Joe Biden has hammered rich Americans. He wants to raise their taxes so they pay their “fair share.”
(Funny how it’s always the people taking the money who decide what’s “fair” or not.)
But all too often, Democrats who demand other people pay their fair share, rarely do it themselves.
In the past, Democrats in D.C. were outed for not paying their taxes. Some of them were the very lawmakers who wrote the tax code.
In fact, records are showing Joe Biden has tried to avoid paying taxes himself. And not just any taxes—Obamacare taxes.
The man who wants the IRS to “hunt down” the rich was apparently using loopholes to protect himself.
From The Federalist:
Yet with his own taxes, Joe Biden didn’t pay his “fair share.” 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…
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.
After leaving the Obama administration, Joe Biden has been accused of using loopholes to avoid paying hundreds of thousands in taxes.
Apparently, while he and his wife earned $13.5 million from book sales and speeches, they classified the money as profits of their “corporations,” instead of cash wages.
That meant they could avoid paying over half a million of their “fair share” to the government.
Even tax experts called the move “pretty aggressive.” They even said they did it solely to avoid paying payroll taxes.
But wait, Biden keeps saying the rich need to pay into the government. Joe and his wife earned a cool $13.5 million in just three years. And isn’t $500,000 just a small bite out of that windfall?
Why didn’t Biden want to give up that cash? Maybe because he felt he was entitled to it, because he worked for it himself? And he didn’t want it taken by a greedy, wasteful government?
Hey, I wouldn’t fault him for doing that. But today, he wants other Americans, who might earn much less than $13.5 million, to pay what he refused to pay.
Isn’t that called something? Oh yes, being a hypocrite.
Why should Americans be forced to pay Biden’s over-bloated taxes, when he used loopholes?
- Joe Biden used corporate loopholes to avoid paying his “fair share” from 2017 to 2019.
- He avoided over $500,000 in taxes, by exploiting certain tax rules.
- Today, he demands wealthy Americans to pay for his bloated spending plans.
Source: The Federalist