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Everyone might be well advised, even to this day, to heed the advice of Watergate informant Deep Throat. Joe Biden and the Biden campaign have not refuted the revelations from son Hunter’s laptop as reported by the New York Post, or any of the allegations made by Peter Schweizer on a separate track in released emails to him from a former business partner (now serving time in prison) of Hunter and Devon Archer. Therefore, Americans can assume that the former VP’s sudden boom in wealth and profligate real estate spending may indeed be from sources other than his salary or his book deal — specifically from Ukrainian oligarchs, Chinese oligarchs and/or the Chinese Communist Party, and others.

Back on September 11, 2019 (that date … hmm…), Ryan Grim of The Intercept described how Joe and Jill Biden managed to hide the source of their newfound wealth by using Delaware’s non-disclosure provision for S-corporations (emphasis mine):

Biden may be looking to hammer her (Elizabeth Warren) for hypocrisy, but his charge of a lack of transparency is badly undercut by his own financial opacity — not decades ago, but in the last two years. Since leaving the White House, Biden, long proud of his wealth ranking near the bottom of the U.S. Senate, began delivering high-dollar speeches to well-heeled clients and raked in book revenue that elevated him well into the upper class. He earned some $15.6 million in the last two years alone, according to financial disclosures released by his campaign. 

It is typical for presidential candidates to voluntarily release their tax returns, with the exception of Donald Trump. Despite those releases, the details of how Biden, whose career has been partially dedicated to enabling financial secrecy in Delaware, made a significant portion of that money remains a mystery.

The Bidens have used their home state’s financial privacy laws to shield his income from public view, by setting up two tax- and transparency-avoidance vehicles known as S corporations. He and his wife Jill Biden called them CelticCapri Corp. and Giacoppa Corp., respectively, and, according to the Wall Street Journal, have reported more than $13 million in profits the previous two years that weren’t subject to specific disclosure or self-employment taxes. As CNBC has described, money Biden made from book deals and speeches flowed into the S corporations and was then remitted to Biden and his wife as “distributions” rather than salary. When money is funneled through an S corporation, the recipient doesn’t owe Social Security or Medicare taxes on it, nor can the source of revenue be traced. (In addition to the distributions, the Bidens drew relatively small salaries from the S Corporations: under half a million dollars, for which they owed self-employment taxes.)

One would hope that the Director of National Intelligence, Radcliffe, or the Department of Justice and the FBI, if they truly wanted to see if the Bidens have been pocketing any income from foreign sources would at least start with CelticCapri Corp. and Giacoppa Corp. and perhaps also see if any funds were wired to any off-shore accounts that the Bidens may have or that are being held for them by other known business associates.

Oh, for those of you Orange Man Bad folks still incensed that Trump only paid $750 in taxes – you, like Rick in Casablanca have been misinformed. Yes, the New York Times, Joe Biden, Kamala Harris and other screeching Democrats in general, got it wrong. As Newsmax and other outlets are now reporting:

Contrary to the false impression in The New York Times story, Donald Trump did not avoid taxes.

He pre-paid them.

In 2016 and 2017, he requested and got an extension to file his returns.

As required, he made an estimated tax payment of $1 million in 2016 and $4.2 million in 2017. Then, it turned out that he did not owe that much in taxes, but, rather than demand the money back, he let the IRS keep it and apply it to any future tax he owed.

So — when he only paid $750 in taxes for the first two years of his presidency it was because he had already overpaid during the two previous years and just reduced his payment by that amount.

Over the longer term, Trump overpaid his taxes by $72 million.

Oh, and just one other thing … anticipate that bump-on-the-log FBI Director Christopher Wray will be fired most likely on or just after Election Day no matter who wins the election. Just my humble prediction. So much evidence ignored … so little follow-up.

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  1. Bob Wainwright Member

    So the $750 wasn’t in the TOTAL TAX line of his 1040 but the AMOUNT OWED WITH FILING line? What was in the total tax line? If this is true why didn’t Trump point that out himself? The AMOUNT OWED W FILING amount is meaningless.

    • #1
    • October 19, 2020, at 1:18 PM PDT
    • 3 likes
  2. Brian Watt Member
    Brian WattJoined in the first year of Ricochet Ricochet Charter Member

    Bob Wainwright (View Comment):

    So the $750 wasn’t in the TOTAL TAX line of his 1040 but the AMOUNT OWED WITH FILING line? What was in the total tax line? If this is true why didn’t Trump point that out himself? The AMOUNT OWED W FILING amount is meaningless.

    Well, since I don’t have the president’s actual tax forms in front of me…and it’s unclear whether the New York Times actually had the actual forms either, I can only refer you to other articles that explain some of the ways in which Trump was legally obliged to avail himself of in order to limit his tax liability. For example, this. An excerpt from the article:

    What confused the Times is Trump did not pay the liability with a check. He used a credit issued to him earlier by the government, a credit that can only be used to pay taxes.

    That’s a lot less rare than it seems. In fact, it’s how most people pay their taxes.

    For most people, tax bills get paid with credits they have already accumulated with the government through mandatory deductions from their paychecks. When they overpay their taxes through withholding, they can apply for a refund for the overpayment. That can be a bank deposit from the government or it can be rolled forward as a credit to apply to future taxes.

    The main take away here is that tax bills are typically not paid with cash at the time of filing. They are paid with credits earned because the money was withheld earlier.

    But over-withholding is not the only way to earn tax credits. In fact, there are a myriad of ways that people can earn tax credits issued by the federal government that can be used to pay tax bills. The government considers these expenditures because as far as government finances are concerned, a tax credit is the same as cash. It is something that can be used to pay taxes.

    These are assets — and practically cash equivalents. Often they can be bought and sold, with various restrictions. When a company has tax credits on its balance sheet, these are considered part of its value. They are not quite valued the same as cash in a bank account but nearly so.

    It turns out that Trump has a big tax credit issued to him by the U.S. government with the intention that it would someday be used to pay his taxes.

    In other words, Trump paid the full amount of his taxes but spent $7,435,107 of his tax credit and $750 of cash. Both cash and the credit are government liabilities that the U.S. government accepts as payment for taxes. Paying the credit is not the equivalent of not paying taxes.

    More simply: Trump used a government-created tax asset to pay his taxes. The payment reduced his worth by the equivalent of the credit.

    • #2
    • October 19, 2020, at 1:34 PM PDT
    • 7 likes
  3. James Gawron Thatcher
    James GawronJoined in the first year of Ricochet Ricochet Charter Member

    Brian,

    The Democrats are master propagandists. They couldn’t govern a lemonade stand properly but when it comes to propaganda lookout. The whole Trump/Russia nonsense followed by the Ukrainian/Phone Call nonsense was a disinformation campaign to cover-up the dirty dealings of Democrats. The Dems are lousy with foreign money. The Bidens were getting big cash from China & Ukraine. I put a video up the other day from January of this year. Pam Bondi went over the Biden-Burisma scandal in detail in front of Congress. There was enough hard evidence there for an immediate indictment but they had an airtight alibi. “I’m a powerful Democrat so nobody can touch me.”

    It would take a prosecutorial miracle to get Justice.

    Regards,

    Jim

    • #3
    • October 19, 2020, at 1:38 PM PDT
    • 10 likes
  4. Brian Watt Member
    Brian WattJoined in the first year of Ricochet Ricochet Charter Member

    Also this. (or in Monty Python-speak…Also wik)

    • #4
    • October 19, 2020, at 1:39 PM PDT
    • 10 likes
  5. Brian Watt Member
    Brian WattJoined in the first year of Ricochet Ricochet Charter Member

    Bob Wainwright (View Comment):

    So the $750 wasn’t in the TOTAL TAX line of his 1040 but the AMOUNT OWED WITH FILING line? What was in the total tax line? If this is true why didn’t Trump point that out himself? The AMOUNT OWED W FILING amount is meaningless.

    BTW – How’s your outrage about Joe Biden and his apparent graft coming along?

    • #5
    • October 19, 2020, at 1:40 PM PDT
    • 5 likes
  6. kedavis Member

    We smart people can understand things like this. In fact they’re almost painfully simple. But I suspect that if I asked some of my former neighbors about this, they wouldn’t get it. And I’m sure my benighted mother wouldn’t even understand the question.

    Too many people don’t think that payroll withholding is “paying their taxes.” Which could be one reason why government keeps doing it.

    If they did, they wouldn’t continue to perceive a tax refund as “free money” etc.

    If you said to them, okay, $100 (or whatever) is withheld from your pay every week. At the end of the year, that’s $5,200. When you file your taxes, it comes out that you owe $500. So you send in a check for $500. How much taxes did you pay?

    I wouldn’t be surprised if all of them said, $500.

     

    • #6
    • October 19, 2020, at 1:47 PM PDT
    • 10 likes
  7. James Gawron Thatcher
    James GawronJoined in the first year of Ricochet Ricochet Charter Member

    kedavis (View Comment):

    We smart people can understand things like this. In fact they’re almost painfully simple. But I suspect that if I asked some of my former neighbors about this, they wouldn’t get it. And I’m sure my benighted mother wouldn’t even understand the question.

    Too many people don’t think that payroll withholding is “paying their taxes.” Which could be one reason why government keeps doing it.

    If they did, they wouldn’t continue to perceive a tax refund as “free money” etc.

    If you said to them, okay, $100 (or whatever) is withheld from your pay every week. At the end of the year, that’s $5,200. When you file your taxes, it comes out that you owe $500. So you send in a check for $500. How much taxes did you pay?

    I wouldn’t be surprised if all of them said, $500.

     

    ke,

    I think you may have too low of an opinion of your mother. I want you to ask her that question the next time you talk to her. I wouldn’t be surprised if she knew exactly what is going on.

    And don’t forget to send her flowers and a nice card.

    Regards,

    Jim

     

    • #7
    • October 19, 2020, at 1:59 PM PDT
    • 7 likes
  8. Scott Wilmot Member

    Great reporting Brian. This is the kind of reporting that needs to get out to the public.

    • #8
    • October 19, 2020, at 2:23 PM PDT
    • 6 likes
  9. EDISONPARKS Member
    EDISONPARKSJoined in the first year of Ricochet Ricochet Charter Member

    The NYT write their Trump stories with the sole intent to damage Trump.

    What would be so difficult to simply report what Trump’s tax liability was in 2016 and 2017.

    To even provide the $750 amount paid at the filing is meaningless information, which suggests the NYT by providing the reader this meaningless data, intended to deceive.

    The only other possible explanation as to why the NYT would highlight the $750 paid at filing is that the reporters are blithering idiots who have no business attempting to explicate fairly complex Federal income tax information to a readership which have barely enough basic economic literacy to even follow the story if it were explained accurately.

    • #9
    • October 19, 2020, at 2:48 PM PDT
    • 7 likes
  10. JoelB Member

    What strikes me, aside from the stupidity over Trump’s taxes, is that Biden, who some believe to be in severe mental decline, was cagey enough to manipulate an influence peddling scheme to the tune of millions of dollars, complete with tax law cover-ups. I wonder who is really running the operation. If Biden wins, this same entity will probably be running the Executive Branch.

    • #10
    • October 19, 2020, at 3:11 PM PDT
    • 6 likes
    • This comment has been edited.
  11. Fritz Coolidge

    EDISONPARKS (View Comment):

    “The only other possible explanation as to why the NYT would highlight the $750 paid at filing is that the reporters are blithering idiots who have no business attempting to explicate fairly complex Federal income tax information to a readership which have barely enough basic economic literacy to even follow the story if it were explained accurately.”

    Yup. Those ignorant 20-something “journalists”, whom even the odious Ben Rhodes ridiculed, have only ever been someone else’s employees, and therefore have no idea of how businesses and their owners are taxed. Of course, it is probably impossible for the NYT to find a CPA or tax attorney in NYC to explain it to them (at best on background, of course, because who’d want to be doxxed and ostracized for “normalizing” Trump’s taxes?????).

    • #11
    • October 19, 2020, at 3:19 PM PDT
    • 5 likes
    • This comment has been edited.
  12. Brian Watt Member
    Brian WattJoined in the first year of Ricochet Ricochet Charter Member

    JoelB (View Comment):

    What strikes me, aside from the stupidity over Trump’s taxes is that Biden, who some believe to be in severe mental decline, was cagey enough to manipulate an influence peddling scheme to the tune of millions of dollars, complete with tax law cover-ups. I wonder who is really running the operation. If Biden wins, this same entity will probably be running the Executive Branch.

    I think it reasonable to assume that Joe’s cognitive decline has become much more evident in the past 12 to 16 months and that he was fully aware of his son’s activities – financial and drug/sex/criminal for many years. And also aware of his brother’s dubious/fraudulent business as a real estate developer without any discernible experience. I think for the better part of at least 2 or more decades Joe was able to agree to the certain ill-gotten income to be received and improperly hidden from any legal or tax entities who would have at least raised an eyebrow had these entities known.

    • #12
    • October 19, 2020, at 3:20 PM PDT
    • 4 likes
  13. Percival Thatcher
    PercivalJoined in the first year of Ricochet Ricochet Charter Member

    Back in college, I tutored a girl I was dating in mathematics. Sweet girl; earnest, industrious, conscientious, well-read, and dumber than a bag of hammers when it came to math.

    I think of her every time a news report contains numeric data.

    • #13
    • October 19, 2020, at 3:36 PM PDT
    • 6 likes
  14. Brian Watt Member
    Brian WattJoined in the first year of Ricochet Ricochet Charter Member

    Speaking of Hunter’s laptop (which I referred to in the OP)…the computer shop has produced the original receipt for it with Hunter’s signature showing he did drop off his MacBook Pro to the shop. A photo of the receipt in the link above.

    Repair Shop Receipt for Hunter Biden Laptop Revealed, Media Narrative Burns to the Ground

    One other point on this, I noticed a Democrat talking head the other day (I think on Martha McCallum’s FoxNews show) passing himself off as a computer expert saying that it would have been impossible to access Hunter’s hard drive and its contents because Apple has such iron-clad security protocols. Uh…no.

    As the current and past owner of several MacBook Pros, a couple that I’ve sent in for repairs, I can say with a high-degree of authority that most computer shops will ask for your Mac’s access code – especially if their is an OS or software glitch on an application that needs troubleshooting – even if you have a cracked screen or the Mac has been dropped and they need to see if the Mac is booting up properly. Once a repair shop has the user’s computer access code, they have ready access to the contents of hard drives UNLESS the user has taken extra measures to lock the hard drive, which most users do not do – because it can be bothersome constantly having to give permission to oneself to move files out of the hard drive onto the desktop or to another drive or to the Cloud…which is why a number of sex offenders have been arrested when repair shops have come across child porn. 

     

    • #14
    • October 19, 2020, at 3:38 PM PDT
    • 8 likes
  15. EDISONPARKS Member
    EDISONPARKSJoined in the first year of Ricochet Ricochet Charter Member

    Brian Watt (View Comment):

    Speaking of Hunter’s laptop (which I referred to in the OP)…the computer shop has produced the original receipt for it with Hunter’s signature showing he did drop off his MacBook Pro to the shop. A photo of the receipt in the link above.

    Repair Shop Receipt for Hunter Biden Laptop Revealed, Media Narrative Burns to the Ground

    One other point on this, I noticed a Democrat talking head the other day (I think on Martha McCallum’s FoxNews show) passing himself off as a computer expert saying that it would have been impossible to access Hunter’s hard drive and its contents because Apple has such iron-clad security protocols. Uh…no.

    As the current and past owner of several MacBook Pros, a couple that I’ve sent in for repairs, I can say with a high-degree of authority that most computer shops will ask for your Mac’s access code – especially if their is an OS or software glitch on an application that needs troubleshooting – even if you have a cracked screen or the Mac has been dropped and they need to see if the Mac is booting up properly. Once a repair shop has the user’s computer access code, they have ready access to the contents of hard drives UNLESS the user has taken extra measures to lock the hard drive, which most users do not do – because it can be bothersome constantly having to give permission to oneself to move files out of the hard drive onto the desktop or to another drive or to the Cloud…which is why a number of sex offenders have been arrested when repair shops have come across child porn.

     

    The entire point of bringing a inoperable computer with water damage to a computer repair shop is to determine if the computer can be salvaged, and short of that, determine if the data can be retrieved. 

    As far as I know, the only way a computer repair guy will only be able to tell if he were able to retrieve your data, is if you allow him access to your data.

    But to be honest I’m no computer genius: Is there a way to retrieve data from a computer hard drive without having access to the computer?

    • #15
    • October 19, 2020, at 3:54 PM PDT
    • 2 likes
  16. Brian Watt Member
    Brian WattJoined in the first year of Ricochet Ricochet Charter Member

    Just another potential lead for the FBI to look into…not that a prestigious university affiliated with Joe Biden would ever engage in money laundering. From May 27, 2020. Emphasis mine:

    The Biden Center at the University of Pennsylvania is under fire this week over its alleged failure to disclose millions of dollars in gifts from China. The center has allegedly failed to disclose $70 million in gifts from China since 2017.

    According to a report by Campus Reform, the Biden Center at UPenn is facing heightened scrutiny this week over a series of gifts from China that were not properly disclosed to the federal government.

    The center, which is named for Democratic presidential candidate Joe Biden, reportedly accepted a $22 million gift from an anonymous Chinese donor. Under federal law, foreign gifts over $250,000 must be disclosed to the government. Additionally, the name of the donor must be listed in the disclosure.

    The National Legal and Policy Center filed a complaint last week with the Department of Education over the University of Pennslyvania’s Biden Center for Diplomacy and Global Engagement’s failure to disclose large gifts from China.

    Golly, I wonder what happened to that complaint and if the FBI was also made aware of this glaring omission to report this $70 million gift from China.

     

    • #16
    • October 19, 2020, at 4:03 PM PDT
    • 6 likes
  17. kedavis Member

    EDISONPARKS (View Comment):

    Brian Watt (View Comment):

    Speaking of Hunter’s laptop (which I referred to in the OP)…the computer shop has produced the original receipt for it with Hunter’s signature showing he did drop off his MacBook Pro to the shop. A photo of the receipt in the link above.

    Repair Shop Receipt for Hunter Biden Laptop Revealed, Media Narrative Burns to the Ground

    One other point on this, I noticed a Democrat talking head the other day (I think on Martha McCallum’s FoxNews show) passing himself off as a computer expert saying that it would have been impossible to access Hunter’s hard drive and its contents because Apple has such iron-clad security protocols. Uh…no.

    As the current and past owner of several MacBook Pros, a couple that I’ve sent in for repairs, I can say with a high-degree of authority that most computer shops will ask for your Mac’s access code – especially if their is an OS or software glitch on an application that needs troubleshooting – even if you have a cracked screen or the Mac has been dropped and they need to see if the Mac is booting up properly. Once a repair shop has the user’s computer access code, they have ready access to the contents of hard drives UNLESS the user has taken extra measures to lock the hard drive, which most users do not do – because it can be bothersome constantly having to give permission to oneself to move files out of the hard drive onto the desktop or to another drive or to the Cloud…which is why a number of sex offenders have been arrested when repair shops have come across child porn.

     

    The entire point of bringing a inoperable computer with water damage to a computer repair shop is to determine if the computer can be salvaged, and short of that, determine if the data can be retrieved.

    As far as I know, the only way a computer repair guy will only be able to tell if he were able to retrieve your data, is if you allow him access to your data.

    But to be honest I’m no computer genius: Is there a way to retrieve data from a computer hard drive without having access to the computer?

    Not without a password, if it’s encrypted. When people would ask me to repair a computer, or for an upgrade, I might remove the original hard drive and put it in a different computer – one of mine, or the replacement computer for an upgrade – to recover/copy their data. It’s usually much faster than other kinds of “migration” and if the first computer won’t start/run reliably, it’s really the only option. But if the drive/data is encrypted, it may not work even with the password. Some encryption schemes are linked to the computer being used, to prevent people from using the removed drive. Even with password.

    • #17
    • October 19, 2020, at 4:10 PM PDT
    • 1 like
  18. Brian Watt Member
    Brian WattJoined in the first year of Ricochet Ricochet Charter Member

    EDISONPARKS (View Comment):

    Brian Watt (View Comment):

    Speaking of Hunter’s laptop (which I referred to in the OP)…the computer shop has produced the original receipt for it with Hunter’s signature showing he did drop off his MacBook Pro to the shop. A photo of the receipt in the link above.

    Repair Shop Receipt for Hunter Biden Laptop Revealed, Media Narrative Burns to the Ground

    One other point on this, I noticed a Democrat talking head the other day (I think on Martha McCallum’s FoxNews show) passing himself off as a computer expert saying that it would have been impossible to access Hunter’s hard drive and its contents because Apple has such iron-clad security protocols. Uh…no.

    As the current and past owner of several MacBook Pros, a couple that I’ve sent in for repairs, I can say with a high-degree of authority that most computer shops will ask for your Mac’s access code – especially if their is an OS or software glitch on an application that needs troubleshooting – even if you have a cracked screen or the Mac has been dropped and they need to see if the Mac is booting up properly. Once a repair shop has the user’s computer access code, they have ready access to the contents of hard drives UNLESS the user has taken extra measures to lock the hard drive, which most users do not do – because it can be bothersome constantly having to give permission to oneself to move files out of the hard drive onto the desktop or to another drive or to the Cloud…which is why a number of sex offenders have been arrested when repair shops have come across child porn.

     

    The entire point of bringing a inoperable computer with water damage to a computer repair shop is to determine if the computer can be salvaged, and short of that, determine if the data can be retrieved.

    As far as I know, the only way a computer repair guy will only be able to tell if he were able to retrieve your data, is if you allow him access to your data.

    But to be honest I’m no computer genius: Is there a way to retrieve data from a computer hard drive without having access to the computer?

    Well, you could remove the drive and put it into another computer – perhaps a Mac. They may or may not have done that. The shop did make a copy of the contents of the drive. The original hard drive and computer they gave to the FBI and the copy, I believe, they gave to Rudy Giuliani. I’m not sure if Steve Bannon also has a copy of the hard drive. Not a big fan of Bannon. Don’t follow him.

    • #18
    • October 19, 2020, at 4:13 PM PDT
    • Like
  19. Kozak Member
    KozakJoined in the first year of Ricochet Ricochet Charter Member

    • #19
    • October 19, 2020, at 4:24 PM PDT
    • 1 like
  20. Percival Thatcher
    PercivalJoined in the first year of Ricochet Ricochet Charter Member

    I do believe that this is what has in the past been referred to as “shock and awe.”

    • #20
    • October 19, 2020, at 4:37 PM PDT
    • Like
  21. Percival Thatcher
    PercivalJoined in the first year of Ricochet Ricochet Charter Member

    I’m waiting for ABC, CBS, NBC, NPR or CNN to declare one of these to be a bombshell.

    Pick one, gentlemen. Any one at all.

    • #21
    • October 19, 2020, at 4:39 PM PDT
    • 4 likes
  22. EDISONPARKS Member
    EDISONPARKSJoined in the first year of Ricochet Ricochet Charter Member

    Brian Watt (View Comment):

    Just another potential lead for the FBI to look into…not that a prestigious university affiliated with Joe Biden would ever engage in money laundering. From May 27, 2020. Emphasis mine:

    The Biden Center at the University of Pennsylvania is under fire this week over its alleged failure to disclose millions of dollars in gifts from China. The center has allegedly failed to disclose $70 million in gifts from China since 2017.

    According to a report by Campus Reform, the Biden Center at UPenn is facing heightened scrutiny this week over a series of gifts from China that were not properly disclosed to the federal government.

    The center, which is named for Democratic presidential candidate Joe Biden, reportedly accepted a $22 million gift from an anonymous Chinese donor. Under federal law, foreign gifts over $250,000 must be disclosed to the government. Additionally, the name of the donor must be listed in the disclosure.

    The National Legal and Policy Center filed a complaint last week with the Department of Education over the University of Pennslyvania’s Biden Center for Diplomacy and Global Engagement’s failure to disclose large gifts from China.

    Golly, I wonder what happened to that complaint and if the FBI was also made aware of this glaring omission to report this $70 million gift from China.

     

    It would also be interesting to find out if any of the extended Biden family earn salaries or some sort of board member remuneration from the Biden Center for Money Laundering Diplomacy and Global Engagements.

    • #22
    • October 19, 2020, at 8:01 PM PDT
    • 3 likes
  23. Brian Watt Member
    Brian WattJoined in the first year of Ricochet Ricochet Charter Member