In what was clearly a coordinated hit between Biden and the Media(D), Biden’s anti-Trump ad was released almost immediately after the Times hit piece.
We figure that’s most likely the secret that had Pelosi so giddy when she did her unnatural ‘good Sunday morning’ glitch on the Sunday shows.
They probably think they struck gold by putting the ad out there the way they did, framing Trump as some sort of a tax cheat (although not a soul has alleged any specific wrongdoing) in the commercial paying far less tax than ordinary working stiffs. Meanwhile, others allege those same documents provide evidence that he’s a poor businessman.
Yes, they’re trying to have it both ways.
On the other hand, some people I know would gladly give their eye teeth for an hour alone with his accountant to see if there are any relevant tax strategies that they may have been overlooking in their own businesses.
They’re going after him for his taxes. Is this angle of attack a strong one for Joe to make against Trump? Sure, it might be red meat for the Rachael-Maddow conspiracy set and the Left-of-Lenin Bernie bros among his base, but it’s a dangerous play.
It could boomerang on him like the watermelon did to the poor woman in this clip:
There are two key reasons it could boomerang.
For one, Biden has been using the tax code to shield himself from paying as much taxes as he might otherwise pay. A LOT of taxes.
Back in August, the Wall Street Journal’s Chris Jacobs exposed how the Biden family structured what is called an “S-Corp” to avoid paying hundreds of thousands of dollars in taxes.
“How the Bidens Dodged the Payroll Tax,” was Jacobs’ headline on Aug. 10.
In it, the Journal details how the Bidens set up an S-Corporation to avoid paying more than half a million dollars in taxes they would have otherwise owed.
“Joe Biden responded to President Trump’s partial suspension of payroll-tax collections with a statement calling it the ‘first shot in a new, reckless war on Social Security,’” Jacobs wrote. He continued: “‘Our seniors and millions of Americans with disabilities are under enough stress without Trump putting their hard-earned Social Security benefits in doubt.’ Mr. Biden’s objections might be more persuasive had he and his wife, Jill, not gone out of their way to avoid funding seniors’ entitlement benefits. According to their tax returns, in 2017 and 2018 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.”
Jacobs continued in his expose by noting the corporation the Bidens established to avoid paying the payroll taxes on millions of dollars in income amounts to more than half a million dollars in taxes that Joe and Jill Biden did not pay. —Breitbart
Which is it, Joe? Is working the angles of the tax code to minimize your tax exposure a GOOD thing or a BAD thing? You seem to have two sets of standards. One for Republicans, and another for your team.
But Joe’s hypocrisy isn’t the ONLY reason.
The other reason is far more amusing.
Quoting from an openly hostile piece in the Orlando Sentinal:
…he took advantage of a provision of the Great Recession bailout that allowed income from canceled debt to be completely deferred for five years, then spread out evenly over the next five. He declared the first $28.2 million in 2014.
Once again, his business losses mostly absolved his tax responsibilities. He paid no federal income taxes for 2014.
Interesting. ‘Great Recession bailout’, they said, wasn’t it?
Allows 5-year deferral, followed by being spread evenly over the following five.
If the rules are in any way unfair, then Biden should take it up with whoever was in the White House when those rules were changed.
Oh, THAT’s right! That’s back when Joe Biden was serving with Obama in the White House, isn’t it?
In other words, Joe is angry at Trump for making use of tax provisions his own government had put in place.
Your outrage is weak, Joe.