As Biden Rants About Corporations Needing to Pay Their Fair Share, House GOP Levels Him with Brutal Tweet
If you tuned in to the first half of President Joe Biden’s State of the Union speech on Tuesday, you may have heard a lot of prattling from Biden about raising taxes on corporations and higher-income Americans to fund his multifarious programs.
The logic, now as ever, is that it’s time for those people to pay their “fair share.”
This prompted a devastating tweet from the House Judiciary Committee Republicans wondering when the Biden family was planning to do the same.
For those of you who didn’t catch the Tuesday speech, here was a sample of the “fair sharing” rhetoric:
President Biden calls for higher taxes on corporations and the wealthiest Americans.
He says: “I’m a capitalist. But pay your fair share… The tax system is not fair… Nobody earning less than $400,000 a year will pay an additional penny in taxes.” pic.twitter.com/5jIvbwOOcp
— Scripps News (@scrippsnews) February 8, 2023
“And we pay for these investments in our future by finally making the wealthiest and the biggest corporations begin to pay their fair share,” Biden said, as if they hadn’t been pulling their weight for the history of taxation in this republic.
“I’m a capitalist. But just pay your fair share,” he said. “I think a lot of you at home — a lot of you at home agree with me and many people that you know — the tax system is not fair. It is not fair.”
He went on to claim “that in 2020, 55 of the largest corporations in America, the Fortune 500, made $40 billion in profits and paid zero in federal taxes. Zero.”
“Folks, that’s simply not fair,” the president said. “But now, because of the law I signed, billion-dollar companies have to pay a minimum of 15 percent. God love them. Fifteen percent. That’s less than a nurse pays!”
Biden went on to say that “under my plans, as long as I’m president, nobody earning less than $400,000 will pay an additional penny in taxes.
“Nobody. Not one penny.”
Agreed, the House Judiciary Committee GOP’s Twitter account said. Let’s get Hunter Biden to pay his fair share.
“How much did Hunter Biden make in profits using Joe Biden’s name? How much did he pay in taxes?” the account tweeted shortly after Biden made the remark.
How much did Hunter Biden make in profits using Joe Biden’s name? How much did he pay in taxes?
— House Judiciary GOP (@JudiciaryGOP) February 8, 2023
As The Washington Post reported in October, investigators looking into Hunter Biden’s affairs “have gathered what they believe is sufficient evidence to charge him with tax crimes and a false statement related to a gun purchase, according to people familiar with the case. The next step is for the U.S. Attorney in Delaware, a Trump administration holdover, to decide on whether to file such charges, these people said.”
“The investigation into Hunter Biden began in 2018, and became a central focus for then-president Donald Trump during his unsuccessful 2020 reelection effort,” the Post reported at the time.
“Initially, the investigation centered around Hunter Biden’s finances related to overseas business ties and consulting work. Over time, investigators with multiple agencies focused closely on whether he did not report all of his income, and whether he lied on gun purchase paperwork in 2018, according to the people familiar with the situation, who spoke on the condition of anonymity to discuss an ongoing case.
“Agents determined months ago they had assembled a viable criminal case against the younger Biden. But it is ultimately up to prosecutors at the Justice Department, not agents, to decide whether to file charges in cases where prosecutors believe the evidence is strong enough to lead to a likely conviction at trial.”
And according to The Daily Caller News Foundation, the IRS put a tax lien on the president’s son for $112,805 for unpaid taxes in 2015; this would have covered the time he was on the board of Ukrainian energy giant Burisma Holdings.
Mind you, this investigation had been ongoing during the 2020 election, yet Hunter Biden didn’t acknowledge it until one month after it was over — when federal agents wanted to interview him.
“I take this matter very seriously but I am confident that a professional and objective review of these matters will demonstrate that I handled my affairs legally and appropriately, including with the benefit of professional tax advisors,” Hunter said in a statement in December 2020.
And keep in mind, he’s not the only member of the Biden family who doesn’t want to pay his or her “fair share.” In recent tax years, Joe and Jill Biden have used S corporations they established in Delaware to avoid paying Social Security and Medicare taxes on tens of millions that they’ve earned — including in the tax year 2021.
Are the Bidens trying to get Hunter to pay his “fair share,” to use the president’s own wording? Well, according to them, despite the fact that Hunter has made oodles of money off of his foreign clientele — most of which, let’s face it, is business drummed up by his surname and not by his talents — he’s absolutely “innocent” of any refusal to pay his “fair share,” so to speak.
“Everybody and their brother has investigated Hunter,” first lady Jill Biden said during an October interview with NBC News.
“They keep at it, and at it, and at it. I know that Hunter is innocent. I love my son, and I will keep looking forward.”
So there you have it: The Bidens are totally unconcerned with whether their son has paid his fair share of the not-inconsiderable amount of money he’s earned off the family name.
And are the Bidens themselves going to stop using S corporations to avoid Social Security and Medicare? Don’t count on it.
The 87,000 new IRS agents the administration has signed onto hiring will doubtlessly be considerably more concerned with whether you or your company have paid your “fair share,” however — and don’t plan on being able to “keep looking forward” until they’ve decided you have.
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