"Biden's Presidency: Navigating Flaws, Expectations, and Unpopularity"

IBM vice chair Gary Cohn criticized President Biden's claim that billionaires pay lower taxes, stating that billionaires with income in the U.S. pay at least 20% in taxes and that a billionaire's net worth doesn't necessarily reflect their taxable income. Cohn highlighted that the top 10% of earners pay over 70% of taxes collected in the U.S., and emphasized that the country effectively taxes income. Biden has proposed a 25% tax on the wealthiest Americans and an increase in the corporate tax rate from 21% to 28%.