How the Bidens Dodged the Payroll Tax
Biden says cutting payroll taxes on working people is an attack on Social Security. But because Biden is rich he was able to avoid paying payroll taxes by using a common tax dodge of the rich.
(From The Wall Street Journal)
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. They did so by classifying the income as S-corporation profits rather than taxable wages.
This article was originally posted here: https://www.ac2news.com/2020/08/how-the-bidens-dodged-the-payroll-tax/.