Republican Study Committee Chair Jim Banks ripped Biden, explaining how Biden had himself ducked taxes, using the very same provisions Biden argues should be eliminated.
As a private citizen in 2017, 2018 and 2019, Biden and first lady Jill Biden routed $13 million in income through two S-corporations - CelticCapri Corporation and the Giacoppa Corporation - to avoid paying taxes that help fund Medicare and the Affordable Care Act, better known as ObamaCare.
The Banks letter to Biden asked, "Do you intend to undo your hypocrisy and pay these taxes back to the American people?".
Banks pointed out the hypocrisy of the Democrats, how they went after President Donald Trump to get his taxes, despite no allegations of any specific wrongdoing, and how Biden wants to impose more taxes but then you have Biden doing this.
"The ACA imposed higher taxes on millions of Americans, but not Joe Biden. He paid $121,000 less in ObamaCare taxes thanks to an obscure tax loophole. Talk about inside baseball," Banks told Fox News.
The newspaper said the Bidens avoided paying 3.8% in Medicare payroll taxes by moving book royalties and speaking-related income into an S-corporation.
Americans for Tax Reform blasted Biden for avoiding paying 3.8% of the Medicare Payroll Tax, and the 0.9% of the Obamacare "Additional Medicare Tax" on the $13 million in alleged income, "This is clear hypocrisy as Biden supports expanding Obamacare and routinely says 'the rich' need to pay their fair share." ATR said he not only used a loophole that the Obama administration fought to close but that he also avoided a tax that his administration in fact created.
It's becoming increasingly difficult to discern fact from fiction, and unfortunately the media has a strong bias. They spin stories to make conservatives look bad and will go to great lengths to avoid reporting on the good that comes from conservative policies. There are a few shining lights in the media landscape-brave conservative outlets that report the truth and offer a different perspective. We must support conservative outlets like this one and ensure that our voices are heard.
Tuesday, April 6, 2021
Paying His Fair Share? Biden Ducks Taxes Using Loophole Obama Administration Was Trying to Get Rid Of
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