{"id":40089,"date":"2020-09-29T13:02:55","date_gmt":"2020-09-29T17:02:55","guid":{"rendered":"https:\/\/www.rightwinggranny.com\/?p=40089"},"modified":"2020-09-29T13:02:55","modified_gmt":"2020-09-29T17:02:55","slug":"its-amazing-how-this-works","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=40089","title":{"rendered":"It’s Amazing How This Works"},"content":{"rendered":"

On August 10, 2020, The Wall Street Journal<\/a> posted an article (if you can’t get into the article, try opening it up in a private window) about Joe Biden’s taxes. While Joe Biden (and the rest of the Democrats) are criticizing President Trump for the amount of taxes he paid (there is no indication that President Trump did anything other than follow the laws that were written by Joe Biden and his pals in Congress), it seems that the Bidens also believed in paying as little in taxes as possible.<\/p>\n

The article reports:<\/p>\n

Joe Biden responded to President Trump\u2019s partial suspension of payroll-tax collections with a statement<\/a> calling it the \u201cfirst shot in a new, reckless war on Social Security.\u201d He continued: \u201cOur seniors and millions of Americans with disabilities are under enough stress without Trump putting their hard-earned Social Security benefits in doubt.\u201d<\/strong><\/p>\n

\n

Mr. Biden\u2019s objections might be more persuasive had he and his wife, Jill, not gone out of their way to avoid funding seniors\u2019 entitlement benefits. According to their tax returns, in 2017<\/a> and 2018<\/a> the Bidens and his wife Jill avoided payroll taxes on nearly $13.3 million in income from book royalties and speaking fees. They did so by classifying the income as S-corporation profits rather than taxable wages.<\/strong><\/p>\n

The Bidens did pay themselves \u201csalaries\u201d from their corporations\u2014CelticCapri Corp. and Giacoppa Corp.\u2014of nearly $750,000 between them over two years, and they paid full taxes on that income. But they circumvented the payroll tax on the nearly 95% of their income that remained. A tax expert interviewed<\/a> by the Journal in 2019 called the Bidens\u2019 scheme \u201cpretty aggressive\u201d; another told the paper it served solely to avoid the payroll taxes.<\/strong><\/p>\n

The article notes:<\/p>\n

According to the Urban Institute, a couple featuring one high earner and one average earner, retiring this year, will have paid a total of $209,000 in Medicare taxes during their working lives. The Bidens avoided paying nearly twice that much in Medicare taxes during two years. The maximum payroll tax affected by Mr. Trump\u2019s suspension is $1,984\u2014less than 1\/250th of the amount the Bidens avoided in 2017-18.<\/strong><\/p>\n

Seems like a bit of hypocrisy.<\/p>\n

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On August 10, 2020, The Wall Street Journal posted an article (if you can’t get into the article, try opening it up in a private window) about Joe Biden’s taxes. While Joe Biden (and the rest of the Democrats) are … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[12939,118,12938,12937,8401],"class_list":["post-40089","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-jill-biden","tag-joe-biden","tag-medicare-taxes","tag-social-security-taxes","tag-the-wall-street-journal"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/40089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40089"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/40089\/revisions"}],"predecessor-version":[{"id":40090,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/40089\/revisions\/40090"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}