Election 2012

Attention billionaires, Biden announces tax cut just for you

Attention billionaires, Biden announces tax cut just for you

Vice President Joe Biden’s campaign rhetoric took a mathematically bizarre turn on Friday when he told supporters that Republicans had passed a $500 trillion tax cut for 120,000 families.

That equals $4.2 billion per family.

And who are the rich folks getting these breaks?

Good question.

According to Forbes Magazine’s wealthiest persons in the U.S. list, Bill Gates still tops the chart as the richest, but he is only worth $66 billion.

Warren Buffett is also mega wealthy, but he is only worth $46 billion.

The federal government spent a little over $1 trillion last year to fund itself, and Congress has spent the U.S. into a $16 trillion deficit.

But as for that $500 trillion tax cut, we are simply at a loss to explain it.

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