President Joe Biden has long demanded that other Americans pay their “fair share” in taxes. However, the details of Biden’s own tax history are raising eyebrows.
President and first lady made more money in 2021 but paid less in taxes
According to a report put out by Breitbart on Sunday, the president and first lady paid less in taxes last year than in 2020 even though they earned more money.
Records show that the Bidens took home $610,702 worth of earned income in 2021 compared with the $607,336 they made in 2020.
Yet despite the roughly $4,000 in additional earned incomes, the first couple actually paid about $7,000 less on their tax bill.
Interestingly, Breitbart also pointed out that the president and first lady donated significantly less to charity in 2021 than the year prior.
Whereas the Bidens gave $30,704 in 2020, that figure was cut to $17,394 the following year. What’s more, their largest contribution in 2021 went to the Beau Biden Foundation.
Said to be focused on combating child abuse, the organization was created in honor of the president’s late son, former Delaware Attorney General Beau Biden.
Biden used corporate loophole to avoid paying payroll taxes
This is not the first time that Joe and Jill Biden’s tax status has come under scrutiny. Wall Street Journal columnist Chris Jacobs explained in 2020 how the couple created an S-Corporation to avoid paying half a million dollars worth of payroll taxes.
Jacobs pointed out that this was done despite Biden’s characterization of then-President Donald Trump’s decision to suspend payroll taxes as the “first shot in a new, reckless war on Social Security.”
“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,” the columnist wrote.
“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,” he continued, adding, “They did so by classifying the income as S-corporation profits rather than taxable wages.”
That led Jacobs to ask how can Biden “claim to protect Medicare and ObamaCare when he avoided more than $500,000 in taxes that fund the two programs?”