Skip to content
Search AI Powered

Latest Stories

Joe Biden Hilariously Trolls Trump Over His Plummeting Truth Social Stock

Screenshot of Joe Biden; Donald Trump
@TheRecount/X; Mark Peterson/Pool/Getty Images

Joe Biden mocked Donald Trump's falling Truth Social stock with a jab about his tax plan versus Trump's tax plan.

President Joe Biden took a jab at former President Donald Trump's financial woes during a speech in Pennsylvania on Tuesday, eliciting laughter from the audience as he highlighted Trump's struggles with the stock price of Trump Media, which owns the social media site Truth Social.

Once reaching nearly $80 a share, the company's stock has seen a steep decline, closing at $22.84 on Tuesday. Trump, who owns about 60% of the company's stock, has consequently experienced a significant drop in his net worth, leading to his removal from the Bloomberg Billionaire Index.


The decline in stock price follows revelations from an SEC filing indicating that the company earned only $4.1 million in revenue last year while facing losses exceeding $58 million. Additionally, an auditor's note in the filing expressed doubts about the company's ability to "continue as a going concern."

Biden suggested that Trump and his policies are beholden to the billionaire class:

"Making big corporations very well to begin to finally pay their fair share [in taxes]. We're not asking anything that is unusual. Under my plan, nobody earning less than $400,000 will pay an additional penny. ...
"They're not going to pay an extra penny in federal taxes. That's a promise."

Then he quipped:

“If Trump’s stock in Truth Social ― his company ― drops any lower, he might do better under my tax plan than his.

You can hear what Biden said in the video below.

During his speech, Biden delivered another quip aimed at Trump's financial situation, humorously recalling an encounter with a "defeated-looking guy" who approached him for help with debt.

He added:

"I'm sorry, Donald, but I can't help you."

You can hear what Biden said in the video below.

Biden's audience laughed—and so did social media users who appreciated the president's trolling.



Trump's policies have largely benefited society's wealthiest.

According to the Center for Budget and Policy Priorities (CBPP), a progressive American think tank that analyzes the impact of federal and state government budget policies, the 2017 Trump-era Tax Act was "skewed to the rich," noting that:

"Households with incomes in the top 1 percent will receive an average tax cut of more than $60,000 in 2025, compared to an average tax cut of less than $500 for households in the bottom 60 percent."

The organization said last month that the tax cuts were "expensive and eroded the U.S. revenue base," remarking that at this moment there is "simply not enough revenue given the nation’s investment needs and our commitments to Social Security and health coverage."

According to economists Emmanuel Saez and Gabriel Zucman from the University of California at Berkeley, in their recent publication The Triumph of Injustice, the wealthiest 400 families in the United States paid an average effective tax rate of 23% in 2018. Surprisingly, this rate is slightly lower than the 24.2% paid by the bottom half of American households.

This disparity in tax rates reflects a longstanding trend of declining taxes on the wealthy. In 1960, the top 400 families paid a tax rate as high as 56%, which steadily decreased to 40% by 1980. However, the enactment of Trump's tax cuts marked a significant turning point.

Trump's tax cuts, considered one of his few notable legislative achievements, exacerbated the discrepancy in tax rates. The controversial tax package resulted in a 2.5% tax cut for the top 0.1% of U.S. households, pushing their tax rate below that of the lower 50% of American earners.

More from People/donald-trump

Screenshot of Michael Waltz
Fox News

Trump Official Dragged After Suggesting 'Atlantic' Editor 'Hacked' Into Signal Group Chat

Speaking to Fox News personality Laura Ingraham, national security adviser Michael Waltz suggested that Atlantic editor Jeffrey Goldberg hacked his phone to gain access to a Signal chat with high-level Trump administration officials, particularly Defense Secretary Pete Hegseth, discussing military strategy surrounding war strikes in Yemen.

Waltz made this claim even though he had previously acknowledged setting up the Signal group in question, while President Donald Trump suggested that it was one of Waltz’s associates who added Goldberg.

Keep ReadingShow less
Denzel Washington
Ivan Romano/Getty Images

Denzel Washington Sparks Debate After Pushing Back On Being Called A 'Hollywood Actor'

If you ever get a chance to talk to Denzel Washington about his acting craft, be careful how you address him.

Big-time actors Denzel Washington and Jake Gyllenhaal are currently starring in a Broadway rendition of Othello, which is the first Shakespeare play to be produced on Broadway in more than 40 years, alongside other big actors and producers traditionally found in Hollywood-based productions.

Keep ReadingShow less
Pedro Pascal
Jimmy Kimmel Live/YouTube

Pedro Pascal Left Red-Faced After Photo Reveals His Bonkers Morning Coffee Order

There are some things that should be between you and the person you worked with to get it: your medical prescriptions, the number of packages you receive from online shopping, and your coffee order.

Actor Pedro Pascal was recently being interviewed on Jimmy Kimmel Live when the host brought up how a paparazzi had accidentally revealed Pascal's coffee order in an image from last year.

Keep ReadingShow less
Gwyneth Paltrow; Meghan Markle
Stephane Cardinale - Corbis/Corbis via Getty Images; Samir Hussein/WireImage

Gwyneth Paltrow And Meghan Markle Epically Shut Down Rumors That They're Feuding

The newest Hollywood feud is the one in which actor Gwyneth Paltrow and Meghan Markle are at each other's throats after Paltrow mocked Markle's new Netflix show.

The only problem—it apparently never happened.

Keep ReadingShow less
Screenshot of Donald Trump
Newsmax

Trump Slammed After Touting Plan To Financially Compensate Pardoned Jan. 6 Rioters

President Donald Trump is facing criticism after suggesting the creation of a "compensation fund" for individuals who were pardoned after participating in the January 6, 2021, attack on the Capitol.

In one of his first official actions upon returning to office, Trump granted sweeping clemency to nearly 1,600 people charged in connection with the riot. He issued pardons to most defendants and commuted the sentences of 14 members of the Proud Boys and Oath Keepers militia, many of whom had been convicted of seditious conspiracy.

Keep ReadingShow less