How much tax has Biden paid? Internet donates to Joe's fundraiser to fire Trump after tax evasion report
The fundraiser started after the findings of a New York Times report that alleged Trump is under financial stress
Tax fraud has become a pivotal issue ahead of presidential elections. President Donald Trump found himself in hot water over a New York Times report that obtained his tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due, meanwhile his rival presidential candidate Joe Biden is being hailed by many as the one who has always paid taxes. As a result, a fundraiser has come into force created by DemCast, an activist organization striving for democracy that is hoping to raise money for Biden to vote out Trump on the basis of tax fraud.
Executive Director of DemCast USA tweeted on September 27, “I pay my taxes. You pay your taxes. JoePaysHisTaxes. Donald doesn't pay his taxes. RT and let's get Joe Pays His Taxes trending. Donate below to directly support the Joe Biden and Kamala Harris campaign!”
I pay my taxes. You pay your taxes. #JoePaysHisTaxes.— Nick Knudsen 🇺🇸 (@DemWrite) September 27, 2020
Donald doesn't pay his taxes.
RT and let's get #JoePaysHisTaxes trending. Donate below to directly support the Joe Biden / Kamala Harris campaign!#TrumpTaxReturns #BidenHarrisLandslide2020 #DemCasthttps://t.co/ioEXVqY76x
The website of the fundraiser stated its stand on the findings of the NYT report that revealed Trump’s tax avoidance, “As the NY Times has reported, Donald somehow weaseled his way out of paying his taxes for years. Nobody's surprised. He also doesn't appear to be a very effective businessman, which helps explain why the American economy is in the tank.” It further added that “100% of donations” on its page will go to Joe Biden.
As per the NYT report “Donald Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.”The report said that POTUS did not pay income taxes. “He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.”
The report’s findings on Trump’s financial status state, “Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.” After the NYT report blasted Trump and the fundraiser of DemCast came in support of Biden, it is worth pondering how much Biden’s net worth is.
Joe Biden’s net worth
A Forbes report mentions that when Biden ended his term as vice president in January 2017, he filed a financial disclosure form. It listed his assets and liabilities worth somewhere between negative $897,000 and positive $489,000. However, the report also mentions that over the next 23 months, following 2017, the Bidens(Joe Biden's family) earned more than $15 million, as per tax filings. As per Forbes, Biden, 76, and his wife Jill’s net worth was worth $9 million in 2019. CNBC reported that the Bidens paid about $3.7 million and $1.5 in taxes for 2017 and 2018, respectively. They gave roughly $1 million and $275,000 to charity in 2017 and 2018, respectively, the site reported.
Before Biden became vice president, he served as a Senator from 1973 to 2009. Over the course of his tenure, his salary increased from $42,500 per year to $174,000 per year, according to the Senate's historical records. When he was elected VP, he got another raise, earning roughly $230,000 a year. Following leaving the office as VP, his position as former president Barak Obama's no 2 helped greatly to get him speaking engagements and book deals and when Biden released his financial disclosures in July of 2019, they showed that he and his wife Jill had earned more than $15 million in 2017 and 2018, reports Town and Country magazine.The AP reports that Biden's basic speaking fee was $100,000, but it ranged from $40,000 to $190,000.
Not to mention, the Bidens have invested in real estate as well. As per Forbes, the Bidens' two homes in Delaware are worth a combined $4 million. The site also notes that they have "cash and investments worth another $4 million or so" as well as a $1 million federal pension.
After the conversation started on the issue of tax fraud and avoidance, people started to vouch for Biden and slammed Trump. A user wrote on Trump’s wealth, “He’s not a billionaire. He’s not a millionaire. He’s a broke b***h who played a rich guy on TV. Biden paid his taxes every single year. His tax returns are public record.” Another mocked First Lady Melania Trump, “Live footage of Melania tonight !”
He’s not a billionaire. He’s not a millionaire. He’s a broke bitch who played a rich guy on TV. Biden paid his taxes every single year. His tax returns are public record. #TrumpTaxes— Chanandler Bong ©️ (@_ChanandlerB_) September 28, 2020
Some urged that Biden talks about the tax issue in the presidential debate, “Joe Biden please ask about this Tax Fraud at your next debate with Trump! We need to know what his response will be. At news briefings, he can run away but at the debate, he can’t! Make him answer you!” Another concurred, “Y'all, the absolute *gift* the NYT just handed Biden two days before the debate though.” Many came in support of Biden, “Joe fights AGAINST corruption, Trump fights FOR it, then pockets everything his grubby little fingers can snag.”
@JoeBiden please ask about this Tax Fraud at your next debate w/ #Trump! We need to know what his response will be. At news briefings, he can run away but at the debate, he CAN’t! Make him answer you! #TrumpMeltdown #TrumpTaxes #TrumpIsBroke #IRS #TaxFraudTrump #Trump #750dollars— AIU (@TrentU23947054) September 28, 2020
Some had a view that cases of fraud or corruption must be filed against all who are found guilty, even if it's Biden’s son Hunter Biden. Previously, Republican senators released a report alleging Biden's “lucrative” work at a Ukrainian energy firm while his father was vice-president. “Here’s the deal — if there’s a case against Hunter Biden pursue it but don’t let that distract from the case against Trump. Focus.”