Rapper 50 Cent has named Donald Trump president because of his favorable tax policy for the rich – and said he doesn't care if the Republican "doesn't like black people".
The 45-year-old tweeted a recording of the tax rates proposed by Democratic candidate Joe Biden and fellow campaigner Kamala Harris.
The Biden proposals could affect those who earn more than $ 400,000 a year, with rates of 62.6 percent for those who live in California and 62 percent for people who live in New York City .
The rapper If I Can & # 39; t Rapper wrote: & # 39; WHAT THE F ***! (VOTE ForTRUMP) IM OUT. F *** NEW YORK The KNICKS never win anyway. & # 39;
He added, "I don't care that Trump doesn't like black people. 62% are you crazy."
The tax rates would not apply to anyone earning less than $ 400,000 a year, which is about 98.2 percent of Americans.
The latest: 50 Cent, 45, Donald Trump endorsed his tax policy in a tweet on Monday, saying he didn't care that Trump doesn't like black people.
50 Cent tweeted a recording of the tax rates that Democratic candidate Joe Biden and fellow campaigner Kamala Harris are proposing in their administration
Biden has pledged to raise taxes for those who earn more than $ 400,000, but has insisted that there will be no new taxes beyond that.
The current top statutory tax rate in the US is 37 percent, with the average earner in the highest tax bracket paying 26.8 percent after tax breaks, including gaps, deductions, exemptions, credits, and preferential rates.
It's not the first time 50 Cent has endorsed Trump – apparently he's showing his support for the Republican ahead of the 2016 election.
In March 2016 he posted a photo of the two together with the caption: "Me and my President, maybe, only in America".
The rap artist, real name Curtis James Jackson III, has had various reactions to his recent controversial post.
50 Cent also showed support for the president in 2016, posting this Instagram photo in the months leading up to the election
50 Cent and Donald Trump are pictured together at the Vanity Fair Oscar Party on February 27, 2011
One user wrote: & # 39; Pay your fair share. You're rich, stop being broke ”, while journalist David Leavitt called The Candy Shop rapper a“ selfish piece of shit ”for putting his finances above all other issues.
"Fifty cents can choose to choose their personal wealth over the health of the nation," wrote Leavitt.
The post was also supported by conservative commentators, including Candace Owens and Tomi Lahren, who wrote, "Welcome to the Trump Train!"
Reactions to the rapper's controversial release have been mixed, as some have said he was selfish on his reasoning
Mashup: A user photo shopped the rapper and president together to show his support
How Biden's tax plan could result in a 62% combined tax rate for those earning more than $ 400,000
The highest earners in New York, New Jersey, and California could pay 62% in states and states under Democratic presidential nominee Joe Biden's tax plan. This would be the highest tax rate in more than 30 years.
The high rate would affect those earning more than $ 400,000 while those earning below that level would likely receive tax cuts.
Nevertheless, the tax rate would still rise by double digits compared to the current tax rates.
Under Joe Biden's tax plan, California, New Jersey, and New York taxpayers earning more than $ 400,000 a year could expect combined state and local income tax rates in excess of 60%
In California, state and state tax rates could rise to 62.6%, according to calculations by the Tax Foundation, a Washington-based think tank that collects data and publishes research studies on tax policy in the United States.
On the east coast of New Jersey, the combined rates would also likely be over 60% and in New York City, where most of the state's highest earners live, over 58.2%.
The current top statutory tax rate in the US is 37%, with the average earner in the highest tax bracket paying 26.8% after the help of their accountants.
The Biden campaign then declared that the "effective rates" are more important than the legal rates.
Statutory tax rate is the statutory rate of tax on taxable income that falls within a particular tax bracket, while the effective tax rate is the percentage of income actually paid by an individual or business after taking into account any tax breaks, including gaps, deductions. Exceptions, credits and preferential rates.
Biden's plan is to increase the effective tax rate for the top 1% from 26.8% to 39.8%.
The highest earners in California and New York City would face effective state and federal tax rates of around 53%. They currently pay around 40% effective rates.
If the Democrats manage to win the Senate, they may also be able to pass laws that lift a $ 10,000 cap on state and local tax deductions, lowering the tax rate for the highest-income members of society.
Despite these commitments, the combined tax rates would still be at their highest level in more than 30 years, according to MSN.
Taxpayers are unlikely to pay the full tax rate after various deductions, credits, offsets and loopholes worked out by accountants
The highest marginal tax rate would rise from 37% to 39.6%, with an additional wage tax of 12.4%, according to Jared Walczak from the tax foundation.
In California, the highest income tax rate for those who earn the most would be 62.64%.
In New Jersey a combined rate would be 58.2%, while in New York it would be even higher at 62%.
Tax rates could rise even further if tax increases for employers are passed on to their employees.
Walczak believes the highest combined rates could rise to over 65% in California, 62.9% in New Jersey, and 64.7% in New York.
"These rates would be the highest in about three and a half decades," said Walzcak, "and would be imposed on a broader tax base than before."
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