BREAKING: @JoeBiden AGAIN dodged thousands of dollars in #Obamacare and #Medicare taxes in his 2019 tax returns. RT/follow along for more details, as I update my @WSJopinion piece in real time...
wsj.com/articles/how-t…
@JoeBiden and @DrBiden released their 2019 tax returns a little bit ago -- you can view them here. They show the Bidens again used a loophole that I profiled in my @WSJopinion piece... 2/ joebiden.com/wp-content/upl…
The issue involves two corporations, CelticCapri Corp. and Giacoppa Corp., through which @JoeBiden @DrBiden funneled their book/speech income. Funneling the income through these S-corps allowed them to avoid #Medicare and #Obamacare payroll taxes... 3/
You can see from page 19 of their tax releases that @JoeBiden @DrBiden received $308,932 in wage income from the two corporations. They DID pay #SocialSecurity and #Medicare taxes on these wages. 4/
However, page 10 of the return shows that @JoeBiden @DrBiden also received $228,703 in income from the two corporations as corporate profits, NOT wages. They DID NOT pay #SocialSecurity and #Medicare taxes on this income. 5/
Given a #Medicare tax rate of 2.9%, @JoeBiden @DrBiden avoided paying roughly $6,632 in #Medicare taxes last year by funneling income through the two corporations. That's on top of the approx. $385K in #Medicare taxes they avoided in 2017 and 2018. 6/ wsj.com/articles/how-t…
Given an #Obamacare payroll tax rate of 0.9%, @JoeBiden @DrBiden also avoided paying roughly $2,058 in #Obamacare taxes by funneling income through their S-corps. Again, that's on top of the roughly $120K they avoided in 2017 and 2018. 7/ wsj.com/articles/how-t…
Before I hear the "But Trump!" rebuttal, I've said @POTUS should release his taxes, and if there are discrepancies, @IRSnews can and should hold him to account.
But whether Trump did or did not pay what he owed should have nothing to do with other people's actions. 8/
Moreover, @JoeBiden is running ads saying #Obamacare "is personal to me" -- at the same time he's dodging #Obamacare taxes.
How personal can it be if he won't pay for someone else's #PreExistingConditions...? 9/
If @TheDemocrats want to run on #Obamacare and #PreExistingConditions, EVERY DEMOCRAT running should have to explain @JoeBiden's conduct.
Do they support him not paying #Obamacare taxes? If not, what will they do about it? Should Biden get audited just like Trump...? 10/
As the old saying goes, people who live in glass houses shouldn't throw stones. If he wants to talk taxes, @JoeBiden's returns make all his claims about supporting #Obamacare go up in smoke.
And maybe, just maybe, @FoxNewsSunday's #ChrisWallace will call him on it tonight. END
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