Biden... May Owe Up To $500,000 In Back Taxes: Rep

Democrat President Joe Biden, who has repeatedly demanded that the wealthy “pay their fair share” in taxes, may owe up to $500,000 in back taxes, according a lawmaker’s analysis of a new non-partisan congressional report.

The report comes as Biden is pushing his party to pass a massive $3.5 trillion bill that has been widely criticized as a leftist wish list, which comes as inflation rates have skyrocketed under Biden’s presidency. The report also comes as Biden is trying to beef up the IRS by $80 billion to crack down on what he claims are people not paying their taxes.

Banks alleged that the report shows that Biden, who is not actually named in the report, misused “S corporations” to avoid paying Medicare tax on speaking fees and book sales while he was out of office during the Trump administration.

https://www.dailywire.com/news/bide...xes-may-owe-up-to-500000-in-back-taxes-report

 

May owe ?

 

Biden the tax cheat. Difference between him and Trump is that Biden set up an S corporation instead of a C, and Biden was an employee-shareholder. He distributed an unlawful amount to himself as distribution (capital gains) instead of employee salary subject to medicare tax (personal Income).

It's time for an investigation. We can't have a President that violates tax law, right? This news cycle has been gold.

 

It's a Ways and Means reports. Are you accusing the committee of distributing false information? No way.
https://nypost.com/2021/09/23/biden-could-owe-as-much-as-500k-in-irs-taxes-report/

Wall Street Journal?
https://www.wsj.com/articles/joe-biden-used-tax-code-loophole-obama-tried-to-plug-11562779300

 

*L*

You post one fake news "article" and tada! You're declaring Joe Biden a tax cheat

But speaking of distributing unlawful amounts, Trump and friends seem to have done a whole lot of that, and Trump's idiot son has openly admitted it on television. It's going to be quite entertaining to watch as Trump's crime operation is dissected by the legal system:

Trump's Business May Go On Trial On Tax Charges Just Before The 2022 Elections
Updated September 20, 20211:38 PM ET

The judge hearing the tax fraud case against former President Donald Trump's family business and its longtime chief financial officer, Allen Weisselberg, in New York City has set a schedule with a potential court trial starting in late August or early September 2022, just months before the midterm elections.

That timing, as well as a potential conviction against his family business, could cast a pall over any efforts by Trump to drum up support for Republican candidates. And with multiple investigations still underway, the legal cloud hanging over Trump's world may be getting larger, lawyers on Weisselberg's defense team suggested during a court hearing on Monday.

"We have strong reason to believe there could be other indictments coming," said Bryan Skarlatos, one of Weisselberg's attorneys.

... https://www.npr.org/2021/09/20/1037...n-investigation-charges-cfo-allen-weisselberg​

 

The New York Post often is, but the Journal not so much. It is OLD news, though. From your link:

Joe Biden Used Tax-Code Loophole Obama Tried to Plug
Former vice president structured his speaking, writing business in a way that cut his tax bill

July 10, 2019 1:21 pm ET

Democratic presidential candidate Joe Biden used a tax loophole that the Obama administration tried and failed to close, substantially lowering his tax bill.

Mr. Biden and his wife, Dr. Jill Biden, routed their book and speech income through S corporations, according to tax returns the couple released this week. They paid income taxes on those profits, but the strategy let the couple avoid the 3.8% self-employment tax they would have paid had they been compensated directly instead of through the S corporations.

The tax savings were as much as $500,000, compared to what the Bidens would have owed if paid directly or if the Obama proposal had become law.

... https://www.wsj.com/articles/joe-biden-used-tax-code-loophole-obama-tried-to-plug-11562779300​

As you can see, it is a known legal tax avoidance strategy.

 

Wait, so you're making a claim that he cheated on his taxes, so you should be able to see his taxes ?

 

MAY Owe?

"MAY" being the Operative Word...

Let me know when it is (actually) PROVEN...

 

No. The House Committee members have seen his taxes, and determined he violated the law. I don't care about Biden showing me his taxes. I'm not fishing for anything. They've got the tax records and they've determined that the S corporation caused Biden to pay the incorrect amount of taxes. That's the difference. The NYTimes allegations makes a couple of contrary allegations about the tax years where Trump is making money (successful tax cheat) and the years he saw losses and paid little taxes (Unsuccessful loser). The NYTimes is too stupid to realize that Trump's C Corporation conglomerate distributes investment income to Trump during different years when either the a particular venture (LLC) fails (losses) or succeeds (Capital gains). All other taxes from profits that aren't distributed (realized) is paid by corporation, and held as company revenue.

BTW... I saw the trap you were trying to set.

 

You should read their articles. Sure do a bang up job slamming Biden.

 

The Wall Street article confirmed the sums owed. He owes the taxes. He tried to use a loophole to get away with paying himself less in salary and more in capital distribution, but he set his corp. up as an S instead of C. He's not as smart as Trump. That's why Democrats still have BS to show for their fishing expedition of Trump's taxes, and Republicans have a clear-cut case of Biden's unlawful tax scheme. They even have a copy of the IRS code. That's a credible argument. It has all the elements of a third-year law school paper (Facts, Legal Issue, Law, Rationale, Conclusion) while the NYTimes article is an example of a first day 1L law student's pitfalls (Facts, Invented Facts, poor recitation of rule, conclusion).

Given that Joe's son solicits bribes in exchange for political favors with Joe's knowledge and aid, I'd imagine Joe Biden cheats on his taxes. The whole family is corrupt. The son is photographed naked with toddler in sexy clothes and Joe Biden is photographed sniffing and touching little girls in an inappropriate manner. Given that Democrats denied credible primary source evidence in that situation, I'm really not concerned with the standard of proof Democrats utilize. It changes every single day.

 

So?

Given all of that "Incontravertible Proof", how soon should we expect Madame Harris to assume the Presidency?

 

They are using the cautious headline to discredit the facts alleged in the article. That's how a headline is supposed to be written for a criminal essay or IRS. At the end of the day, guilt is determined by a jury. They teach this in law school so you students don't immediately make conclusions. Ben Shapiro is an Attorney so he wrote it appropriately.

The left is so used to sources like CNN and Nancy Grace just confirming illegalities. This is the wrong way to write or discuss legal cases. It's immature and negligent. They are just getting a rise out of their audience, and it's borderline encouragement of violence.

I'll mention that Fox News coverage on missing white girl is also F-ing negligent. Why are you showing were the defendant's home? The neighbors? Who cares about one missing girl in America? There's black men killing black girls every day. You don't see CNN too concerned about black lives when that happens. Black Lives don't Matter on less the gunman is white. CNN is racist. Another thing they do wrong.

 

I hope immediately. Her poll numbers against Trump are so bad even when I adjust for right-wing bias in the Rasmussen Poll.

Real Talk Andrew... Her character and body language is amazing disastrous. You know when you're lying to someone and you know that other people can tell that you're lying? You're fronting a bit, but it's unconvincing. I feel like that goes on every second of Kamala Harris' life. She always feels uncomfortable and judged like a child trying to prove something. And then when everyone criticizes her, she completely falls apart. She wants black people like her cause she doesn't feel like she is authentically black, an argument she's been hearing her entire political career. She fears criticism so much that she makes poor decisions. Like shirking immigration. Yeah... It's not a politically advantagous job, but you can't just quit on the first day. Go to the border. Al Sharpton went to the border.

 

A 2 million dollar deal his boy done in Libya that came out today also proves that Biden and his son make money on our backs as tax payers. pay to play seems to run rampant in the democrat glass house

https://www.foxnews.com/media/hunter-biden-libya-bombshell-proof-media-lied-glenn-greenwald

 

Yeah... There was an active thread near the top not too long ago, but the Democrats completely buckled under the weight of evidence. Hunter is literally jacking it in front of the laptop that produced the e-mails in one photo that is taken by another camera. Now more of the mainstream is picking it up.

The tax thing is just gravy today cause it only took 8 months to find discrepencies between Biden's tax records and the law on S Corporation treatment of Employment-owner income. It took over two years for the NYTimes to write a story, and they came short fishing for anything. The irony is that Biden would have been okay if he had just structured his corporation like Trump.

Biden should just ask Trump to be his role model. Trump has actually produced something with his work, structured his corporate entities better than Biden, organizes his taxes better than Biden, and raised his children so much better than Biden's F-up of criminal co-conspiring son.

 

China Joe is a tax cheat.

 

. This is absolutely hilarious suddenly just like that the left is okay with tax cheating presidents...

 

I patiently await Rachel Madcow to expose Biden tax returns.

All these lefties wanted someone 'presidential' in the white house yet they installed someone that acts like he's manager of a shitty trailer park and his offspring are a few spaces down in a single wide doing drugs, kiddie pron, and hookers.

 

Whats bidens net worth?

Whats Hunters?

 

For three years, the morons on the left have been posting the same NYTimes story about Trump avoiding taxes with the use of C Corporations. Half the argument made by the NYTimes was premised on moral repugnant practice of tax avoidance. The reason Trump was never found to violate IRS tax code is due to the fact that he organized his corporations better than Biden, a politician that has been thoroughly entrenched in government for his entire life. It just goes to show you that the Democrats stopped at nothing to imprison their political opponent, even though they engaged in all the same behaviors they accused of Republicans.

Democrats don't even understand the arguments they're making half the time. It's just a CNN headline and "You watch Fox". No. I have a decent understanding of every tax code, and I have a tabbed book on my shelf that reminds me where to look for every single provision that I burnt into my brain for the exam. And I used to be more left before Democrats descended into authoritarian, brainwashed woke-*****. It makes people dumb cause there isn't any real descent. It has made many Democrats ignorant of issues, and Republicans smarter cause they've had to think outside the box to deal with censorship, intense criticism, and antagonistic rhetoric.

 

Their hypocrisy is exceeded only by the sheer Gall and temerity it takes to be the biggest freaking hypocrites in the entire universe

 

I couldn't do it. They don't have self-awareness. I don't need Democrats to tell me about the origins of Covid-19 when they were actively covering up those facts for over a year and raving like brainwashed lunatic about it being a conspiracy theory. As if they're suddenly an authority on the issue. It's absurd. You literally do the work reading and posting the study with the page number after a direct quote, but they reject the fact that labs funded with American tax dollars were mutating the viruses from other animals to create a super strain.

They think they're informed cause they scanned the NYTimes article that was written at a 10th grade reading level. I honestly don't think most of them read those articles, and certainly not a proficient level to catch some of the BS contradictions that could be found in the last paragraphs. I can't count the number of times where I've found a paragraph where an expert completely discredits an entire narrative of an article.

 

Biden released his taxes, nothing to hide

Trump still fighting to keep his taxes from being released

 

I know it's kind of sort of unrelated but it really irks the hell out of me is when I see a reptile labeled as something in a publication when it is clearly not that something it is labeled as perhaps the same people moonlight at the New York times?

But yes the amount of dirt one must ignore to be a Democrat could fill a line of septic tank trucks stretching around the equator.