The Biden’s have been strangely silent on Trump’s tax returns. Let us hope Trump will use this as a response to what will surely arise tonight in the debate. After all is there any doubt this was a setup for this item to hit the news a couple of days prior to the debate?
I really have come to hate politics and the absurdity of it. No focus or reporting on that which effects our lives and will in the future depending who wins the next election.Maybe lunch bucket Joe could have Hunter shed some light on his tax filings. Bet no one will be interested in leaking that one. So let’s have a go at this one:
Since the left is now in histrionics over President Trump’s perfectly legal use of the US tax code to avoid paying taxes for 10 out of the last 15 years, perhaps they’ll give as much attention to Joe Biden – who used another perfectly legal tax ‘loophole’ to avoid approximately $500,000 in payroll taxes on $15 million in income.
“The Bidens have used their home state’s financial privacy laws to shield his income from public view, by setting up two tax- and transparency-avoidance vehicles known as S corporations,” wrote Grimm. “He and his wife Jill Biden called them CelticCapri Corp. and Giacoppa Corp., respectively, and, according to the Wall Street Journal, have reported more than $13 million in profits the previous two years that weren’t subject to specific disclosure or self-employment taxes.
As CNBC has described, money Biden made from book deals and speeches flowed into the S corporations and was then remitted to Biden and his wife as ‘distributions’ rather than salary. When money is funneled through an S corporation, the recipient doesn’t owe Social Security or Medicare taxes on it, nor can the source of revenue be traced. (In addition to the distributions, the Bidens drew relatively small salaries from the S Corporations: under half a million dollars, for which they owed self-employment taxes.)”
More at Zero Hedge
Just for the record:
Other than that, all is well in the swamp.