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Elon Musk Destroys Biden’s Claim…

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(RepublicanWire.org) – Elon Musk presented a few choice statistics to President Joe Biden via Twitter, who on Saturday tweeted a statement affirming his support for a minimum 25 percent tax on billionaires.

Musk, Twitter’s owner and founder of Tesla Motors, quickly pounced, citing a combined tax rate of 53 percent he paid on Tesla stock options at both the state and federal level. He added that he paid the most taxes of any individual in 2021, a claim that Forbes Magazine found likely to be true based on stock sales worth nearly $13 billion that year.

Musk’s response garnered nearly 30,000 retweets, over three times the number who retweeted Biden’s original statement. Readers added context to Biden’s tweet as well to show that the president’s claim relies on taxing unrealized gains on unsold stocks as income, something not eligible to be taxed under current IRS laws. Nearly 18,000 tweets were sent in response to Biden’s statement, a “ratio” that suggests more people disagreed than agreed with the statement.

Following up to his original tweet, Musk agreed that tax-avoidance schemes by the ultra-rich should be discouraged. He also called for ending GRATs, or grantor retained annuity trusts, a type of financial instrument often used to make high-dollar gifts to family members without being taxed.

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Trump’s Prediction Is Coming True…

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(RepublicanWire.org) – A clip of former President Donald Trump arguing that the election of President Joe Biden would lead to a plummeting stock market circulated online on Friday after Wall Street saw a bloodbath.

The Federal Reserve increased targets for the federal funds rate by 0.75% on Wednesday afternoon, sending the Dow Jones Industrial Average, which tracks 30 of the most prominent companies on American exchanges, tumbling more than 500 points. After stagnating on Thursday, the index fell another 500 points by early Friday afternoon to 29,400. On January 20, 2021, the day of Biden’s inauguration, the Dow had closed slightly above 30,900.

“They said the stock market will boom if I am elected,” Trump said during a 2020 presidential debate. “If he’s elected, the stock market will crash.”

According to conservative polling group InteractivePolls, which posted the clip from the debate to social media, the tech-heavy NASDAQ had risen 44% once Trump was 612 days into his first term. At the same point in Biden’s tenure, however, the index has fallen more than 19%.

Officials from the Biden administration have nevertheless claimed that the economy is strong. When Fox News correspondent Peter Doocy pressed White House Press Secretary Karine Jean-Pierre on a poll showing that 83% of Americans believe the economy is “poor or not so good” earlier this year, she doubled down on the notion that the economy has improved since Biden assumed office.

“What I’m trying to say to you is that the economy is in a better place than it has been historically,” Jean-Pierre said. “And so, we feel, here at this administration and other experts as well … we feel that we are in a good position to take on inflation. We are in a good position to really start really working on lowering prices.”

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Biden Contradicts His Administration’s Message…

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(RepublicanWire.org) – On CBS Evening News Monday anchor Norah O’Donnell and senior White House correspondent Ed O’Keefe reported on President Joe Biden’s disastrous interview with 60 Minutes Sunday. As part of the report, O’Keefe noted how many of Biden’s statements needed to be corrected or clarified by his handlers afterward. 

Biden was such a trainwreck that O’Donnell opened with this stunning report: “there is fallout tonight after President Biden’s interview with 60 Minutes, comments he made about the pandemic, led stocks of three COVID vaccine makers to plunge, shares falling as much as nine percent.” 

“President Biden’s conclusion on 60 Minutes Sunday that the COVID pandemic has ended prompted push-back from health experts and clarifications from top officials,” O’Keefe noted. 

“Make no mistake, people are still dying. And what the President is saying is that we all want to get back to where we were before COVID,” Health and Human Services Secretary, Xavier Becerra stated.

 CBS aired a soundbite of Fauci attempting to revive the pandemic by claiming “it is likely that we will see another variant emerge, and there’s already on the horizon.” 

Biden was also asked about whether he plans to run for reelection. 

“You say that it’s much too early to make that decision. I take it the decision has not been made in your own head,”  Pelley remarked.

Biden said, “look, my intentions I said to begin with is that I would run again, but it’s just an intention.

Is it a firm decision, that I’d run again? That remains to be seen.

O’Keefe ended by reporting that “the President also told 60 Minutes the U.S. Military would defend Taiwan against a quote unprecedented attack from China.” 

“White House officials later clarified U.S. White House policy towards Taiwan hasn’t changed. The Chinese called the President’s comments, well they said they sent the wrong signal,” O’Keefe noted before tossing back to O’Donnell. 

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Pelosi Just Keeps Getting Away With It…

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(RepublicanWire.org) – House Speaker Nancy Pelosi’s husband Paul bought up to $5 million in stock of a computer chip company ahead of a vote on a bill next week that would hand billions in subsidies to boost chip manufacturing, a financial disclosure shows.

Paul Pelosi purchased 20,000 shares of Nvidia, one of the world’s largest semiconductor companies, on June 17, according to the speaker’s disclosure report released Thursday. Now, senators will convene as early as Tuesday to vote on a bipartisan competition bill, which allocates $52 billion to boost domestic semiconductor manufacturing and gives tax credits for production.

“It certainly raises the specter that Paul Pelosi could have access to some insider legislative information,” Craig Holman, a government affairs lobbyist for the left-wing think tank Public Citizen, said. “This is the reason why there is a stock trading app that exclusively monitors Paul’s trading activity and then its followers do likewise.”

Nvidia is a multinational corporation that designs and manufactures graphics processors and other technology, and is heavily reliant on semiconductors. The House passed a bill in February that included $52 billion in domestic subsidies for the semiconductor industry, and chip companies, including Nvidia, demanded Congress in June move forward on finalizing semiconductor subsidies for domestic manufacturing.

“The conference is stuck. And so it seems to me there are a couple of ways out of this, potentially,” said Senate Minority Leader Mitch McConnell Tuesday, noting that the bill would have a better likelihood of passing without the $52 billion funding for semiconductor manufacturing.

Republican South Carolina Rep. Ralph Norman told the DCNF the “optics” of Pelosi’s stock disclosure “are horrible.”

“Obviously Speaker Pelosi would be aware of the timing of this legislation over in the Senate,” said Norman. “On the heels of that vote, for anyone in her orbit to purchase seven-figures worth of stock of an U.S.-based chip manufacturer just reeks of impropriety.”

Paul Pelosi, who was charged with two alcohol misdemeanors in June after getting in a driving collision that led to his arrest, also disclosed that he sold up to $250,000 worth of Apple stock and up to $5 million worth of Visa stock. The speaker’s husband is an avid stock trader and purchased more than $6 million worth of Nvidia call options in 2021, filings show.

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