Rapper 50 Cent appeared to double-down in his support for President Donald Trump after severely excoriating Joe Biden’s “very bad” tax plan on Monday.
“WHAT THE F***! (VOTE ForTRUMP),” the rapper, whose real name is Curtis James Jackson III, posted on Instagram. “I’M OUT. F*** NEW YORK The KNICKS never win anyway.”
“I don’t care Trump doesn’t like black people,” he added, “62% are you out of ya f***ing mind.”
After a whirlwind of speculation, the rapper doubled-down on Tuesday when he agreed with Trump senior adviser Katrina Pierson that he “don’t want to be 20cent.”
“Yeah, I don’t want to be 20cent. 62% is a very, very bad idea. I don’t like it,” he tweeted.
— 50cent (@50cent) October 20, 2020
I guess 50 cent don’t want to end up 20 cent. 🇺🇸 https://t.co/bqAOprgOlP
— Katrina Pierson (@KatrinaPierson) October 19, 2020
CNBC reported on Monday that the Biden tax plan would give New York City and California a tax rate of 62% for earners of more than $400,000 annually
“In California, New Jersey and New York City, taxpayers earning more than $400,000 a year could face combined state and local statutory income tax rates of more than 60%,” said the report.
In California, New Jersey and New York City, taxpayers earning more than $400,000 a year could face combined state and local statutory income tax rates of more than 60%.
Few taxpayers pay the full statutory rates, which don’t include deductions, credits, offsets, loopholes and lower tax rates on other sources of income.
If the Democrats win the Senate and can pass legislation removing the $10,000 cap on state and local tax deductions, the combined state and local tax rates for top earners could be even lower.
“Under Biden’s plan, the effective tax rate for the top 1% would increase from 26.8% to 39.8%, according to the Tax Policy Center,” the report continued. “That means top earners in California and New York City would pay effective state and federal tax rates of around 53% — compared with the roughly 40% they pay in effective rates today. What’s more, if the Democrats win the Senate and can pass legislation removing the $10,000 cap on state and local tax deductions, the combined state and local tax rates for top earners could be even lower.”
While not enthusiastically gung-ho about Trump, 50 Cent is just one of many rappers to come out critical of the Democratic Party or Democrat proposals. Rapper Ice Cube, for instance, recently worked with the Trump administration on a “Platinum Plan” for black Americans that he claims the Democrats kicked to the curb until after the election.
“Facts: I put out the CWBA (contract with black America),” the rapper said on Twitter. “Both parties contacted me. Dems said we’ll address the CWBA after the election. Trump campaign made some adjustments to their plan after talking to us about the CWBA.”
Though rapper Diddy did endorse Joe Biden for president and denounced Trump, he did concede that Democrats have done little to help black people and created his own “Our Black Party.”
“Things have got too serious. It would be irresponsible of me to have us hold our vote hostage,” Diddy said. “But it would also be irresponsible of me to let this moment go by and not make sure going forward we are doing what it takes to own our politics.”
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