Joe Biden Dodged Half a Million in Taxes, and He Wants You To Pay Your ‘Fair Share’
In his speech to Congress last Wednesday and his multi-trillion-dollar plan for “human infrastructure” released earlier that day, President Biden proposed yet another tax increase, this one on purportedly “wealthy” individuals and families. In his address Wednesday evening, Biden used the words “fair share” on no fewer than five separate occasions to justify these proposed revenue hikes.
Yet with his own taxes, Joe Biden didn’t pay his “fair share.” Upon leaving the vice presidency in early 2017, he and his wife Jill exploited a tax loophole of questionable legality to dodge hundreds of thousands of dollars in taxes—and used the savings to fund lavish real estate holdings.
Biden’s personal conduct raises two obvious questions: How can someone who avoided more than $500,000 in taxes to fund his luxury lifestyle demand that others “pay their fair share”? And how can someone proposing the biggest expansion of government since Franklin Delano Roosevelt claim he supports more federal spending, when he wouldn’t pay for that spending himself? . . .
I previously reported on the details of the Bidens’ tax avoidance in the years following Joe Biden’s service as vice president. From 2017 through 2019, Joe and Jill Biden classified a total of $13.5 million in book and speech income as profits from their two corporations, rather than as cash wages.
While the couple paid full income taxes on all their revenue, classifying most of their earnings as corporate profits rather than wages allowed the Bidens to avoid paying $513,540 in payroll taxes on their $13.5 million in declared corporate profits. Tax experts interviewed by the Wall Street Journal in 2019 called the Bidens’ maneuvers “pretty aggressive,” and stated that they existed solely to circumvent paying payroll taxes. (Read more from “Joe Biden Dodged Half a Million in Taxes, and He Wants You To Pay Your ‘Fair Share’” HERE)
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