(RepublicanPress.org) – President Joe Biden and Democratic lawmakers are scurrying about attempting to force through his roughly $3.5-trillion reconciliation package without any Republican support. They plan to pay for it in part by targeting individuals who avoid paying taxes. As it turns out, reports say there’s reason to suspect Biden of being guilty of not paying his fair share.
On September 21, the Congressional Research Service submitted a memorandum to Rep. Jim Banks (R-IN) indicating Biden may have avoided paying taxes before assuming office. According to the non-partisan group, Biden may owe the IRS as much as $500,000.
Unbelievable!! I asked the nonpartisan Congressional Research Service for a report on multimillionaire Joe Biden’s use of corporate loopholes to avoid paying taxes…
Turns out he wants to raise your taxes, but doesn’t even pay his own! https://t.co/PSJcG13V5C
— Jim Banks (@RepJimBanks) September 23, 2021
As Banks explained, Biden wants to raise Americans’ taxes by about $2.1 trillion to force them to pay their “fair share.” However, he allegedly avoided paying proper payroll taxes funding Medicare and the Affordable Care Act in 2017 despite being worth millions.
According to a 2019 report from The Wall Street Journal, the Bidens improperly used “S Corporations” to transfer more than $13 million in earnings from book sales and speaking engagements in 2017 and 2018. By doing so, they brought the taxable level of income down to less than $800,000 for the purposes of paying Medicare taxes.
Banks pointed out that it’s important that “every American” knows about Biden’s flagrant “hypocrisy.” The congressman alleged the president owes the American people and the IRS “hundreds of thousands of dollars” in past-due taxes.
Copyright 2021, RepublicanPress.org