{"id":1442985,"date":"2022-04-18T08:01:27","date_gmt":"2022-04-18T12:01:27","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1442985"},"modified":"2022-04-18T08:01:54","modified_gmt":"2022-04-18T12:01:54","slug":"tax-records-display-that-within-2021-joe-biden-didnt-pay-his-reasonable-share-in-taxes-again","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tax-records-display-that-within-2021-joe-biden-didnt-pay-his-reasonable-share-in-taxes-again\/","title":{"rendered":"Tax Records Display That, Within 2021, Joe Biden Didn\u2019t \u2018Pay His Reasonable Share\u2019 in Taxes Again"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftax-records-display-that-within-2021-joe-biden-didnt-pay-his-reasonable-share-in-taxes-again%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1442985&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>To the Biden White House, the final working day of last week wasn\u2019t Good Friday\u2014and it wasn\u2019t <a href=\"https:\/\/thefederalist.com\/2022\/04\/15\/jackie-robinsons-great-personal-sacrifice-made-america-a-better-nation\/\">Jackie Robinson Day<\/a>, either. To borrow an analogy from \u201cThe West Wing,\u201d the Biden White House used last Friday as \u201c<a href=\"https:\/\/www.youtube.com\/watch?v=-Bn08Ju_eB8\">Take Out the Trash Day<\/a>,\u201d dumping out President Biden\u2019s <a href=\"https:\/\/www.whitehouse.gov\/wp-content\/uploads\/2022\/04\/2022-04-15-POTUS-Redacted-2021-Federal-and-State-Returns.pdf\">2021 tax returns<\/a> late on a Friday afternoon, ahead of the Easter and Passover holidays.<\/p>\n<p>This year, Tax Day didn\u2019t come until Monday, April 18. One would think that, because Biden has released his tax returns and his predecessor did not, he would want to highlight this fact in a very public manner. Why didn\u2019t Biden wait until Monday, and hold a big press conference where he could wave around his returns for everyone to see, to emphasize the fact that he\u2019s \u201cnot like Donald Trump\u201d?<\/p>\n<p>Because Biden <em>does<\/em> have something to hide. He apparently has a dirty little secret\u2014actually, it\u2019s a pretty big secret\u2014that he doesn\u2019t want the American people to learn about. According to his own Treasury Department, Biden didn\u2019t \u201cpay his fair share\u201d in taxes, and hasn\u2019t for several years.<\/p>\n<h2><strong>Corporate Loophole<\/strong><\/h2>\n<p>I have written about this issue on <a href=\"https:\/\/www.wsj.com\/articles\/how-the-bidens-dodged-the-payroll-tax-11597083162\">several<\/a> <a href=\"https:\/\/thefederalist.com\/2021\/05\/19\/his-returns-show-joe-biden-has-dodged-half-a-million-in-taxes-while-urging-tax-increases\/\">previous<\/a> <a href=\"https:\/\/thefederalist.com\/2022\/04\/11\/joe-biden-who-dodged-obamacare-taxes-now-proposes-expanding-obamacare\/\">occasions<\/a>. Upon leaving the vice presidency in January 2017, Biden and his wife Jill established two S-corporations to handle their book and speech income. By characterizing most of their income as profits from the corporations rather than wages, the Bidens were able to avoid payroll taxes on more than $13 million worth of income.<\/p>\n<p>In 2021, they were back at it again, writing off $61,995 in corporate profits as exempt from payroll taxes, as evidenced on page 13 of their returns:<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/jacobsbiden1-1024x392-1.jpg\" alt=\"\" class=\"wp-image-270844\" width=\"631\" height=\"241\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/jacobsbiden1-1024x392-1.jpg 1024w, https:\/\/thefederalist.com\/wp-content\/uploads\/2022\/04\/jacobsbiden1-300x115.jpg 300w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/jacobsbiden1-768x294-1.jpg 768w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/jacobsbiden1.jpg 1140w\" \/><\/figure>\n<\/div>\n<p>This $61,995 gets broken down in two ways: $29,234 comes from Joe Biden\u2019s CelticCapri Corporation, while $32,761 comes from Jill Biden\u2019s Giacoppa Corporation. In the president\u2019s case, Biden avoided paying 3.8 percent tax on his nearly $30,000 in corporate profits\u20142.9 percent that funds Medicare, and an additional 0.9 percent imposed by Obamacare. (So much for <a href=\"https:\/\/www.youtube.com\/watch?v=4WMRz5fmgIw\">Biden\u2019s claim<\/a> that \u201cObamacare is personal to me.\u201d)<\/p>\n<p>Jill Biden, who earned roughly $67,000 as a teacher at Northern Virginia Community College last year, avoided far more in taxes, as she did not reach <a href=\"https:\/\/www.ssa.gov\/news\/press\/factsheets\/colafacts2021.pdf\">last year\u2019s Social Security wage cap<\/a> of $142,800. Because she would have had to pay Social Security taxes on all wages up to the wage cap, classifying her nearly $33,000 in book income as corporate profits rather than wages meant Jill Biden didn\u2019t just avoid paying Medicare taxes on these earnings\u2014she avoided paying Social Security taxes as well.<\/p>\n<p>All told, the Bidens seem to have dodged more than $6,100 in Medicare and Social Security taxes in 2021 alone:<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Joe Biden: $1,110.89 ($29,234 times 3.8 percent)<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Jill Biden: $5,012.43 ($32,761 times 15.3 percent)<\/p>\n<p>This tax evasion comes after the Bidens appear to have <a href=\"https:\/\/thefederalist.com\/2021\/05\/19\/his-returns-show-joe-biden-has-dodged-half-a-million-in-taxes-while-urging-tax-increases\/\">previously avoided<\/a> at least $517,000 in Medicare and Obamacare taxes from 2017 through 2020.<\/p>\n<p>At least part of their scheme included potentially illegal tactics. As I have alleged in a complaint to the IRS regarding both Biden\u2019s tax returns and his accountant\u2019s conduct, I\u2014along with <a href=\"https:\/\/nypost.com\/2021\/09\/23\/biden-could-owe-as-much-as-500k-in-irs-taxes-report\/\">many other<\/a> <a href=\"https:\/\/www.wsj.com\/articles\/joe-biden-used-tax-code-loophole-obama-tried-to-plug-11562779300?mod=article_inline\">tax experts<\/a>\u2014believe that in 2017 and 2018, Biden paid himself such a low salary as to violate IRS guidelines on \u201creasonable compensation.\u201d<\/p>\n<h2><strong>Treasury Says Biden Didn\u2019t \u2018Pay His Fair Share\u2019<\/strong><\/h2>\n<p>Regardless of whether the Bidens\u2019 2021 returns also violated tax laws, they constitute very clear hypocrisy\u2014as one might expect from a career Washington politician. Note this passage from <a href=\"https:\/\/home.treasury.gov\/system\/files\/131\/General-Explanations-FY2022.pdf\">last year\u2019s Treasury budget<\/a> making the argument for closing the very loophole Biden continued to exploit in office, just as he had the past four years:<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>Different treatment [i.e., allowing S-corporation profits to avoid payroll tax] is unfair, inefficient, distorts choice of organizational form, and provides tax planning opportunities for business owners, particularly those with high incomes, to avoid paying their fair share of taxes.<\/p>\n<\/blockquote>\n<p>If Biden really cared about the wealthy \u201cpaying their fair share,\u201d he would look in the mirror, get out his checkbook, and write a check for the hundreds of thousands of dollars in Medicare and Obamacare taxes he appears to have dodged for the past five years. That would involve practicing what one preaches\u2014or in other words, having integrity. Try that some time, Mr. President.<\/p>\n<hr class=\"wp-block-separator\" \/>\n<div class=\"article-author-description fst-italic\">\n  Chris Jacobs is founder and CEO of Juniper Research Group, and author of the book, &#8220;<a href=\"https:\/\/www.amazon.com\/dp\/1645720020\">The Case Against Single Payer<\/a>.&#8221; He is on Twitter: <a href=\"http:\/\/www.twitter.com\/chrisjacobshc\">@chrisjacobsHC<\/a>. Previously he was a senior health policy analyst for the Texas Public Policy Foundation, a senior policy analyst in The Heritage Foundation\u2019s Center for Health Policy Studies, and a senior policy analyst with the Joint Economic Committee\u2019s Senate Republican staff. During the debate over the Patient Protection and Affordable Care Act, popularly known as Obamacare, Jacobs was a policy adviser for the House Republican Conference under then-Chairman Mike Pence. In the first two years of the law\u2019s implementation, he was a health policy analyst for the Senate Republican Policy Committee. Jacobs got his start on Capitol Hill as an intern for then-Rep. Pat Toomey (R-Pa.). He holds a bachelor\u2019s degree in political science and history from American University, where he is a part-time teacher of health policy. He currently resides in Washington, D.C.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>To the Biden White House, the final working day of last week wasn\u2019t Good Friday\u2014and it wasn\u2019t Jackie Robinson Day, either. To borrow an analogy from \u201cThe West Wing,\u201d the<\/p>\n","protected":false},"author":521,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1442985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1442985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/521"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1442985"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1442985\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1442985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1442985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1442985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}