Joe Biden, Tax-Raising Tax Cheat
To finance $trillions in frivolous spending, Joe Biden intends not only to inflate US currency but also to raise taxes, close loopholes, and crack down on tax cheats. To facilitate this, he wants to feed the IRS an extra $80 billion to make it even more powerful. His administration has announced its intention to monitor all personal financial transactions of over a mere $600, so that no one can hold back money that bureaucrats have decided rightfully belongs to Big Government. Meanwhile, Biden himself appears to be a tax cheat who may owe the IRS as much as $500,000 in back taxes.
The allegation is based on a new report drafted by the nonpartisan Congressional Research Service.
From the New York Post:
Biden and first lady Jill Biden routed more than $13 million through S corporations and counted less than $800,000 of it as salary eligible for the Medicare tax — exempting the rest from what would have been a 3.8 percent rate…
Yet this socialist demagogue incessantly barks that people handing over as much as half of their income to federal and state government are not paying their “fair share.”
“Courts have agreed with the IRS that shareholder-employees are subject to employment taxes when shareholders take distributions, dividends, or other forms of compensation in lieu of reasonable compensation,” the report says.
Not even a swarm of locusts could match the mindless greed of today’s neo-Marxist Democrats. Their hypocrisy is on the same gargantuan scale as their tax-and-spend looting. If there is any justice, their contemptuous arrogance will be their downfall.
On a tip from Varla.
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