Editor’s Note: This article was updated to include quotes from the New York Times report about President Trump’s tax payments in 2016 and 2017.
President Donald Trump’s tax returns have liberals whining, but they are silent on Joe Biden dodging hundreds of thousands in payroll taxes.
The New York Times came out with a total nothingburger story on Monday, with multiple media outlets reporting that the President had only “paid $750” in federal income taxes in 2016 and 2017.
Suggesting Trump only “paid $750” in taxes those years is disproven by the New York Times themselves in their story as as they wrote the President still paid millions in taxes.
Each time, he requested an extension to file his 1040; and each time, he made the required payment to the I.R.S. for income taxes he might owe — $1 million for 2016 and $4.2 million for 2017.
So, in fact, Trump paid $5.2 million to the IRS between 2016 and 2017.
While the NYT notes business investment credits brought his actual tax liability down to $750 for those years, they appear to say that Trump has even given the federal government a loan, writing that “most” of the $5.2 million was rolled forward to cover potential taxes in the future:
But virtually all of that liability was washed away when he eventually filed, and most of the payments were rolled forward to cover potential taxes in future years.
But it was still picked up upon by liberals all over Twitter, who assumed the President was defrauding the American people.
The President stood firm against these claims, defending his tax returns, and slamming the “fake news media,” for bringing up “all sorts of other nonsense with illegally obtained information and only bad intent.”
“I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation and tax credits,” the President tweeted.
He also noted that the report shows he gave up his “yearly $400,000 plus presidential salary!”
While this has taken up the attention of liberals across the country, they are very quiet on the issue of their presidential candidate.
According to the Wall Street Journal, Joe Biden used a series of tax loopholes to avoid paying hundreds of thousands of dollars in payroll taxes.
Chris Jacobs of the Wall Street Journal detailed in August that the Bidens set up what is known as an “S-Corporation” to skirt around paying more than half a million dollars in payroll taxes.
“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,” Jacobs wrote.
“They did so by classifying the income as S-corporation profits rather than taxable wages.”
“How can Mr. Biden claim to protect Medicare and ObamaCare when he avoided more than $500,000 in taxes that fund the two programs?” Jacobs continued.
Where is this outrage from the liberals directed at Biden?
It doesn’t exist, of course, because they simply do not care about tax avoidance, until it is apparently committed by someone they really don’t like – President Trump.
It’s never been about the truth, or doing what’s right, but instead about reporting whatever they can to win power.
Surely it’s even worse that Joe Biden, who would raise taxes, skirted around paying them, than President Trump, who wants to lower the tax burden, using deductibles?
Of course it is, but they don’t see that.
All they see is orange man bad. That’s all their brains can handle.
We need to return to a far more objective system of reporting in this country, but with the state of the media today, I highly doubt we will see that for a long while to come.
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