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The Joe Biden Tax Shelter

Man, when you're a liberal, and CNBC is calling you out? You might be in trouble.

Yet here we are, and by in large, it's gone unnoticed even since the article's publishing on August 6th, of 2020. Why? One can only speculate, but I doubt you'll have to speculate very hard or long to come up with the most likely answer.

You see, in 2017 & 2018, Joe Biden's CelticCapri and Giacoppa S-Corporations (which are shell corporations created for tax haven purposes) were paid $13.2 million dollars for book sales and speaking engagements. Yet, they only recorded income payments to the Bidens of $745,833. This means that only that $745,833 was subject to the 15.3% Medicare and Social Security tax. The rest was taken as an owner's share capital gain, and that means that he sheltered $12,454,167.00 from Medicare and Social Security taxes. (An interesting thing for a candidate who has suddenly embraced Medicare for all...)

Now I could go into all of the nuts and bolts of how it all breaks down and where SS taxes stop and Medicare continues et al (which is in the article above), but as the Wall Street Journal reports after doing all of the funky math, Joe Biden escaped approximately $500,000.00 in Medicare and Social Security taxes in 2017 & 2018. $250.000.00 per year, $20,833.34 per month, or $672.04 per day. With the average Medicare Part-B deductible being $250.00 per year, that means that 2.5 people per day could have been helped or subsidized for an entire year just by the taxes he dodged.

Still think he's not corrupt?

Still think he's better than Trump?

We could sit an argue degrees of culpability ALL DAY LONG. Is Trump worse because the dollars were higher? Is Biden worse because he was a public servant while Trump was a business man spending his own money? It all depends on your point of view, but mine is that they're both horrible.

And before someone throws her in there, no, no one has done any such analysis on Jorgenson because her impact is so negligible that it doesn't even merit the time spent on the research.

You see, the issue is completely partisan, and is being used as a red herring to distract from what the real issues are, such as community policing, riots, religious freedoms, the economic situation, the return of morality to the public square, abortion, the Supreme Court nomination process, Spy Gate, the avoidance of a government shutdown, the ridiculousness of the $2.2 Trillion economic recovery package just introduced by the Democrat leaders in the house, and so much more.

This is an OLD AND TIRED narrative that was tried in 2016, and was rejected by the voters. It wasn't a winning strategy last time and it won't be this time either. Especially when you can point to the person making the accusations and say, "you're no better."

It's time for all of these personal attacks to stop. I challenge the Democrats to run ON THEIR PLATFORM. Lay out your vision for the country. Put it ALL out there. Tell us exactly what the country will look like under a Democratic administration and let us have an up or down vote on the merits, not on, "Orange Man Bad."

They're so scared of what the majority of Americans think of their policies that they refuse to simply lay them out. It's easier to try to campaign on how horrible Trump is instead of reparations, the forcing of secular humanism on the population, the embracing of terroristic regimes in the "name of peace," the abdication of US jurisdiction to the UN, the decimation of the American economic system, the destruction of American infrastructure, power generation, and manufacturing in the name of the green new deal, etc etc etc.

So this is all they have left. "Trump is horrible, vote for us." Yep, their political pitch has become the same as the Libertarians. We're not him, so vote for us, just don't look at what we want to do and you'll be fine pulling that lever.

Well, I think America is finally awake enough not to fall for that. And they'll find out in November.

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