Michelle Malkin has been reporting on this for some time. Now The Federalist has also come out with their story. Many Democrats behind closed doors are also not in support of raising taxes. These double standards have to stop. I say. “NO NEW TAXES ON WE THE PEOPLE.”
As per the Federalist, “
Biden’s personal conduct raises two obvious questions: How can someone who avoided more than $500,000 in taxes to fund his luxury lifestyle demand that others “pay their fair share”? And how can someone proposing the biggest expansion of government since Franklin Delano Roosevelt claim he supports more federal spending, when he wouldn’t pay for that spending himself?
‘Aggressive’ Tax Dodging
I previously reported on the details of the Bidens’ tax avoidance in the years following Joe Biden’s service as vice president. From 2017 through 2019, Joe and Jill Biden classified a total of $13.5 million in book and speech income as profits from their two corporations, rather than as cash wages.
While the couple paid full income taxes on all their revenue, classifying most of their earnings as corporate profits rather than wages allowed the Bidens to avoid paying $513,540 in payroll taxes on their $13.5 million in declared corporate profits. Tax experts interviewed by the Wall Street Journal in 2019 called the Bidens’ maneuvers “pretty aggressive,” and stated that they existed solely to circumvent paying payroll taxes.
Moreover, the $513,540 in payroll taxes the Bidens avoided were imposed by Medicare and Obamacare, and help fund both of those laws. During his campaign, Joe Biden ran ads claiming that “Obamacare is personal to me”—except, it appears, when it comes to paying the bill.
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