Last week, the Medicare trustees finally released their long-delayed annual report into that program’s finances. It confirmed the program remains on shaky fiscal footing, concluding the Medicare trust fund that pays for hospital inpatient expenses will become insolvent in 2026, just five short years from now.
President Joe Biden helped contribute to the deterioration in Medicare’s finances. By using a questionable tax loophole to avoid payroll taxes on more than $13.5 million in income from 2017 through 2020, Biden and his wife Jill dodged nearly $395,000 in Medicare taxes, along with more than $122,000 in taxes that fund Obamacare.
But you won’t find any mention of this in corporate media, so I decided to do a little digging to find out how and why.
Saturation About Trump’s Taxes, Little About Biden’s
I examined Politico, a publication many “inside-the-Beltway” types read. It showed a yawning gap between coverage of Joe Biden’s tax affairs compared to coverage of his predecessor.