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

Kid Rock
Todd Kirkland/Getty Images

Kid Rock Dragged After Donning A Truly Over-The-Top Outfit For His White House Visit

Singer Kid Rock was slammed for wearing a loud patriotic costume inside the Oval Office as Republican President Donald Trump signed an executive order on Monday against ticket scalping.

The rocker's outfit consisted of a red, white, and blue jacket emblazoned with two eagles facing each other above the American flag with the number 250, a nod to America's upcoming 250th anniversary, and white stars on his sleeves.

Keep ReadingShow less
Screenshot of Bill Cassidy
CNBC

MAGA Senator Just Said The Quiet Part Out Loud With Epic Freudian Slip About Medicare

Louisiana Republican Senator Bill Cassidy was widely mocked following his inconvenient slip of the tongue during a CNBC interview as he mused about finding ways to "cut" Medicare before quickly correcting himself.

The exchange occurred after host Rebecca Quick pressed Louisiana Republican and former physician Bill Cassidy on how his party intended to fund the “trillion-dollar tax cuts” sought by President Donald Trump.

Keep ReadingShow less
Screenshot of Tim Sheehy
CNN

GOP Senator Gets Blunt Reality Check After Comparing Trump Tariff 'Pain' To Home Renovation

Montana Republican Senator Tim Sheehy was criticized after he tried to compare the "short-term pain" of President Donald Trump's tariffs to home renovation, a claim so ridiculous that CNN's Kaitlan Collins quickly pushed back on the analogy.

Trump has repeatedly referred to April 2 as “Liberation Day,” pledging to impose tariffs—taxes on imports—to reduce U.S. reliance on foreign goods. He has framed these tariffs as “reciprocal,” aiming to match the duties other nations place on American exports.

Keep ReadingShow less
Susan Crawford; Elon Musk
Scott Olson/Getty Images (left and right)

Liberal Wisconsin Judge Calls Out Elon Musk In Victory Speech—And It's Everything

Liberal judge Susan Crawford called out billionaire Elon Musk in her victory speech after winning a seat on the Wisconsin Supreme Court, basking in successfully beating her Republican opponent Brad Schimel and ensuring that the nonpartisan court’s narrow 4-3 liberal majority remains intact despite Musk's efforts to sway the race.

Musk fueled the high-stakes race, having poured more than $20 million into supporting Schimel, according to state campaign records. That includes $3 million to the state Republican Party—$2 million of which was donated just last week. Due to state election laws, large contributions must be funneled through political parties before reaching candidates.

Keep ReadingShow less

People Describe The Worst 'Bonus' They've Ever Gotten At Work

Most of us have worked at one problematic workplace, with reasons ranging from toxic coworkers to terrible bosses to unlivable pay. Sometimes, it feels like a joke that the employees are even being paid at all!

But the biggest joke of all might be the end-of-year bonus, or lack thereof. They're at times so laughable, they take the cake for horrible work conditions, or are quite literally, a slice of cake.

Keep ReadingShow less