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.”
“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.”
“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.”
‘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.
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