Hunter Biden’s indictment in California for tax-related charges has drawn attention to President Biden’s repeated calls for the wealthy to pay their “fair share” of taxes.
The indictment alleges that Hunter evaded $1.4 million in federal taxes while leading a lavish lifestyle.
This situation has put the president’s stance on tax fairness in an awkward position. (Trending: Elon Musk Condemns Arrest Of Jan 6 Protester)
Corporations need to pay their fair share in taxes.
I’ll reverse Trump’s giveaway to the super-wealthy and corporations because it’s time we reward work, not just wealth. https://t.co/ylZnO877mv
— Joe Biden (@JoeBiden) November 18, 2019
Special Counsel David Weiss reports that Hunter Biden, “engaged in a four-year scheme to not pay at least $1.4 million in self-assessed federal taxes he owed for tax years 2016 through 2019, from in or about January 2017 through in or about October 15, 2020, and to evade the assessment of taxes for tax year 2018 when he filed false returns in or about February 2020,” which was during Joe Biden’s presidential campaign.
Weiss alleges that, in “furtherance of that scheme,” Hunter “subverted the payroll and tax withholding process of his own company, Owasco, PC by withdrawing millions” from the company “outside of the payroll and tax withholding process that it was designed to perform.”
Hunter allegedly “spent millions of dollars on an extravagant lifestyle rather than paying his tax bills,” and that in 2018, he “stopped paying his outstanding and overdue taxes for tax year 2015.”
As president, I’ll make sure giant corporations and the super-wealthy pay their fair share in taxes — and then invest that money in growing a stronger, more inclusive middle class. https://t.co/DN8qxaLCXD
— Joe Biden (@JoeBiden) December 5, 2019
“Corporations need to pay their fair share in taxes,” posted Joe Biden in 2019.
“I’ll reverse Trump’s giveaway to the super-wealthy and corporations because it’s time we reward work, not just wealth,” promised Joe Biden, the candidate.
“As president, I’ll make sure giant corporations and the super-wealthy pay their fair share in taxes — and then invest that money in growing a stronger, more inclusive middle class,” he wrote in another post.
Despite Biden’s consistent calls for the rich to pay their fair share, his son’s alleged tax evasion has raised questions about the administration’s commitment to addressing tax avoidance.
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