THREE KINDS OF LIES: There are lies, damned lies and Biden’s statistics. Exhibit A from his recent State of the Onion, according to Issues & Insights (I&I), is his claim that the richest Americans pay on average a net tax of 8.2 percent. What??? Biden should have asked his IRS:

“It calculates the actual tax rate that various income groups pay, including the ultra-rich. Its data show that the 400 people with the biggest incomes in America were paying an average tax rate of more than 23 percent. Congress’ Joint Committee on Taxation figures that the tax rate on the top 0.4 percent of families is 26 percent,” I&I explains.

“So where does Biden come up with an 8.2 percent tax rate? He changes the definition of taxable income to include all unrealized gains from investments. If you have money in the stock market, any gains in the value of those stocks would count as income to Biden, even if you don’t sell the stock. Presumably so would any gains in the value of your home. Or the value of any other assets you possess.”