President Joe Biden stated on Sunday that corporations and the wealthy are finally paying "their fair share."
According to a recent report by Breitbart News, this is despite the fact that he and his family are being investigated by House Republicans for money laundering, wire fraud, and tax evasion, and his son is under federal investigation for tax crimes.
Biden then signed the 2022 Inflation Reduction Act, which establishes a 15% minimum corporate tax rate. The legislation also includes funding for 87,000 new IRS agents.
Hunter is also being investigated by the Justice Department for tax and gun violations.
The investigation, which has been ongoing for years and has been the subject of months of debate among Justice Department officials, also focuses on the Biden family's foreign business schemes while Joe Biden was vice president.
“Look, I’m a capitalist. But the wealthiest and biggest corporations need to pay their fair share,” Biden stated on Twitter.
“Thankfully now, because of the law I signed, billion-dollar companies have to pay a minimum 15 percent in taxes,” Biden said.
“I want to be clear, this is an investigation of Joe Biden,” House Oversight Committee Chair Rep. James Comer (R-KY) stated in November. “The Biden family’s business dealings implicate a wide range of criminality from human trafficking to potential violations of the constitution.”
The punishment for a government official committing tax evasion will depend on several factors, including the severity of the offense and the laws of the jurisdiction in question.
In most jurisdictions, tax evasion is considered a serious offense, and government officials who commit tax evasion may face harsher penalties than ordinary citizens. This is because they are in positions of trust and are expected to uphold the law.
The penalties for tax evasion can include fines, imprisonment, or both. In some cases, the government may also seek to recover any taxes owed, plus interest and penalties.
In the United States, for example, the punishment for tax evasion can include up to five years in prison and fines of up to $250,000 for individuals or $500,000 for corporations.
Additionally, if the government official used their position of authority to commit tax evasion, they could face additional charges of corruption or abuse of power.
It's also worth noting that government officials may face additional consequences beyond the legal penalties for tax evasion. This could include damage to their reputation, loss of their job, and other professional or personal consequences.
In summary, the punishment for a government official committing tax evasion can be severe, including fines, imprisonment, and other legal and non-legal consequences.