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Posted On: 11/03/2021 8:55:36 AM
Post# of 126826
How the Bidens Dodged the Payroll Tax
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.” 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.
https://www.wsj.com/articles/how-the-bidens-d...1597083162
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.” 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.
https://www.wsj.com/articles/how-the-bidens-d...1597083162
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