Guess Which Tax-Raising Lib Owes $500K in Back Taxes to the IRS?

It’s always projection with the Democrats. If the Democrats accuse their political enemies of engaging in some sort of wrongdoing, it’s always the exact sort of wrongdoing that they’re engaged in. Always. They endlessly accused Donald Trump Jr. of nefarious money-raising schemes with foreign governments; meanwhile, Hunter Biden was offering to have his vice president dad unfreeze Libyan government funds for a $2 million helper fee (plus 10% for the Big Guy). They’ve been demanding for years to see Donald Trump’s tax returns, but… according to a non-partisan governmental report, Donald Trump isn’t the one who cheated on his taxes and owes the IRS a half a million bucks in back taxes. That was Joe Biden.

Congressman Jim Banks (R-IN) requested a report from the Congressional Research Service (CRS) on IRS audits of S-Corporations and reasonable compensation to S-Corporation shareholder-employees. It turns out that this is how Joe Biden reduced the appearance of his net worth in time for the 2020 election. He dumped all the cash from his speaking fees and fake book advances into an S-Corporation and then paid small salaries to himself and Dr. Jill in order to avoid paying taxes on it.

That’s perfectly legal if you do it the correct way, by the way. Robert Kiyosaki, the author of the “Rich Dad, Poor Dad” series of books, can explain it much better than I can if you’re interested in the topic. But according to Rep. Banks and the Congressional Research Service, Joe Biden didn’t use his S-Corporation properly. They funneled their money through an S-Corporation and skipped out on paying $500,000 in Medicare taxes on his speaking fees and “book sales.” (And does anyone honestly believe that people bought $8 million worth of books written by Joe Biden?)

 

According to the CRS, Joe and Jill Biden funneled $13 million through a series of S-Corporations and paid themselves an $800,000 salary. And they counted the remaining $12.2 million in the S-Corporations as “distributions,” in order avoid paying Medicare taxes. The report does not place blame on the Bidens for doing this, but they basically cheated on their taxes. If the IRS were to audit them, they would lose that case.

Now that Joe Biden has availed himself of that scheme, he’s actually trying to close that loophole for other people! The $3.5 trillion “infrastructure” boondoggle includes a host of tax increases on the poor and working class to pay for it. But the bill would also – irony of ironies – prevent any other semi-wealthy people like Joe and Jill Biden from skipping out on Medicare taxes like they did.

“Working Class Joe” has set the hearts of liberals fluttering by claiming he’s going after those rich guys and he’s going to make them “pay their fair share.” But that’s not what Biden’s fake infrastructure bill does at all. As I’ve written previously, the bill raises taxes on anyone making $30,000 or more a year. It also raises cigarette taxes, which are basically a tax on the poor. On the flip side, families making $800,000 per year will be able to avail themselves of $118,000 in subsidies and tax write-offs.

He says he’s going to tax the rich, but the infrastructure bill gives the rich far bigger tax cuts and write-offs than Donald Trump’s tax cuts. And Biden is giving big tax increases to the poor and working class. Plus, the infrastructure bill would beef up the IRS by a staggering $80 billion in order to impose crippling audits on working-class Uber drivers, Walmart greeters and freelance court transcriptionists making $30,000 a year.

Meanwhile, Biden skipped out on paying the exact payroll taxes that fund things like Medicare and Obamacare. Joe and Dr. Jill also conveniently placed their S-corporations in “dormant” status for his time in the White House, so that his hidden wealth from Hunter Biden’s shady business dealings with China and Ukraine cannot be audited. (I’m assuming that’s where “The Big Guy” is dumping all of his shady income from his shady son’s crooked deals, to avoid public scrutiny and IRS attention.) This system works really well for the people in charge, doesn’t it?

Congress should move on from wanting to check Donald Trump’s tax returns. They really need to be looking at Joe Biden’s tax returns, now that it’s been proven that he and Dr. Jill skipped out on paying their fair share.


Most Popular

These content links are provided by Content.ad. Both Content.ad and the web site upon which the links are displayed may receive compensation when readers click on these links. Some of the content you are redirected to may be sponsored content. View our privacy policy here.

To learn how you can use Content.ad to drive visitors to your content or add this service to your site, please contact us at [email protected].

Family-Friendly Content

Website owners select the type of content that appears in our units. However, if you would like to ensure that Content.ad always displays family-friendly content on this device, regardless of what site you are on, check the option below. Learn More



Most Popular
Sponsored Content

These content links are provided by Content.ad. Both Content.ad and the web site upon which the links are displayed may receive compensation when readers click on these links. Some of the content you are redirected to may be sponsored content. View our privacy policy here.

To learn how you can use Content.ad to drive visitors to your content or add this service to your site, please contact us at [email protected].

Family-Friendly Content

Website owners select the type of content that appears in our units. However, if you would like to ensure that Content.ad always displays family-friendly content on this device, regardless of what site you are on, check the option below. Learn More

21 thoughts on “Guess Which Tax-Raising Lib Owes $500K in Back Taxes to the IRS?”

  1. Time to arrest comrade dipshit and his cronies for treason drag him by the ear stick on a c-130 haul his sorry ass to guatanimo Bay prison

      1. I agree, but the correct term is D-E-M-O-N-R-A-T-S.
        I find it difficult to believe that noone has called out Congress for their %57,000 Covid stipend coupled with the pay raise they gave themselves last year while giving each of us $1,400 for Covid.
        And about those representatives such as Illinois Senator Tammy Duckworth who left the country for the year as the lockdown began.

    1. Again that sorry ass S O B is trying to make President Trump look like the bad guy to cover up for him self ,That is a typical Socialist Democrat they are the corrupt ones always trying to make others look like the bad person.Why doesent the A. G. are Congress have enough Guts to have Bidens tax records looked at we all know that he is a corrupt lier.

      1. Puppet Joe, Crooked Hillary and dickhead Hunter Biden should be dealt with and not be let go of their debit and sent to prison for their cheating the government!

    2. How Corrupt can one party get, before it’s too much.
      It seems the Democratic Socialist party has no Limits, to how corrupt they are, unless it’s someone else.

    3. Save money, traitors should be exterminated. Why give the tax payer more burden. A bullet is cheap, but a public hanging far more satisfying.

  2. This is supposed to be a surprise??? A majority of the Demonrat party are nothing but thieves. Another off the top of my head is Al Sharpton.

  3. Everyone knows that Biden is corrupt. He used his own son, Hunter to be his influence peddler and bagman. The FBI has the proof on the three Hunter Biden laptops in their possession; they also have the evidence and testimony of Tony Bobulinski, a businessman who met with Joe and Hunter Biden personally to discuss Bobulinski heading up one of the Biden’s shell companies through which money could be laundered. Neither the Attorney General Merrick Garland, nor FBI Director Christopher Wray chose to do anything with this evidence.

    Neither of these two individuals in our “Justice” Department have seen fit to charge Joe Biden with treason, after having gifted the terrorist Taliban enemy of the U.S. with $85 billion worth of modern sophisticated military weaponry and the U.S. owned air base in Bagram. THAT was “giving Aid and Comfort to an enemy of the U.S.” and is defined as treason, in Article III, Section 3. of the Constitution. There is no getting around it, Joe Biden committed treason against the USA. In addition Chairman of the Joint Chiefs of Staff, General Milley also committed treason against the U.S., when he contacted his military counter-part in China, advising that he, Milley, would provide China with advance notice of any planned attack ordered by president Trump, the Commander-In-Chief. THAT was also “giving Aid and Comfort to an enemy of the U.S. Yet neither the Department of “Justice” nor the FBI have chosen to investigate, let alone prosecute, Biden and Milley for these treasonous acts. WHY?

  4. He’s the most corrupt President this Country has ever had, but real what did anyone expect?? Hes5 been in politics longer then so.e peoe work. Look who taught him the ways to lie, cheat and steal from the government…..Barrack HESSIAN Obama!! But Joe ….we can’t blame it all on Obama! You were already a pro. And to involve your only son in your dirty scandals is just so wrong, but Hell he probably welcomed it, you were his teacher, but judging from his drug and sex additions , GOD probably took your other wife and kids so your corrupt mind could not ruin them too! You are a true scumbag!!!

    1. You call him a President? Not in my book he will NEVER be my President–He is full of hate and spite and a habitual liar from day one, a pervert of women and children and belongs behind bars for the remainder of his life.

  5. SHOW YOUR DISDAIN AT THE POLES AND GET THE SCUMBAGS OUT OF CONGRESS
    Any who voted themselves a pay raise (FOR A PART TIME JOB) and a $57,000 (while each of us received $1,400) Covid stipend last year are all guilty and complicit in this widespread TREASON.
    Our forefathers warned us of this potential for corruption.
    Our government has become the tyrannical government mentioned in the second amendment.

  6. Biden thinks he is ABOVE THE LAW! He does not pay his BACK TAXES But he wants to kill America with his drive to inflation. What about Hunter, he probably owes taxes out the butt too. PRAY that God will turn things around before the end of time. If this does not happen, there will be a lot of people IN HELL! GOD BLESS THE USA!

  7. I agree with all the people remarks posted above. We have a very evil group of men and women in Congress. I fell sick as the USA has turn there backs on GOD we will all feel the wrath of GOD. All around the world people have turn there back on GOD. GOD is in control of all things on earth. We will never be able to stop Global warming,hurricanes,fires,tornado,flood we are looking at the end of day we will never know when the end will come but it will come sooner than later,be sure.

  8. He needs to pay his own taxes, he and his administration needs to be arrested for fraud and lying and treason charges. Our government doesn’t need to be handling any kind of money or anything.
    We need to investigate the federal reserve and IRS fully. I hope this bill doesn’t pass because it so wrong that they have give themselves raises this way. Besides they are making triple pay in which our fathers(Washington, Adams, Jefferson, Hamilton) they new that congress and every one would be greedy. But I think everyone needs to be paid by Per diem like they used to be paid.

Leave a Reply

Your email address will not be published.