Friday, November 27, 2020

How 50 Cent Becomes 20 Cent

How 50 Cent Becomes 20 Cent

Sometimes you have to wonder if there’s anything rappers could utter that would offend modern progressive sensibilities. Apparently, there is. Rapper Curtis James Jackson III, who goes by the stage name 50 Cent, last week outraged the left by endorsing President Trump in opposition to Joe Biden’s confiscatory tax plan.

The rapper last week posted an Instagram snapshot of a news broadcast that showed taxes on high earners would rise to 62% in New York City with the caption: “WHAT THE [expletive]! (VOTE ForTRUMP) IM OUT, . . . [expletive] NEW YORK The KNICKS never win anyway . . . I don’t care Trump doesn’t like black people 62% are you out of ya [expletive] mind.”

He later tweeted: “Yeah, i don’t want to be 20cent. 62% is a very, very bad idea. i don’t like it!” As we recently pointed out, Mr. Biden wants to raise the top rate on individuals making more than $400,000 to 39.6% from 37% plus impose the 12.4% Social Security payroll tax on earnings above that amount (counting employer and employee combined shares).

The federal top marginal rate, including 3.8% in Medicare taxes and the Pease limitation on deductions, would rise to 57%. Tack on New York City’s 12.7% top rate, and Mr. Jackson would be forking over nearly 70% of his income to the government. But well-to-do Americans, especially if they are black, aren’t supposed to resist this tax raid.

“He doesn’t want to pay 62% taxes because he doesn’t want to go from 50 Cent to 20 Cent,” his ex-girlfriend Chelsea Handler said on Friday’s Tonight Show. “I had to remind him that he was a black person, so he can’t vote for Donald Trump, and that he shouldn’t be influencing an entire swath of people who may listen to him because he’s worried about his own personal pocketbook.”

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