Scranton Joe, Tax Evader
The Congressional Research Service finds that Biden likely owes $500,000 in back taxes.
Epitomizing the “rules for thee but not for me” mentality that has come to define the modern Democrat Party, it was recently revealed that Joe and Jill Biden likely owe $500,000 in back taxes from some $13 million in income earned in 2017-2018 on book deals and speaking engagements.
Of course, Scranton Joe has stumped for his massive spending agenda and wants to pay for it by raising $2.1 trillion in new taxes. He claims this will be accomplished by making sure the rich “pay their fair share.” That’s astounding hypocrisy for a man who has been exposed for doing exactly what he blasts the wealthy for doing — exploiting loopholes to avoid paying taxes.
The Bidens benefited from a common and often abused tax loophole by routing $13 million in book and speaking (pay-to-play) income through their two S corporations, CeltiCapri Corp. and Giacoppa Corp. By doing so, they then declared just $800,000 of the $13 million as salary. The maneuver allowed the Bidens to avoid paying $500,000 in ObamaCare’s additional Medicare tax.
In other words, Wall Street Joe was sheltering his money from the very IRS he’s now wanting to double in size and empower to supposedly go after tax cheats. That evidently includes granting the IRS authority to access and track every Americans’ bank account.
Making this even more hypocritical is the fact that Biden explicitly campaigned on ending this kind of tax dodging. “We don’t have to punish anybody, including the rich,” Biden stated back in 2019. “But everybody should start paying their fair share a little bit. When I’m president, we’re going to have a fairer tax code.”
Representative Jim Banks (R-IN) hammered Biden for the blatant hypocrisy. “Joe Biden wants to raise taxes by $2.1 trillion while claiming the rich need to pay their ‘fair share,’” he said. “But in 2017, multimillionaire Joe Biden skirted his payroll taxes — the very taxes that fund Medicare and ObamaCare. According to the criteria CRS (Congressional Research Service) provided to my office, he owes the IRS and the American people hundreds of thousands of dollars in back taxes. Every American should know about Joe Biden’s tax hypocrisy.”
Other Republicans joined in. “Joe Biden wants to expand the IRS’s funding and authority, so they can audit more Americans,” Congressman Chris Jacobs (R-NY) noted. “Given that the liberal Tax Policy Center and the nonpartisan Congressional Research Service both have raised questions about the way Biden handled his taxes, why doesn’t he ask for his own taxes to get audited first? Biden doesn’t really believe in expanding programs like Medicare and ObamaCare, because he thought buying a second multimillion-dollar mansion, and renting a third, was more important than helping to fund those laws.”
The reality is that Joe “Big Guy” Biden isn’t interested in looking out for the little guy. In fact, his $3.5 trillion monstrosity and accompanying tax hikes effectively stomp all over small businesses — the very kind of small corporation he created to avoid taxes but that gets hammered by tax hikes on “the rich.” Even his supposed concern over ensuring that the rich “pay their fair share” is not really about increasing tax revenue. What Washington Joe is really all about is working to secure ever more power for the federal government. It’s about robbing Americans of their freedoms all in the name of “fairness.”
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