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President Biden was scolded this week in a commentary at the Federalist for not paying his “fair share” of taxes, a phrase that he has used over and over in recent weeks as he promotes his plans to raise taxes across the United States by massive amounts.
Article by Bob Unruh from WND.
“With his own taxes, Joe Biden didn’t pay his ‘fair share,'” explains columnist Christopher Jacobs. “Upon leaving the vice presidency in early 2017, he and his wife Jill exploited a tax loophole of questionable legality to dodge hundreds of thousands of dollars in taxes – and used the savings to fund lavish real estate holdings.”
The column cited how Biden, in a recent speech to Congress as well as in his “multi-trillion-dollar plan for ‘human infrastructure,'” proposed yet another tax increase.
“In his address … Biden used the words ‘fair share’ on no fewer than five separate occasions to justify these proposed revenue hikes,” the column noted.
But it pointed out Biden, personally, “avoided more than $500,000 in taxes to fund his luxury lifestyle” while demanding that others “pay their fair share.”
The column reported from 2017 through 2019 the Bidens “classified a total of $13.5 million in book and speech income as profits from their two corporations, rather than as cash wages.”
That means they avoided “paying $513,540 in payroll taxes on their $13.5 million in declared corporate profits.”
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“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,” Jacobs wrote.
He noted at the same time that the Bidens were “dodging” taxes, they spent more than $2.7 million for a beach house.
“At the time, Biden told a local paper the move fulfilled a lifelong dream to own a beach house.”
And, too, Biden then was renting a separate residence that was estimated to cost about $20,000 per month. That “house” got Biden nearly 12,000 square of space, a grand piano in the living room, a sauna and home gym, and parking for 20-plus cars.
“Given his behavior, President Biden’s speech last week sounded a bit rich – not in terms of wealth, but his own hypocrisy,” the column scolded.
It isn’t the first time Biden’s tax avoidance has been an issue.
Just weeks ago, WND reported on a letter from Rep. Jim Banks, R-Ind., the chairman of the Republican Study Committee, to Biden asking him if he would make good on the taxes owed.
The letter cited the Bidens’ decision to route $13 million in income through two S-corporations “to avoid paying some $500,000 in taxes that help fund Medicare and Obamacare.”
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“Do you intend to undo your hypocrisy and pay these taxes back to the American people?” Banks asked.
“We write to highlight for the American people the hypocrisy you have exhibited in using a tax shelter strategy derided by the Left to avoid paying Obamacare taxes,” Banks said. “Over the past several years, you and the First Lady, through a legally dubious tax strategy, appear to have avoided payment of over $500,000 in payroll taxes. As you may know, these payroll taxes fund Medicare for our nation’s seniors, and were increased by President Obama’s Affordable Care Act.”
Banks said media reports “indicate that you both directed revenue from book royalties and speaking appearance fees into these two corporations, avoiding self-employment payroll tax liabilities that would have flowed to America’s Medicare program that provides care to over 60 million seniors.”
The letter cited a tax expert saying there’s “no reason for these [earnings] to be in an S-corp – none, other than to save on self-employment tax.”
“Accordingly, we ask one simple question: Do you intend to undo your hypocrisy and pay these funds back to the American people?”
Biden’s two S-corporations, CelticCapri Corp. and Giacoppa Corp., reported profits of more than $13 million for 2017 and 2018, according to reports.
But during his Democratic National Convention acceptance speech last August, Biden called for “ending loopholes” for the wealthy.
“Because we don’t need a tax code that rewards wealth more than it rewards work. I’m not looking to punish anyone,” he said at the time. “Far from it. But it’s long past time the wealthiest people and the biggest corporations in this country paid their fair share.”
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‘The Purge’ by Big Tech targets conservatives, including us
Just when we thought the Covid-19 lockdowns were ending and our ability to stay afloat was improving, censorship reared its ugly head.
For the last few months, NOQ Report, Conservative Playbook, and the American Conservative Movement have appealed to our readers for assistance in staying afloat through Covid-19 lockdowns. The downturn in the economy has limited our ability to generate proper ad revenue just as our traffic was skyrocketing. We had our first sustained stretch of three months with over a million visitors in November, December, and January, but February saw a dip.
It wasn’t just the shortened month. We expected that. We also expected the continuation of dropping traffic from “woke” Big Tech companies like Google, Facebook, and Twitter, but it has actually been much worse than anticipated. Our Twitter account was banned. Both of our YouTube accounts were banned. Facebook “fact-checks” everything we post. Spotify canceled us. Medium canceled us. Apple canceled us. Why? Because we believe in the truth prevailing, and that means we will continue to discuss “taboo” topics.
The 2020 presidential election was stolen. You can’t say that on Big Tech platforms without risking cancellation, but we’d rather get cancelled for telling the truth rather than staying around to repeat mainstream media’s lies. They have been covering it up since before the election and they’ve convinced the vast majority of conservative news outlets that they will be harmed if they continue to discuss voter fraud. We refuse to back down. The truth is the truth.
The lies associated with Covid-19 are only slightly more prevalent than the suppression of valid scientific information that runs counter to the prescribed narrative. We should be allowed to ask questions about the vaccines, for example, as there is ample evidence for concern. One does not have to be an “anti-vaxxer” in order to want answers about vaccines that are still considered experimental and that have a track record in a short period of time of having side-effects, including death. One of our stories about the Johnson & Johnson “vaccine” causing blood clots was “fact-checked” and removed one day before the government hit the brakes on it. These questions and news items are not allowed on Big Tech which is just another reason we are getting canceled.
There are more topics that they refuse to allow. In turn, we refuse to stop discussing them. This is why we desperately need your help. The best way NOQ, CP, and ACM readers can help is to donate. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal as well. We are on track to be short by about $4100 per month in order to maintain operations.
The second way to help is to become a partner. We’ve strongly considered seeking angel investors in the past but because we were paying the bills, it didn’t seem necessary. Now, we’re struggling to pay the bills. We had 5,657,724 sessions on our website from November, 2020, through February, 2021. Our intention is to elevate that to higher levels this year by focusing on a strategy that relies on free speech rather than being beholden to progressive Big Tech companies.
During that four-month stretch, Twitter and Facebook accounted for about 20% of our traffic. We are actively working on operating as if that traffic is zero, replacing it with platforms that operate more freely such as Gab, Parler, and others. While we were never as dependent on Big Tech as most conservative sites, we’d like to be completely free from them. That doesn’t mean we will block them, but we refuse to be beholden to companies that absolutely despise us simply because of our political ideology.
We’re heading in the right direction and we believe we’re ready talk to patriotic investors who want to not only “get in on the action” but more importantly who want to help America hear the truth. Interested investors should contact me directly with the contact button above.
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Yes, We Need Your Help
I hate being “that guy” who asks people to donate because I think our conservative news network is so crucial, but here I am…
When I left my cushy corporate job in 2017, I did so knowing that my family would have to make sacrifices. But I couldn’t continue to watch the nation slip into oblivion and was inspired by President Trump’s willingness to fight the good fight even at his own personal expense. What I didn’t realize then is that conservative media would be so heavily attacked, canceled, and defunded that the sacrifices would be extreme.
Many in this nation are struggling right now even though we weren’t struggling just a few years ago. I’m not alone. But I wake up every morning and operate the sites we’ve been able to build because there’s really no other choice. I refuse to be beholden to Big Tech like so many other conservative news outlets, which is why you won’t see Google ads here. With that said, it’s often challenging to pay the bills and it’s even harder to expand so we can get the America First message out to a wider audience.
The economic downturn has forced me to make a plea for help. Between cancel culture, lockdowns, and diminishing ad revenue, we need financial assistance in order to continue to spread the truth. We ask all who have the means, please donate through our new GiveSendGo. Your generosity is what keeps these sites running and allows us to expand our reach so the truth can get to the masses. We’ve had great success in growing but we know we can do more with your assistance.
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I would even be willing to entertain investments and partnerships at this stage. I’ve turned them down in the past because editorial purity is extremely important. I’ll turn them down again if anyone wants us to start supporting RINOs or avoid “taboo” topics like voter fraud, vaccines, or transgender supremacy. But I’d talk to fellow America First patriots who want to help any (or all) of our 10 news sites. Hit me up at jdrucker (at) substack (dot) com if you’re interested.
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