Pay your fair share…
How many times have we heard that come out of Joe Biden’s mouth?
Well, reports are now surfacing that Biden may have improperly used a tax loophole, which means he may owe Uncle Sam a hefty check.
What About You, Joe?
After Biden left office, he had a windfall come his way.
Between speaking engagements and writing a book to capitalize on his son’s death, Biden made millions.
All told, Jill and Joe Biden raked in more than $13 million in the two years after leaving office.
So, to avoid paying his full fair share, Biden filed as an S-Corp.
This enabled him to pay a much lower tax rate than if he had filed normally.
According to a new Congressional Research Service report, Biden’s filings may not have been on the up-and-up.
Rep. Jim Banks (R-IN) stated, “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.”
Had Biden not filed using the S-Corp designation, he would have had to pay an additional 3.8 percent in self-employment tax.
This move saved him about $500,000 in taxes.
Biden is set to unleash the IRS on everyday Americans, yet he exploits tax loopholes not to pay his full taxes.
With the narrative Democrats are using, would that not make him a hypocrite?
Sources: Fox News & New York Post