Tax Chats Chatting about President Biden's 2023 State of the Union Address
Feb 8, 2023
37:59
President Biden gave the State of the Union address last night. Scott and Jeff talk about the tax components of the address. They discuss large corporations which pay little in tax, billionaires who pay little in tax, and taxing share repurchases., and "apples and elephants comparisons."
Also, Jeff explains why it is impossible for pretty much any taxpayer, let alone those making under $400K a year, to pay a penny more in taxes under any of President Biden's current or former tax proposals (IRC 985 and 6102 come into play!).
Note: We base this episode off of the official script of the State of the Union address (https://www.whitehouse.gov/state-of-the-union-2023/), which omits some fabulous adlibbing by President Biden.