Good day all. An interesting story has come out regarding the Meat Puppet currently acting as the Front man for the cabal pulling his strings in the Oval Office. Reports are saying that Dementia Joe, prior to being installed as President, was cheating on his taxes.
Recently, the maladministration of President Bumbles “Meat Puppet” Dementia proposed both a massive tax increase certain to crush the economy, and also a proposal to force banks to report any transaction of $600 dollars moving in or out of a person’s bank account. The goal being to pay for the $4 trillion dollars in payoffs to the Progressive groups at the expense of regular people. Now it seems that President Oatmeal for Brains was cheating on his taxes. Here are the details from the New York Post:
Republicans say a new nonpartisan report indicates President Biden improperly avoided paying Medicare taxes before he took office — raising eyebrows and the possibility that he owes the IRS as much as $500,000 in back taxes.
Biden is leading a Democratic push for a $3.5 trillion bill to subsidize child care, education and health care by targeting tax avoidance and raising tax rates on higher incomes so the rich “pay their fair share.”
The “Rich” already pay the lions share of taxes in this country. Of course the Communazis never ever consider that little fact, or that a fair percentage of the people in this country don’t pay any taxes at all. They also haven’t been paying attention to all the Blue States that have seen all their better off taxpayers bolt to states that don’t consider them a bank vault they can loot.
A House Ways and Means Committee draft of the bill would end the accounting trick apparently exploited by Biden and boost IRS funding for audits — but the new report, drafted by the Congressional Research Service and provided to The Post, suggests Biden owes taxes under current rules, according to the congressman who requested it.
“Joe Biden wants to raise taxes by $2.1 trillion while claiming the rich need to pay their ‘fair share.’ But in 2017, multimillionaire Joe Biden skirted his payroll taxes — the very taxes that fund Medicare and ObamaCare,” said Rep. Jim Banks (R-Ind.), chairman of the conservative Republican Study Committee.
“According to the criteria CRS provided to my office, he owes the IRS and the American people hundreds of thousands of dollars in back taxes,” Banks said. “Every American should know about Joe Biden’s tax hypocrisy.”
Oops! Actually, he owes America far more than a few hundred thousand dollars in back taxes. That incompetent fool owes America hundreds of billions for all the damage he’s done over the last few months. Trillions of you want to go back decades.
Banks said the report shows Biden improperly used “S corporations” to avoid paying Medicare tax on speaking fees and book sales in 2017 and 2018. Biden and first lady Jill Biden routed more than $13 million through S corporations and counted less than $800,000 of it as salary eligible for the Medicare tax — exempting the rest from what would have been a 3.8 percent rate, the Wall Street Journal reported.
Ahh yes, the old “Speaking fees” routine. The Clinton Crime Family mad millions using this scheme, but they were also smart enough to hide the money better. Biden is stupid, so he did his usual half assed job at hiding his bribes.
The CRS report doesn’t name Biden but analyzes cases in which the IRS won a judgment against taxpayers who paid themselves suspiciously low salaries from S corporations and counted most of the revenue as “distributions” exempt from the Medicare tax.
“Courts have agreed with the IRS that shareholder-employees are subject to employment taxes when shareholders take distributions, dividends, or other forms of compensation in lieu of reasonable compensation,” the report says.
I have no doubt that before his brain turned into Tapioca pudding, Biden’s response would have been “We don’t pay taxes. The little people pay taxes.”
Chris Jacobs, a veteran of GOP offices on Capitol Hill who closely tracks the issue, said, “Joe Biden wants to expand the IRS’s funding and authority, so they can audit more Americans. 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?”
You are joking, right? The only one who is going to be audited is you, now that you have asked that question.
Jacobs added, “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.”
“There are millions — literally millions — of S corporations. So there might be a half a million S corporations that are playing this game. And the IRS doesn’t have anywhere near enough of a budget to bring a half a million cases every year,” said John Bogdanski, a former member of the IRS Commissioner’s Advisory Group and a professor at Lewis & Clark law school.
Well, half a million and one it seems, and that one won’t be touched by the Infernal Revenue Service.
The White House did not immediately respond to a request for comment.
Nor will they ever respond.
The Biden campaign previously said that “the salaries earned by the Bidens are reasonable and were determined in good faith.”
The Biden Crime Family is every bit as corrupt and dirty as the Clinton Crime Family. The Clintons just happen to be more vicious and better at hiding their ill gotten gains. This is just another example of the Ruling Elite ignoring the laws they shove down the throats of the Average Person. The maladministration is planning to go after the millions of “Deplorables” who support President Trump. Of course, they have, as usual, forgotten their history. This country was founded due to a tax revolt that became a bit…boisterous back in 1776.
Thatisall
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