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Posts Tagged ‘Joe Biden’

I wrote last month about a group of leftist millionaires who said they should pay more in taxes.

My response was to ask why they aren’t taking advantage of the existing process that allows them to send extra money to the federal government? There’s even a special website that facilitates payments from people who want to voluntarily pay more tax.

Yet, in a glaring example of hypocrisy, these rich statists won’t “put their money where their mouths are.”

Now we have a new example of a rich leftist who says one thing and does another.

And he happens to be a former Vice President of the United States. Tax Notes reports that Joe Biden, who says he wants higher taxes if he wins the 2020 presidential election, has been very aggressive about minimizing the amount of his money that is taken by the IRS.

Former Vice President Joe Biden’s tax returns show he took advantage of a planning strategy that the Obama administration tried to shut down. The planning technique involves the use of an S corporation to allow only a small portion of an individual’s earnings to be subject to self-employment tax. On the portion that isn’t on the hook for self-employment taxes, in some cases it can also escape the 3.8 percent net investment income tax for high-income earners enacted into law during the Obama administration. “It’s truly astounding to me that Biden would take such an aggressive position while contemplating a run for president,” Steven Rosenthal of the Urban-Brookings Tax Policy Center said. “I don’t get it,” he added. …Biden, who is now a Democratic presidential candidate for 2020, released federal and state tax information on June 9 showing he and his wife, Jill, earned millions from speaking and writing engagements since leaving office.

Interesting, there are some Democrats who have chosen not to take advantage of this strategy.

…before becoming president, Barack Obama earned income as an author but listed it on Schedule C, subjecting it to self-employment tax. Sen. Elizabeth Warren, D-Mass., similarly earned income as author and listed the amounts on Schedule C.

What makes Biden’s hypocrisy so remarkable is that the Obama-Biden Administration proposed to make this type of avoidanceillegal.

In its proposed fiscal 2017 budget, the Obama administration would’ve expanded the 3.8 investment to passthrough income so it wouldn’t escape the 3.8 percent tax based on a technicality. The provision, included in a section entitled “loophole closers,” would have raised $271.7 billion over 10 years, according to the Treasury Department’s analysis of the proposal.

So Biden wanted to take away the right of other people to protect their money, yet he is perfectly happy to copy their tax-minimization tactics.

By the way, I should say, quite emphatically, that Biden made the right choice for his family.

Voluntarily giving more money to Washington would be wasteful and reckless. I’m not going to claim that politicians in D.C. are the worst people in the country. But I will assert that they’re the ones with the worst incentive to use money wisely.

In any event, there’s definitely something distasteful about a rich leftist politician behaving like a “greedy capitalist” in his private life. Especially since this politician in the past has asserted that it’s patriotic to pay more tax!

Does this make him a fiscal draft dodger? Is there smoke coming out of the Hypocrisy Meter?

And if so, does that mean John Kerry also is unpatriotic? And what about Bill and Hillary Clinton?

Though Governor Pritzker of Illinois may be the most aggressive example of taxes-for-thee-but-not-for-me.

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Good ol’ Uncle Joe.

Given his chief role as national laughingstock, the Vice President attracts plenty of abuse. I like this caption contest, which led to a clever winning entry.

Handgun bad, shotgun good?

Here’s an amusing joke (with the naughty word redacted), and the late-night talk shows have produced some good one liners about the Veep hereherehere, and here.

And let’s not forget the laughs we all enjoyed when he asserted that paying higher taxes was patriotic.

But Biden has reached new levels on unintentional humor with his recent advice on home defense, all of which appears to be illegal according to fellow Bulldog Mary Katherine Ham.

This video, which has been a viral phenomenon, looks at the practical implications of arming some people with 12-gauge shotguns.

This is amusing, though it’s actually not that funny when you realize that this clown is in charge of the task force putting together gun control proposals for the Obama Administration.

By the way, if you like humorous videos dealing with gun control, here are my favorites.

P.S. And if you want serious videos about gun control, you can access several options by clicking here.

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I talked a couple of days ago to Neil Cavuto about whether the Obama Administration is slightly modifying its class-warfare tax policy.

As you can see, I’m not overly fixated on the parsing of Biden’s comments since I’m against higher tax rates for anyone.

And my takeaway message from the segment is that we need some discussion on the need to reduce the burden of government spending.

But the purpose of this post isn’t to share my appearance on the Fox Business Network. While I like to think that I offer coherent analysis and occasionally can be persuasive, I’m the first to admit that this second video is far more compelling. It features an old guy who escaped from Hungary after World War II and is now worried about creeping statism in the United States.

He does have a political message at the end, but ignore those final few seconds (after all, GOPers can be just as bad as Democrats).

I especially like his point about how class-warfare policy hurts the poor. Very similar to what Margaret Thatcher says in this powerful video.

Please share this post so more people are exposed to his message.

P.S. Since everyone is making fun of Biden, I may as well hop on the bandwagon. Here’s a joke about our feckless Vice President, and you can see a photoshop contest about “Lunchbucket Joe” by clicking here and here.

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I rarely comment on Vice President Biden because he is not a serious person in the world of policy. The only attention he gets on this blog is jabs from the late-night talk show hosts, and I also posted the Joe Biden caption contest and this Joe Biden joke.

Perhaps I would have given Biden some attention if I had started this blog in 2008 instead of 2009, because the then-Delaware Senator made a very silly statement during that year’s campaign.

Joe Biden said Thursday that paying more in taxes is the patriotic thing to do for wealthier Americans. …Biden said: “It’s time to be patriotic … time to jump in, time to be part of the deal, time to help get America out of the rut.”

I’m not sure how America’s Founding Fathers would have reacted to that statement, but I suspect that Washington, Jefferson, Franklin, Mason, and Paine would have had a different perspective.

But I’m not surprised that the Socialist candidate for President in France has the same mentality (and I’m referring to the official candidate of the Socialist Party, not the socialist currently running the country). Here’s a blurb from the BBC.

The Socialist favourite in France’s presidential election, Francois Hollande, has said top earners should pay 75% of their income in tax. …Mr Hollande himself renewed his call on Tuesday, saying the 75% rate on people earning more than one million euros a year was “a patriotic act”. …”It is patriotic to agree to pay a supplementary tax to get the country back on its feet.”

Isn’t this wonderful that politicians of different nationalities and from different continents can be united in the idea that it is “patriotic” to give the world’s least competent people more money?

Maybe Biden and Hollande can also take a trip to Greece together so they can learn how to use the additional money to subsidize pedophiles and collect stool samples as a condition of getting a business license to set up an online company.

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Even though he’s widely seen as a clown and a buffoon, I’ve only had one Joe Biden joke on this blog (a two-parter you can find here and here).

Though I hasten to add that Biden has been mentioned in a few of the joke collections from the late-night comics (here, here, here, and here) and played a supporting role in this joke.

But he deserves some more love and attention, so here’s something that arrived in my inbox yesterday.

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I bought a new Ford F250 Tri-Flex Fuel Truck. Go figure. It runs on either hydrogen, gasoline, or E85.

I returned to the dealer yesterday because I couldn’t get the radio to work.

The service technician explained that the radio was “voice activated.”

“Nelson,” the technician said to the  radio.

The radio replied, “Ricky or Willie?”

“Willie!” he said, and “On The Road Again” came from the speakers.

Then he said, “Ray Charles!,” and in an instant “Georgia On My Mind” replaced Willie Nelson.

I drove away happy, and for the next few days, every time I’d say, “Beethoven,” I’d get beautiful classical music, and if I said, “Beatles,” I’d get one of their awesome songs.

Yesterday, some guy ran a red light and nearly creamed my new truck, but I swerved in time to avoid him.

I yelled, “F-ing Idiot!” Immediately the radio responded with a Joe Biden speech.

“Isn’t technology amazing,” I thought to myself.

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I have no idea if this is a faked photo, but let’s have some fun with it. Whoever comes up with the funniest/most clever caption wins a very valuable prize.*

*Okay, there’s no real prize, but you’ll at least have the satisfaction of being…um…funny and clever.

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