Kamala Harris has a major problem on her hands.
It’s a financial scandal she hoped to hide.
And Kamala Harris just broke this major promise she made to Joe Biden.
On the campaign trail, Joe Biden tried to contrast himself to Donald Trump by claiming he would be more open and transparent than President Trump in terms of his finances.
For years Democrats and corporate media activists fixated on the meaningless fact that Donald Trump was the first presidential candidate in decades not to release his tax returns as evidence Trump was somehow corrupt or financially compromised by the Russians.
Biden promised that as president he would “eliminate the trust loophole in existing financial disclosure law,” and that Biden would also “require that any member of his Administration who is a beneficiary of a discretionary trust disclose all of its holdings.”
Someone forgot to tell Kamala Harris.
Harris’s latest financial disclosure form shows that she and her husband Doug Emhoff take advantage of a family trust that provides for a better tax rate.
Fox News reports:
Vice President Kamala Harris keeps assets in a tax-advantaged family trust, a move that appears to violate an ethics pledge she and President Biden made on the campaign trail.
According to Harris’ financial disclosure form released Monday, she has been a trustee of the KDH/DCE family trust since 2017. The trust’s assets “are not reportable,” according to the filing, effectively obscuring some of the vice president’s holdings from public view.
Harris and Emhoff appear to use a family trust for real estate holdings.
Fox News also exclusively reports:
The couple’s trust is also tied to San Francisco real estate. City property records list the KDH/DCE family trust as a grantee of a condo Harris purchased for $489,000 in 2004 when she was first elected attorney general in California. The loft’s value nearly doubled since that time, and it sold in March for $860,000, according to Zillow.
Harris and Emhoff also transferred a multimillion dollar Brentwood, California home into the vehicle. Emhoff purchased the home for $2.7 million in 2012. After they married in 2014, the home was then rolled into the trust. The Los Angeles property is estimated to be worth $5.2 million.
Harris is one of many liberals that blabbers on about how the wealthy “do not pay their fair share.”
But wealthy Americans pay the lion’s share of federal taxes.
For the tax year 2018, the top one percent of Americans—defined as making more than $540,009—paid over 40 percent of all income taxes.
Liberals love to talk about “loopholes.”
There is really no such thing.
A loophole is just something that is legal.
Harris is shilling Joe Biden’s trillion in new taxes while taking advantage of every deduction, credit and chance to legally reduce her tax bill.
And Harris’s actions are in direct defiance of Joe Biden’s promise.
If you want American Patriot Daily to keep you up to date on any new developments in this ongoing story and the rest of the breaking news in politics, please bookmark our site, consider making us your homepage and forward our content with your friends on social media and email.