RightNation.US
News (Home) | Righters' Blog | Hollywood Halfwits | Our Store | New User Intro | Link to us | Support Us

RightNation.US: Biden Caught Using Shady Tax Loophole, Pocketing $500,000 - RightNation.US

Jump to content

Page 1 of 1
  • You cannot start a new topic
  • You cannot reply to this topic

Biden Caught Using Shady Tax Loophole, Pocketing $500,000 Rate Topic: -----

#1 User is offline   MTP Reggie 

  • <no title>
  • View gallery
  • Group: +Gold Community Supporter
  • Posts: 35,746
  • Joined: 13-January 04

Posted 12 July 2019 - 08:06 AM

Biden Caught Using Shady Tax Loophole, Pocketing $500,000
2020 Democrat pockets half-million dollars using scheme Obama tried to shut down
By: Jay Greenberg
NeonNettle
on 12th July 2019 @ 12.00am

<More Here>

Presidential candidate Joe Biden has been caught using a shady tax loophole, netting the Democratic 2020 frontrunner a cool $500,000.

The former vice president managed to pocket half a million dollars by using the same tax-dodging scheme that Obama tried to shut down before leaving the White House. Tax returns filed by Obama's VP indicate he and his wife avoided paying over $500,000 in taxes using the legal trick, according to a report by the Wall Street Journal. By funneling money through different entities, the Bidens were able to divert funds away from Uncle Sam and directly into their own bank accounts.

Named after two of its most famous adopters, former House Speaker Newt Gingrich and former Sen. John Edwards - the Democrats' vice-presidential candidate in 2004 -, the rule is colloquially known as the Gingrich-Edwards tax loophole. Although the tax scheme is not technically illegal, it's considered amoral enough that that former President Barack Obama tried to close the loophole in the law in his final budget.

According to the Western Journal, the Gingrich-Edwards tax scam essentially allows earners to funnel money obtained by self-employment into entities known as "S corporations," which in turn pay them back. The money is treated like corporate profits, which allows those who use it to escape the 3.8 percent self-employment tax they would have incurred had they been paid directly. And that's exactly what Biden and his wife, Jill, did with their money from books and speeches.

(snip)

<More Here>
0

#2 User is offline   MTP Reggie 

  • <no title>
  • View gallery
  • Group: +Gold Community Supporter
  • Posts: 35,746
  • Joined: 13-January 04

Posted 12 July 2019 - 08:08 AM

Posted not because Biden did something currently legal, but because RN's (and the country's) lefties (HYPOCRITES) would cry bloody murder if it were reported that a Republican did this.
0

#3 User is offline   Liz 

  • ***-----------***
  • Group: Moderator
  • Posts: 51,151
  • Joined: 28-February 03

Posted 12 July 2019 - 08:13 AM

That will only raise his stock in the eyes of his fellow democrats.
0

#4 User is offline   BerkeleyUnderground 

  • <no title>
  • Group: Silver
  • Posts: 17,444
  • Joined: 20-April 04

Posted 12 July 2019 - 08:21 AM

I heard on the news that Biden, since leaving office when the Trump Administration came in, has pocketed over $15 million bucks.

What the heck could this idiot do to earn that much so quickly.

And why the heck would he trade the rigors and the iffy prospect of running for President over the millions he's currently raking in?
0

#5 User is offline   Noclevermoniker 

  • Wire Dachsies Matter
  • Group: +Silver Community Supporter
  • Posts: 16,945
  • Joined: 13-November 03

Posted 12 July 2019 - 08:26 AM

 BerkeleyUnderground, on 12 July 2019 - 08:21 AM, said:

I heard on the news that Biden, since leaving office when the Trump Administration came in, has pocketed over $15 million bucks.

What the heck could this idiot do to earn that much so quickly.

And why the heck would he trade the rigors and the iffy prospect of running for President over the millions he's currently raking in?

Ego.
0

#6 User is offline   BerkeleyUnderground 

  • <no title>
  • Group: Silver
  • Posts: 17,444
  • Joined: 20-April 04

Posted 12 July 2019 - 08:47 AM

'Middle Class Joe' No More: Biden Earned $15 Million Since Leaving Office

Former Vice President Joe Biden has referred to himself as "middle class Joe" throughout his political career, and used to regularly joke about being the "poorest person on Congress."

Those terms no longer apply.

Biden and his wife, Jill, have together earned more than $15 million since Biden left office. That's according to tax returns and other financial disclosure forms released by Biden's campaign on Tuesday. The bulk of the Bidens' earnings come from book sales and paid speaking engagements – two routine sources of income for former high-ranking public officials.

https://www.npr.org/...-leaving-office

This post has been edited by BerkeleyUnderground: 12 July 2019 - 08:47 AM

0

#7 User is online   zurg 

  • <no title>
  • Group: +Copper Community Supporter
  • Posts: 27,800
  • Joined: 19-October 09

Posted 12 July 2019 - 08:59 AM

 BerkeleyUnderground, on 12 July 2019 - 08:21 AM, said:

I heard on the news that Biden, since leaving office when the Trump Administration came in, has pocketed over $15 million bucks.

What the heck could this idiot do to earn that much so quickly.

And why the heck would he trade the rigors and the iffy prospect of running for President over the millions he's currently raking in?

If Biden became president heíd tax himself poor. Joe, let Trump handle it and your grandchildren will thank you for it.

ETA: what am I saying. When in power, rules donít apply to democrats. So... never mind

This post has been edited by zurg: 12 July 2019 - 08:59 AM

0

#8 User is offline   RedSoloCup 

  • <no title>
  • Group: +Copper Community Supporter
  • Posts: 5,278
  • Joined: 05-June 15

Posted 12 July 2019 - 09:02 AM

#LockHimUp
0

#9 User is offline   WillieChuck 

  • <no title>
  • Group: 100+ Posts NonDonor
  • Posts: 547
  • Joined: 07-September 03

Posted 12 July 2019 - 12:15 PM

It's legal or it isn't. No such thing as a legal loophole. I have no issues using existing laws to minimize his tax burden to the federal government. If they don't like the law as written, change the law.
0

#10 User is online   searcher 

  • <no title>
  • Group: Bronze
  • Posts: 2,823
  • Joined: 06-October 03

Posted 12 July 2019 - 12:31 PM

 WillieChuck, on 12 July 2019 - 12:15 PM, said:

It's legal or it isn't. No such thing as a legal loophole. I have no issues using existing laws to minimize his tax burden to the federal government. If they don't like the law as written, change the law.



I agree. If it's legal more power to him. If people want to give him money, no problem. I sure wouldn't turn it down.

Mark
0

#11 User is online   zurg 

  • <no title>
  • Group: +Copper Community Supporter
  • Posts: 27,800
  • Joined: 19-October 09

Posted 12 July 2019 - 03:55 PM

 WillieChuck, on 12 July 2019 - 12:15 PM, said:

It's legal or it isn't. No such thing as a legal loophole. I have no issues using existing laws to minimize his tax burden to the federal government. If they don't like the law as written, change the law.

I agree on the legality comment. It either is or it isnít.

But thatís not what bothers people, although perhaps they arenít expressing it correctly. What brothers me at least is the hypocrisy of calling for high taxes especially for the wealthier/higher earners, while avoiding taxes himself when in the shadows. Itís the hypocrisy.
0

#12 User is offline   Noclevermoniker 

  • Wire Dachsies Matter
  • Group: +Silver Community Supporter
  • Posts: 16,945
  • Joined: 13-November 03

Posted 12 July 2019 - 04:16 PM

 zurg, on 12 July 2019 - 03:55 PM, said:

I agree on the legality comment. It either is or it isnít.

But thatís not what bothers people, although perhaps they arenít expressing it correctly. What brothers me at least is the hypocrisy of calling for high taxes especially for the wealthier/higher earners, while avoiding taxes himself when in the shadows. Itís the hypocrisy.

This. And the bleating over the ďrichĒ not paying theyah fayah shayah.
0

#13 User is offline   donsaliman 

  • <no title>
  • Group: +Gold Community Supporter
  • Posts: 2,900
  • Joined: 19-March 03

Posted 12 July 2019 - 06:25 PM

The liberals will never hear about this as the MSM will not report ithttp://www.rightnation.us/forums/public/style_emoticons/default/confused.gif
0

#14 User is offline   MontyPython 

  • Pull My Finger.....
  • View gallery
  • Group: Gold
  • Posts: 57,108
  • Joined: 28-February 03

Posted 13 July 2019 - 12:49 AM

Wait wait wait...A Democrat did something unethical?

:o
0

#15 User is offline   corporal_little 

  • What is your major malfunction....
  • Group: Bronze
  • Posts: 8,380
  • Joined: 09-January 04

Posted 13 July 2019 - 04:06 AM

View PostMontyPython, on 13 July 2019 - 12:49 AM, said:

Wait wait wait...A Democrat did something unethical?

:o


I know youíre being sarcastic here, but I donít think this is unethical at all. Itís actually a pretty common deal.
0

#16 User is offline   MTP Reggie 

  • <no title>
  • View gallery
  • Group: +Gold Community Supporter
  • Posts: 35,746
  • Joined: 13-January 04

Posted 13 July 2019 - 07:42 AM

View PostMontyPython, on 13 July 2019 - 12:49 AM, said:

Wait wait wait...A Democrat did something unethical?

:o


It's unethical only if a Republican used the 'loophole'.
0

#17 User is offline   MontyPython 

  • Pull My Finger.....
  • View gallery
  • Group: Gold
  • Posts: 57,108
  • Joined: 28-February 03

Posted 13 July 2019 - 11:08 AM

View Postcorporal_little, on 13 July 2019 - 04:06 AM, said:

I know youíre being sarcastic here, but I donít think this is unethical at all. Itís actually a pretty common deal.


Notice I didn't say "illegal", just "unethical". Lots of unethical things are common.


View PostMTP Reggie, on 13 July 2019 - 07:42 AM, said:

It's unethical only if a Republican used the 'loophole'.


:yes:
0

#18 User is offline   Dean Adam Smithee 

  • School of the Cold Hard Facts
  • View gallery
  • Group: Platinum Community Supporter
  • Posts: 20,746
  • Joined: 11-December 04

Posted 13 July 2019 - 11:36 AM

View PostBerkeleyUnderground, on 12 July 2019 - 08:21 AM, said:

I heard on the news that Biden, since leaving office when the Trump Administration came in, has pocketed over $15 million bucks.

What the heck could this idiot do to earn that much so quickly.

And why the heck would he trade the rigors and the iffy prospect of running for President over the millions he's currently raking in?


Because he's likely ONLY raking in the millions on the speculation that he MIGHT be President someday.

The day after he "retires" from public life? That's when all his books and transcripts of speeches that he's currently getting $millions for will start showing up in the twenty-five cent bargain bin at your local bookstore.
0

#19 User is offline   Hieronymous 

  • Men with ropes around their necks don't always hang
  • Group: Platinum Community Supporter
  • Posts: 9,043
  • Joined: 16-April 09

Posted 13 July 2019 - 01:17 PM

View PostBerkeleyUnderground, on 12 July 2019 - 08:21 AM, said:

I heard on the news that Biden, since leaving office when the Trump Administration came in, has pocketed over $15 million bucks.

What the heck could this idiot do to earn that much so quickly.

And why the heck would he trade the rigors and the iffy prospect of running for President over the millions he's currently raking in?

I remember during the 2016 debates Trump asking about Hillary, "How can someone who has spent their life in public service accumulate 250 million?
0

Share this topic:


Page 1 of 1
  • You cannot start a new topic
  • You cannot reply to this topic

1 User(s) are reading this topic
0 members, 1 guests, 0 anonymous users