Rapper 50 Cent Gets Vocal About Biden’s Tax Hike, Says He’s Moving to Texas

Oct 13, 2021 | Blog

Celebrity rapper “50 Cent” has mentioned more than once that he would be moving to Texas if President Joe Biden’s tax plan successfully makes it through Congress and becomes law. Some celebrities may consult a tax attorney about such changes, but 50 Cent stated in no uncertain terms that he would simply relocate. He made his concerns public for a second time during an interview on MSNBC last week. He appeared on the show “The Beat with Ari Melber” where he clearly voiced his opinion to Melber about President Biden’s repeated pledge to increase the tax rate for any American who earns over $400,000 annually. Last week, the president expressed confidence in his plan and stated that he thinks enough Democrat senators will vote yes on the proposal and the tax hike would eventually take effect.

50 Cent Points to Others Who Have Moved to Avoid Extremely High Taxes

When 50 Cent, born Curtis James Jackson III, spoke to Melber, he was very straightforward about his concerns, and the two discussed Biden’s tax plan. The rapper stated that he did not realize at first that he would be giving the Internal Revenue Service approximately 62 percent of his income under the plan, but last fall discovered that would be the case. He told Melber that it would change quite a bit for him, and went on to predict that it would dramatically change New York City.

The popular rapper did not reference his individual tax planning strategies, but said that he believes many people will end up moving to different regions of the country; he also referenced the exodus from Silicon Valley. He said, “You look at Silicon Valley; it is now in Austin, Texas.” He reiterated the fact that he believed people were moving for the purpose of holding on to the money they earn through their professions or who work in the entertainment industry. 50 Cent added that “It makes sense” for individuals such as himself to try to hold on to the money they have earned by relocating to different states or territories.

Opposition to Biden’s Tax Plan Nothing New for 50 Cent

The negative feelings 50 Cent has toward Biden’s tax proposal are not new. In fact, the rap celebrity expressed his opposition to the tax hike during last year’s presidential race, long before Biden won the Oval Office. He was even quoted by many news outlets last fall as saying, “I don’t care if Trump doesn’t like black people. I don’t want to be 20 Cent,” and he encouraged voters to cast their ballot for Trump.

Bigger and Better in Texas

The rap star told Melber in no uncertain terms that he was going to Texas: “I’m going to Texas. I’ll move, Ari. I’ve got my cowboy hat and everything.” He went on to say that everything is bigger and better in Texas and that there are very beautiful, nice people living in that state.

It remains to be seen if 50 Cent will relocate to the longhorn state should Biden’s tax plan be successful. Regardless of a person’s individual income, however, tax planning is important, and those who owe back taxes or have concerns about their return should contact a tax attorney as soon as possible.