biden family corruption explained: "loan repayments" and "loans" aren't considered income

If you loan someone money, no one will be surprised to learn that amounts the borrower re-paid aren't considered "income" to you.

Similarly, if you borrow money--a bonafide loan--that's not taxable income.

So if you were a powerful person and wanted to disguise bribes to avoid paying income tax on those bribes, what would you do, eh?

Sure: Either claim the bribes were "loans," or "loan repayments."

That's exactly what the entire biden crime family has been doing

Notorious former crack-addict Hunty Biden got a whopping $4.9 million from Hollywood lawyer Kevin Morris over a three-year period, according to an IRS agent who investigated the president's son for alleged tax evasion.  But Hunty, being the fake preznit's son, didn't report this as income.  Rather, he claimed it was a loan.

Similarly, when joe biden's brother James got a check for $50,000 from one of Hunty's shell companies (which had just gotten $5 million from a Chinese company), he immediately wrote a check to joe for $40,000, with the caption "Loan repayment."  So no taxable income, eh?

And *certainly not a bribe.*

Now, if you or I tried that, the IRS would demand to see documentation, either that joe had loaned money to brother James, or that Hunty had borrowed money from Kevin Morris.  

Of course such documents can easily be created after the fact to back up the fraud.  But *crucially,* a claimed loan repayment would have to match an actual loan, as in...a check for the loan.  That check would have to have cleared--which can easily be verified.

Starting to see how the preznit's fraud can easily be proven?  Sure.  But because the "Justice Department" is totally corrupt, he'll never be charged.

It's far harder to prove that the so-called loan from Kevin Morris to hunty is a bribe and tax fraud, since a check actually cleared.  If documents are crafted after the fact, they'll specify that the first repayment is due in 2050 or some such--i.e. after the statute of limitations has tolled on tax fraud and bribery.

Two days ago IRS agent Joseph Ziegler testified before the House Ways and Means Committee and confirmed the $4.9 million "loan."  Bank examiners flagged the thing as suspicious, and Ziegler was pulled off the investigation by higher-ups.

It had previously been reported that Morris had paid about $2.3 million in unpaid income tax for Hunty.  Only now do we learn that the actual amount was twice that--$4.9 million.

Before the House on Tuesday Ziegler showed the committee an email showing that just two months after they Morris met Hunty, Morris was contacting accountants on Hunty's behalf, telling them to work quickly to avoid "considerable risk personally and politically."

Now, an honest bank would refuse to loan Hunty $4.9 mil because Hunty doesn't have any way to repay the alleged "loan."  Yet Morris is eager to "loan" Hunty the huge amount.  Why would move a rational person loan money to someone they knew couldn't pay it back, eh?  Dat a mystery.

Ziegler also testified that Hunty failed to reporting the million bucks a year he was paid by a Ukrainian gas company (Burisma) in 2014, instead allegedly claiming that it was a loan to him.  Ahhh, just like Morris supposedly did, eh?

Ziegler also reported that Hunty claimed the millions a Chinese energy company paid to one of his 22 shell companies ("Hudson West III") was yet another "loan" to him.  Hunty's accountants, finding no documentation, refused to sign off on that claim.

Seeing a pattern yet?  If you're a Democrat, you don't see a thing.  "Not a hint of corruption," eh?

Every American should recall "preznit" Porridgebrain promising that he had never discussed business with his son, nor met any of his son's associates.  Really.  Swearsies.  But now we have 327  emails to and from one of joe's "alias" email accounts showing this was a flat lie.

Another lie that's now been exposed is Porridgebrain's claim that when he threatened to withhold a BILLION dollar loan guarantee from the Ukraine government unless it fired the prosecutor looking into Hunter Biden's "business partners" at Burisma, he was only carrying out a goal of the Obama administration and State Department.

biden actually bragged about this on video, from the dais during a panel discussion in 2018.  Bragged that he got the prosecutor fired.  The corrupt liberal audience laughed at Porridgebrain's prowess.

But the State Department claims this extortion of the Ukrainian government was NOT U.S. government policy.  So another lie.

To repeat, our government had NO goal of forcing the Ukrainian government to fire their head prosecutor in order to get the loan guarantee.  Briefing materials given to Porridgebrain during his December 2015 flight to Ukraine made no reference at all to demanding that investigator Shokin be fired.

biden made the unauthorized demand because investigator Shokin was about to learn that joe's corrupt son was being paid literally a million dollars a year to sit on the board of Burisma, despite having no experience at all in energy, nor Ukrainian law.  It was textbook corruption.

Shapley and Ziegler claim that the Justice Department deliberately let the statute of limitations on serious charges against Hunty expire, refused to allow investigators to ask any questions about his father, withheld evidence from line investigators, excluded the investigative team from meetings with defense counsel, and tipped off defense counsel about pending search warrants.

Not a hint of corruption there, eh?

Does anyone believe a country can survive this much corruption by the "preznit" and his hand-picked lackeys, like Merrick Garland and DHS chief Mayorkas?

Source: Ace of Spades

https://acecomments.mu.nu/?post=407337