Those with better tech conquer, brutally, all through history. How did the Aztek empire get so big, or the Romans? African wars to this day. Ridiculous to bash America or apologize for our founding. You think the Chinese will cut themselves 200 years after they conquer us?”
On the state of ‘persecution targeting conservatives’ – Burry says that it “permeates society from K through college and into the workforce,” adding “Media, Big Tech, Intelligence Agencies, DoJ, IRS are complicit. This is dead serious, and no laughing matter.”
Before making hundreds of millions as an investor, Burry was originally a doctor – earning his MD at the Vanderbilt University School of Medicine.
