Biden owes $127K in taxes, claims IRS whistleblower complaint
Jordan: This was a family enterprise
SHOCKING VIDEO!
It Finally Happened……now what?
https://www.youtube.com/watch?v=mvsVr3OPzvA
He learned It From Watching YOU
https://www.youtube.com/watch?v=qg-kXkDKVpM
Tucker: Biden has not been able to think clearly for years now
Hannity: This is at the core of Biden's failed presidency
Leaked IRS data expose manipulation of US tax system by the ultra-wealthy
The nonprofit news organization ProPublica published on Wednesday an analysis of the top 400 income earners in the US. The report reveals how much income tax the wealthy elite pay and illustrates how the US tax system is itself structured to benefit the personal wealth of a handful of individual billionaires and multimillionaires.
Based on a trove of leaked IRS data, the ProPublica report shows that it took an average of $110 million in income per year between 2013 and 2018 to enter the top 400 list. The data confirm what many already know—that the tax laws in America are structured to benefit the super-rich and that this set-up is a contributing factor in the overall growth of social inequality in the US.
The report shows that the highest earning Americans do not pay the highest income tax. ProPublica notes, “On average, the rate of income tax that people pay does climb as incomes ascend into the top 1 percent, but when you get to the range of $2 million to $5 million, that trend stops. The group earning in this range, composed mostly of business owners and workers with extremely high salaries, paid an average income tax rate of 29 percent from 2013 to 2018. After that, average tax rates actually drop the further up in income you go.”
The analysis begins by pointing out that many billionaires “didn’t even come close” to making the top 400 list because they use write-offs to erase taxable income. “Other billionaires, like Warren Buffett, simply avoid income even as their wealth rises,” the report says.
Buffet’s average personal wealth was $70 billion across the six years of the ProPublica report— from 2013 to 2018–but his average income during that timeframe was just $27 million and he is not on the top income earners list.
The report also explains that billionaires often use the “Buy, Borrow, Die” method in which they “borrow against their wealth to avoid taxes, then their estates are able to skirt taxes after their deaths.”
While one aspect of the data published by ProPublica shows how the super-rich “work” the system to their significant advantage, the report also says “in the American system, there’s a huge difference between how we tax wages and how we tax investments. Income from financial assets is generally taxed at a lower rate.”
As in every country of the world, the extent of inequality in the US is difficult to comprehend due its sheer magnitude. The ProPublica report explains, for example, that it would take a typical American with an income of $40,000 per year “to work for 2,750 years to make what the lowest-earning person in this group made in one,” and the typical American “would have to work for 25,000 years to make $1 billion,” which was made on average by the top 11 individuals on the list.
Tech billionaires represent 10 of the top 15 income earners and most of their income came from selling stocks. Among the names on this list are Bill Gates (Microsoft, $2.85 billion), Larry Ellison (Oracle, $1.07 billion), Steve Balmer (Microsoft, $1.05 billion), Sergey Brin (Google, $1.04 billion), Larry Paige (Google, $990 million) and Jeff Bezos (Amazon, $832 million). These billionaires paid an average of 18 percent in taxes on their income over six years.
The largest group of super-wealthy income earners come from the hedge fund industry. Representing approximately one-fifth of the entire list (80 individuals), the income of the hedge fund managers comes directly from stock trades, options and the other financial instruments of their firms. While these individuals are less known to the public, the founder of Citadel, Kenneth Griffin, raked in an average of $1.68 billion per year from 2013 and 2018 and paid an effective 29.2 percent in taxes.
Founders of private equity firms were another group that ProPublica found stood out on the top 400 list. These individuals make their money by buying companies and reselling them at a profit. The top 10 income earners in this group paid an effective average tax rate of 20 percent between 2013 and 2018.
The greatest combination of highest incomes and lowest tax rates for the super-rich stemmed from those who made stock sales taxed at the lower rate that was established in 2013 during the Obama administration. The report says that since then, the “long-term capital gains rate has been 20 percent, about half the top rate on ordinary income (37 percent in 2018).”
Former Microsoft CEO Bill Gates benefited from this arrangement because his average yearly income of $2.85 billion came from sales of his former company’s stock and, as the report notes, “every penny of Gates’ taxable income was eligible for the lower rate” and this was generally true for the other tech billionaires as well.
Others who also benefited from the lower dividend tax rate enacted by the Democratic Party were the Walton (Walmart) and DeVos (Amway) family heirs. The report says that “the 11 Walton descendants in the top 400 saved $371 million a year due to this tax change.”
One individual who came in for specific mention in the ProPublica report is billionaire and former mayor of New York City, Michael Bloomberg. Bloomberg successfully achieved one of the lowest tax rates of anyone on the top 400 list. Bloomberg took annual income deductions of more than $1 billion, mostly through charitable contributions. The report says, “From 2013 to 2017, he also wrote off an average of $409 million each year from what he’d paid in state and local taxes.”
Although the Trump-era 2018 tax overhaul limited those deductions to $10,000, the bill introduced a new massive deduction that Bloomberg took advantage of. The Tax Cuts and Jobs Act was rushed through the legislative process and permitted so-called “pass through” profits to avoid taxation. For Bloomberg, this law enabled him to claim an income deduction of more the $183 million and reduce his taxes by nearly $68 million. On an average income of $2.05 billion, Bloomberg paid an effective tax rate of 4.1 percent, which is lower than the rate paid by an average American worker making $40,000 to $50,000 per year (5 percent).
While the owners and executives of tech monopolies, private equity and hedge fund businesses paid between 17 and 26 percent effective tax rates, the owners of manufacturing businesses paid on average 30 percent in taxes.
The publication of the income tax data by ProPublica comes amid a campaign for the Biden administration to push for a 20 percent minimum tax rate on all US households with net worth of $100 million or more. It is expected that this proposal will never make it to the floor of the US Senate given that Senator Joe Manchin (Democrat from West Virginia) has already said he will not support it and the entirety of congressional Republicans are opposed to it.
Certain elements within the ruling elite are concerned that the grotesque levels of social inequality—including the rigging of the tax system to nakedly benefit wealth accumulation by the ultra-rich—has primed the conditions for a social eruption in the US which threatens to overturn the entire capitalist order. A group called Patriotic Millionaires—a network of wealthy individuals who advocate raising taxes on their class—responded to the ProPublica report by saying that “it’s time to tax billionaires.”
Jordan: ‘There Are 4.8 Million Reasons’ Why Biden Not Being Upfront About His Family’s Wealth
Wednesday on FNC’s “The Ingraham Angle,” Rep. Jim Jordan (R-OH) discussed President Joe Biden and the Biden administration downplaying allegations his family profit off of his office.
Jordan referred to money the younger Biden allegedly received from foreign interests.
“Well, particularly that statement where he said, I don’t think you should get wealthy just because you’re in high office,” he continued. “Well, there are 4.8 million reasons why that statement’s not true, not accurate because that’s what his son got paid. And we now know based on these text messages and emails that it was a family enterprise.”
“That’s what Hunter Biden got paid from this Chinese energy company, CEFC, $4.8 million, hundreds of thousands of dollars each and every month coming to him and his uncle part of the family enterprise,” Jordan continued. “So that just doesn’t fly. These guys have – it’s been that way for a long time. It’s just now starting to come to the surface. And, look, the press now has to admit that what we all said 18 months ago was true. The laptop was real. The eyewitness was real. The emails were real. It was all real. Except for that fake line we got from 51 former Intel experts saying, it was Russian disinformation.”
Follow Jeff Poor on Twitter @jeff_poor
Tucker: Biden has not been able to think clearly for years now
Hannity: This is at the core of Biden's failed presidency
Who exactly was Biden talking to during his many stays in Delaware?
When a man becomes president, he suddenly gains a new appendage: The Secret Service. Wherever he goes and whatever he does, members of the Secret Service are there, keeping an eye on him. And, like all bureaucracies, you can be sure that the agents are required to document everything on their watch. That’s why it’s truly peculiar that, in response to a FOIA request from the New York Post to see documents identifying Joe Biden’s visitors during his regular stays in Delaware in 2021, the Secret Service is claiming that it has no records with that information.
The New York Post was curious about what goes on at Biden’s Wilmington and Rehoboth Beach residences in Delaware because he spent roughly 25% of his first year, not in the White House, but at those residences. For that reason, the Post asked for documents recording all visitors during more than a year of Biden’s time in office. And that’s when the Secret Service provided a bizarre response:
Secret Service Freedom of Information Act officer Kevin Tyrrell wrote in a response dated Monday that “[t]he Secret Service FOIA Office searched all Program Offices that were likely to contain potentially responsive records, and no records were located.”
From the Post’s point of view, this bizarre non-response, which is impossible to believe, is a way of hiding the fact that Biden is engaged in some sort of influence peddling, perhaps on matters connected to Hunter Biden’s conduct. After all, Hunter was frequently a conduit for this influence-peddling when his father was the Vice President:
First son Hunter Biden is under criminal investigation for possible tax fraud and unregistered foreign lobbying after routinely seeking business in countries where his father held sway as vice president. The younger Biden worked on some overseas projects with his uncle Jim Biden.
Documents and photos from a laptop that formerly belonged to Hunter Biden indicate that he introduced his dad to business associates from China, Mexico, Russia and Ukraine — including at the vice president’s residence in Washington.
The Post points out that Biden is known to have conducted official business from Delaware. For example, on October 24, he and Chuck Schumer tried to bully Sen. Manchin into voting for the “Build Back Better” bill. Manchin, wisely, pointed out that the bill would destroy the American economy and refused to give his vote.
Image: Biden’s Wilmington house. Twitter screen grab.
Biden has also spoken about having houseguests whose opinions have changed his views on matters of policy. Thus, in an effort to show empathy with Americans being destroyed by Biden’s inflationary policies, he recounted sitting in the kitchen at one of his Delaware homes, along with Jill, Jill’s sister, and friend.
According to Biden, this friend, whom he identified as Mary Ann (you were thinking it was Corn Pop, weren’t you?) was talking about the high price of hamburger meat. It’s not a believable story but whatever....
When pushed on the matter, press psecretary Jen Psaki psaid that people should be grateful that the White House releases visitor logs and should stop whining about not getting such information from the place in which Biden pspends so much of his time. Psaki can afford to say this because, writes the Post, “Presidents can pick and choose what they reveal through visitor logs thanks to a federal appeals court ruling written by now-Attorney General Merrick Garland in 2013.”
The president, said Garland in that opinion, has a constitutional right to confidential communications. However, given that Biden has said that this privilege doesn’t apply to Trump’s visitor logs, and is handing them over to the January 6 committee, it seems to me that Biden has stated a principle that applies to him as well. I hope someone makes that argument.
But back to what Biden is covering up because he’s clearly covering up something. As I noted, the Post seems to think he’s covering up financial malfeasance and that’s certainly a reasonable guess.
I have a different guess: I think that the secret visitors making their way to Biden’s Delaware homes are doctors who specialize in dementia. My theory is that they’re closely monitoring Biden’s mental status and are giving him a variety of drugs enabling him to get his act together for specific events, such as statements to the press, speeches, or official events.
The one thing I don’t believe is that the Secret Service doesn’t have any records at all. They’re making notes of everything but, clearly, are under strict orders to keep everything on the down-low and they are following those orders. Wouldn’t it be crazy if those fake DHS agents who were able to gain the confidence of some members of Jill Biden’s Secret Service detail know who was in Delaware and have passed the word on to Iran’s mullahs?
The Real Reset is Coming... But Not the One the Elites Expect
“The ‘Real Reset’ is Coming,” As Victor Davis Hanson writes on the upcoming midterm elections.
In truth, we are about to see a radical reset – of the current reset. It will be a different sort of transformation than the elites are expecting and one that they should greatly fear. . .
In the November 2022 midterms, we are likely to see a historic “No!” to the orthodox left-wing agenda that has resulted in unsustainable inflation, unaffordable energy, war, and humiliation abroad, spiraling crime, racial hostility — as well as arrogant defiance from those who deliberately enacted these disastrous policies.
The public has been marinated in false narratives and disinformation spread by the spread by our elite ruling class and echoed by the dominant media. For example, climate change (more), green energy and its consequences, and Putin inflation. Then there’s the COVID-19 origin and authoritarian mandates fostered by the spurious meme follow the science, the Russian collusion narrative, there was no election fraud in the 2020 Election, voter suppression, wokeism, and equity-speak. Don’t forget gender fluidity/grooming, the mask mandates by woke schoolboards supported by teachers' unions, cops shooting Black men, and Critical Race Theory, including the divisive memes of White Supremacy/domestic terrorism/systemic racism and many other crises de jour.
These false narratives can be very pervasive when embedded in many people's minds. For example, I was recently in SoCal. A Gen Z young man was discussing American government and politics with two older British men in the hotel lounge. As I left, I mentioned Hunter Biden’s laptop from hell and the election fraud in the 2020 Election. The discussion was civil, but the young man was wed to the progressive narrative that this was disinformation and wasn’t open to debate.
Our elite ruling class, the Marxists, the Globalists, Big Tech, the MSM, and the Deep State, used these crises to justify authoritarian government actions under public health and safety emergencies, and to interfere with the 2020 Election (compare with French elections) and destabilize our society, culture, and government. These actors will strike back as empowered by the elite, Big Tech, and the government to censor any who would dare question their orthodoxy -- violating the inalienable rights enshrined in the Constitution.
These actors have robbed the public treasury of billions of dollars in broad daylight. These actors seek and are driven by retaining and gaining more power and money. The government is too corrupt to prosecute these perps, i.e., good for thee but not for me. The FBI and the DOJ are hunting dogs that will not hunt unless directed by their handlers, e.g., targeting the “insurrectionists” of January 6th and the parents vs. the Loudoun County Schoolboard vs. the treatment of BLM and Antifa rioters and thugs. Our sheepdogs have gone rogue or discredited and replaced by the secret police - the Stasi ala Saul Alinsky et al.
At the local level, a brilliant move by George Soros was pouring money into the election of ulta- progressive woke district attorneys who will not prosecute and/or release dangerous felons into the community with no cash bail. Let the bad dudes out to run amuck and to strike fear in the people while at the same time pillorying the cops. People who are scared to venture out of their homes will often defer to authoritarian actions by local governments in exchange for law and order.
The result is a two-tier system of justice that violates the founding principle of our criminal justice system: equal justice for all, no one is above the law, and the rule of law and not men.
An criminal enterprise, if not a soft coup by these actors, has been ongoing at least since the Obama Administration:
. . . using an illegal usurpation of power, by treason, mutiny, bribery, frauds, and thefts of public funds, and cover-ups and obstruction of justice committed by a criminal enterprise . . .[Cite]
Joe Biden's policy reversals are detrimental to the strategic interests of the US. Why? There are reasons to suspect Biden is co-opted and or blackmailed by foreign and domestic enemies. These enemies are the Marxists, Globalists, the Communist Party of China (CCP), the Russian and Ukrainian Oligarchs, and the Iranians. Biden’s policy failures, the outright violations of the Constitution and federal laws, can't just be attributed to the utter stupidity of Biden and his administration but are intentional.
Biden failed to defend the US Southern Border and engaged with Iranian Mullahs to the detriment of our strategic interests and allies in the Middle East. He covered for China as the likely source of the Covid-19 virus. He disbanded the DOJ/FBI unit that roots out CCP espionage agents in academia. Finally, Biden went soft on Russia. He shut down our domestic oil and gas production, killed the Keystone pipeline, greenlighted Russia’s Nord Stream II pipeline, put the skids on Israel’s EastMed gas pipeline, and delayed Russian sanctions and arming Ukraine before the Russian invasion.
America had grown weary of the war in Afghanistan with its mission creep. It was time to leave. Biden and his administration did leave – an example of how not to do it. The disastrous withdrawal from Afghanistan, abandoning Bagram AFB and leaving it for the Chinese. All the while, Hunter Biden was raking in millions from the Chinese, Russian, and Ukrainian oligarchs for no credible purpose other than gaining access to Joe Biden.
The Biden Administration’s policy reversals backed the US into a shooting war between the Russians and Ukrainians, likely to escalate. So is Joe Biden now toast to “those that foisted him on us”?
Were these policy reversals the result of undue influence on Joe Biden by enemies of the US, both foreign and domestic?
We are at a tipping point with the coming midterms. The lies of the elite et al. are catching up with the common sense of the American people.
In the November 2022 midterms, we are likely to see a historic “No!” to the orthodox left-wing agenda that has resulted in unsustainable inflation, unaffordable energy, war, and humiliation abroad, spiraling crime, racial hostility — as well as arrogant defiance from those who deliberately enacted these disastrous policies.
The prophets of the new world order sowed the wind, and they will soon reap the whirlwind of an angry public worn out by elite incompetence, arrogance, and ignorance.
Photo credit: werther mx CC BY-SA 3.0 license
Ron Wright is a retired detective from the Riverside, CA Police Department. He holds a BA in political science CSUF, M. Adm. University of Cal, Riverside. Facebook at Ron T. Cop.
THE HOOK AND CROOK TROIKA OF CORRUPTION
The Regime Media’s Quandary: By Exposing Joe Biden They Exonerate Donald Trump
The regime media (the amalgamation of the legacy media, elitist opinion writers, and the internet troika: Google/Facebook/Twitter) finds itself in a quandary of its own making. As the nation descends into recession and societal turmoil, the candidate for whom they prostituted themselves, Joe Biden, reveals on a daily basis that he is not mentally or physically capable of being President. Further, it has become increasingly more difficult to continuously obfuscate not only the ongoing revelations in Hunter Biden’s laptop but Joe’s life-long history of corruption and mendacity.
By comparison, for four years, despite a lack of evidence coupled with numerous exculpatory investigations, this same cabal incessantly promoted the fictitious narrative that Donald Trump was a racist, a xenophobe, a demagogue, and the most corrupt person to ever serve as president of the United States.
Accordingly, the regime media proclaimed that was in the nation’s vital interest to replace Trump with the “decent, honest, and honorable” Joe Biden. As he has the “experience and character” to rescue the nation and restore “decency and honor” in the White House.
The quandary: how does the regime media avoid the exposure of Joe Biden’s lifelong corruption and failures without the public’s inevitable comparison of the two men, their families, and their accomplishments? A comparison that would result in the effective exoneration and rehabilitation of Donald Trump, whom they relentlessly accused of being the most unscrupulous person on earth. A cudgel they could no longer use if he decides to run for the presidency in 2024.
Their only option is to continue steadfastly limiting any exposure of Joe’s career-long penchant for selling his political office for personal gain. They will have to throw Hunter Biden under the bus by claiming he was solely responsible for any revelations of corruption emanating from his abandoned laptop. That a gradually diminishing but dedicated public servant, Joe Biden, was blissfully unaware of what was going on in his name. Meanwhile, they and the Democrats in Congress can never abandon their quixotic search for Trump wrongdoing or continue beating the drum that he is the personification of corruption.
Why do they need to obfuscate Joe Biden’s personal history? They cannot continue to muddle the revelations in Hunter Biden’s laptop if it is general knowledge that Joe Biden’s malfeasance and the “Biden Family Enterprise” began almost immediately after Joe Biden was first sworn in as a Senator in 1973 when Hunter was two years old.
In August of 2019, Politico International, in a lengthy article, traced the beginning of the “Biden Family Enterprise” back to 1973, Joe’s first year in the Senate. Freshman Senator Biden adamantly demanded and was appointed to a seat on the Senate Banking Committee. Soon thereafter, his brother James, then a 23-year-old business neophyte with a net worth of less than $10,000, decided to open a nightclub. Per a bank officer, James used the Biden family “connection” to obtain $165,000 ($1.1 million in 2022 dollars) in mostly unsecured loans from a failing Delaware bank. Within less than 18 months the venture started to unravel, and James was unable to make the loan payments. Joe intervened with the bank’s Chairman to make certain the bank did not harass James for payment or foreclose on the nightclub.
Miraculously, James was able to find another bank, which was on the Federal Reserve watch list, that gave him a $500,000 ($2.6 million in 2022 dollars) loan. Around the same time Joe Biden met with that bank’s senior vice-president on “other matters” -- no doubt a coincidence. The nightclub venture soon failed, leaving behind a trail of lawsuits and unpaid loans and debts.
The Bidens sanctimoniously proclaimed that Joe and his status as a U.S. Senator had nothing to do with James getting the loans. The fact that Joe served on the Senate Banking Committee (which oversees bank regulatory agencies) and his 23-year-old brother with no business experience received extraordinary – actually, unheard-of -- loans from two banks under scrutiny by the government was, no doubt, also a mere coincidence.
Thus began a pattern that over the years that continued to include James and occasionally other members of the Biden family, and eventually Hunter Biden as the ultimate front for the Biden family business. A family enterprise that despite chartering and acquiring numerous companies over the decades never operated a successful business. Perhaps no prominent family in American history has been involved in so many consistent business failures. The only successful aspect of the “Biden Family Enterprise” was selling Joe Biden and his political influence.
It was while Joe Biden was vice-president that the flood gates opened and what was a domestic influence-peddling business expanded globally into Ukraine, China, Russia and Kazakhstan, among other nations. The layers of greed and unabashed willingness to sell access to the second-highest office in the country is mind-boggling. The most egregious examples are five deals with the Communist Chinese and the subsequent payments to Hunter Biden and the Biden family valued at $31 million.
For the past five decades, the legacy media and virtually all of Washington, D.C. has known about Joe Biden’s corruption and penchant for being a serial fabulist and compulsive liar. However, when Donald Trump was elected President, he was immediately inundated with false and hyperbolic corruption charges.
A month before his inauguration on January 20, 2017, Politico Magazine featured an article full of absurd innuendos and breathtaking assumptions entitled: “Trump Could be the Most Corruptible President Ever.” Within ten months after his inauguration it was unabashedly proclaimed to the nation that the Trump Administration was already the most corrupt in American history.
Unsurprisingly, by the end of his term the regime media and left-wing “historians” declared that Donald Trump was not only the most corrupt president in American history but also the worst.
The New York Times, in a hyperbolic October 2020 editorial, pleaded with the public to vote for Joe Biden “and return the country to a more peaceful, stable and respectful form of self-governance” and accused Trump of “rampant corruption, celebrations of violence, gross negligence with people’s health and incompetence—the worst American president in modern history.”
It would not be an overstatement to say that Donald Trump and his immediate family are the most investigated, vetted and audited people in American history. Yet virtually nothing substantive has been found. I spent nearly forty years in international finance and interacted with numerous domestic and international real estate developers. Success in this field requires a single-minded focus and determination in order to build or acquire properties. Virtually all developers at some point have skirted the law, or greased palms, or by-passed regulations.
In light of Trump’s massive business success and nearly 50 years in real estate development, it is remarkable, considering the armies of investigators and auditors with unlimited budgets, that nothing of consequence has been unearthed. Which confirms that Donald Trump is among the least corrupt men to serve as President of the United States. In other words, Donald Trump is the antithesis of Joe Biden.
That is why the regime media, and the Democrat Party will do everything possible to avoid the full exposure of the decades of corruption with
in the “Biden Family Enterprise.” They cannot run the risk of the inevitable comparison of Donald Trump and his family to Joe Biden and his family.
Nor can the regime media risk the unmasking of their primary role in not only falsely incriminating Donald Trump but duplicitously praising and overtly suppressing damning information about Joe Biden during an election. As the citizenry will rightfully conclude that they are chiefly responsible for the disastrous state of affairs in the country today.Photo credit: Michael Vadon CC BY-SA 4.0 license
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