Joe Biden’s taxes are an embarrassment and have been for years. The man’s charitable giving would make Scrooge look like a philanthropist.
But in this recent political theater where Biden released his taxes, we get glaring inconsistencies.
Of course the media attempted smoke and mirrors, with one outlet calling the release, “restoration of presidential tradition”.
To quote Larry the Cable Guy, “Now dats funny right dere!”
And it’s particularly funny when you evaluate how these tax cheats worked the system.
Did SCOTUS make the right decision on medical mandates for large businesses?
As The Federalist reported:
The loophole comes because Joe Biden and his wife Jill categorized much of their book and speech revenue as profits from two corporations they created, rather than as taxable wages. Under current law, corporate profits are not subject to payroll taxes, meaning the Bidens avoided paying 3.8 percent in taxes — a 2.9 percent levy that funds Medicare, and a 0.9 percent tax created by Section 9015 of Obamacare that funds that law — on every dollar they categorized as corporate profits rather than wages.
The Bidens exploited this loophole most aggressively in 2017 and 2018 when Joe Biden earned millions through a reported $8 million book advance and various speaking engagements. Because Biden spent 2019 and 2020 running for president, the couple’s income — and therefore their ability to use this loophole — dropped. In 2020, Joe Biden reported no income at all from his corporation, and therefore could not utilize this loophole to reduce his tax bill.
But Jill Biden continued to use this loophole in 2020 on earnings from her corporation. In all, Bidens avoided a total of $516,992 in taxes over the past four years.
Just note how the media handles Biden’s taxes being released, versus anything involving Trump’s taxes. In fact, the New York Attorney General is trying to CREATE a tax issue for Trump; retaliation for Trump winning in 2016.
And what about the huge jump in income?
How did Biden get such an enormous book advance? Likely, the same way Hunter Biden got his enormous book deal? Let’s just say the first language these books will be translated into will be Mandarin.
Further, how much would you pay Biden to speak?
I DARE the media to examine the massive jump in Biden’s income when he became Vice President. The wheeling and dealing is scandalous. Yet, today they present Biden as the Socrates, the father of ethics.
He is far from it, and that is as plain as the dementia inside his skull.