Allegations of a Four-Year Tax Scheme
Special Counsel David Weiss has accused the president’s son of engaging in a four-year scheme to evade paying at least $1.4 million in federal taxes. These taxes were owed for the years 2016 through 2019, with false returns filed in 2018. Weiss claims that Hunter Biden withdrew millions from his own company, Owasco, PC, outside of the proper payroll and tax withholding process, in furtherance of this scheme.
Lavish Lifestyle and Potential Consequences
It is alleged that Hunter Biden used the money to fund an extravagant lifestyle instead of paying his tax bills. The president’s son now faces up to 17 years in prison if convicted.
A Stance on Fairness and the Rich
President Biden, who has repeatedly called for the wealthy to pay their fair share in taxes, now finds himself facing criticism as his own son is accused of tax evasion. Throughout his 2020 campaign, Biden emphasized the need for corporations and the rich to contribute more in taxes and has proposed measures to target tax cheats.
Biden’s Call to Action and Hiring Plan
During his campaign and presidency, Biden has consistently called for higher taxes on the wealthy, framing it as a way to reward work and create a more inclusive middle class. He has proposed doubling the size of the IRS and hiring 87,000 new IRS workers over the next decade to crack down on tax evasion.
The Cost of Unpaid Taxes
The Treasury Department has highlighted the cost of unpaid taxes, stating that they put a burden on American households and compliant taxpayers. This lost revenue can lead to rising deficits, reduced spending on essential priorities, or further tax increases.
Response from the White House
The White House has not yet responded to requests for comment on these allegations.
