Realizing that in 2020 we speak in silly absolutes (e.g. if you aren’t outraged that your toaster has darkness settings then you are racist) we’ll preface this post with the following:

We’re apolitical.  We don’t care.  Democrat or Republican.  Whatever.

Can we all just get along?

Anyway…

Back in 2016 we wrote about the Delaware address shared by nominees Hillary Clinton and Donald Trump.  Each ran one (or more) LLCs through tax-friendly Delaware as a means of reducing or avoiding taxation.

Fast forward to 2020 and the finest the Democrats have to offer is using the same playbook.

Joe Biden and his wife Jill avoided paying payroll taxes on almost $13.3 million in income from book royalties and speaking fees according to their 2017 and 2018 tax returns.  They did so by classifying the income not as wages but as S-Corp profits.

It’s perfectly legal.  It’s highly aggressive.  It’s a bad look for someone hoping to raise taxes on working Americans.

Had Joe and Jill Biden reported their speaking fees and book royalties as income the 2.9% FICA (plus 0.9% “Obamacare tax”) would have provided $505,000 for Medicare/SS.

While Joe’s busy dodging over a half million dollars in payroll taxes he’s bashing President Trump.  He said in response to the payroll tax deferral, “Our seniors and millions of Americans with disabilities are under enough stress without Trump putting their hard-earned Social Security benefits in doubt.”

C’mon Joe!

Hey, we get it.  Politicking is politicking.  Say what you need to say.  Just don’t talk out of both sides of your mouth.