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aztek

Biden may owe up to $500K in back taxes

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aztek

 

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President Biden may have improperly avoided paying Medicare taxes before he took office and could owe the IRS up to $500,000, according to a Congressional Research Service report.

"Joe Biden wants to raise taxes by $2.1 trillion while claiming the rich need to pay their ‘fair share.’ But in 2017, multi-millionaire Joe Biden skirted his payroll taxes — the very taxes that fund Medicare and Obamacare," said Rep. Jim Banks, who chairs the conservative Republican Study Committee. 

Banks said the report indicated that Biden improperly used "S corporations" while he and first lady Jill Biden raked in over $13 million on speaking fees and book sales in 2017 and 2018, but counted less than $800,000 of it as a salary that could be taxed for Medicare.

 

https://www.foxnews.com/politics/biden-may-owe-up-to-500k-in-back-taxes-report-says

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Myles

This wouldn't surprise me. 

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Autochthon1990

The report does not name the president, but it analyzes cases where the IRS won a judgment against taxpayers who improperly exploited the S corporations to avoid the Medicare tax.

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acute

Fox News:

"Fair and balanced." :yes:

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aztek
28 minutes ago, acute said:

Fox News:

"Fair and balanced." :yes:

of course it is way more than cnn,  however none of it is relevant, info came from Congressional Research Service, 

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Michelle

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Robotic Jew

What was the line....If he cheats his way to not paying taxes it makes him smart and not a criminal?

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Shooter McGavin

That's the line I've heard all the time. I guess that makes Biden a very smart man by Republican logic.

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aztek

Maybe,maybe not, we need to invstigate it, to find out if he usd legal loopholes, like trump did, or outright cheated, which would make him a criminal, not a smart man.  And how can even anyone entertain the idea that he is a smart man, lol. Seeing countless videos of him now, or even before. What kind of an idiot brags about using money that congress allocated as an aid a country, as his bribe to close a criminal investigation into hs son.

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Agent0range
1 hour ago, aztek said:

Maybe,maybe not, we need to invstigate it, to find out if he usd legal loopholes, like trump did

Hmmm...did Trump share his taxes with you, so you are actually privy to the knowledge that he used legal loopholes?  Because he didn't share them with anyone else.

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docyabut2

Biden is goings to raise all of our taxes on every body ")that trump didnt:( 

Edited by docyabut2

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DieChecker

Not surprising to me. Actual "Rich People", have tax lawyers that do all this for them, and who take the blame if anything they "mistakenly" forgot to do is found. Likely the accountant who made this happen knew exactly what he was doing and had a pretty good idea he'd get away with it. But 2018 and 2019 were before Biden expected to get elected, and thus be out under more harsh scrutiny. So now they gir caught. Probably just pay back tax, via fine and be done. 

Thats if they own up to it at all.

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DieChecker
7 hours ago, docyabut2 said:

Biden is goings to raise all of our taxes on every body ")that trump didnt:( 

Well, yes, taxes will effectively go up for everyone. You can't tax the rich and expect them (the rich) not to push it down onto the poor in some way. 

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