Joe Biden is clearly not good at debating, but he seems to be great at using his personal belongings like an ATM machine.
President Joe Biden and First Lady Jill Biden have multiple mortgages and have reportedly refinanced theirs 35 times.
The Daily Mail published an article alleging that Joe and Jill Biden were “using their Delaware home to make some quick cash.”
Since purchasing the $350,000 home, the couple has reportedly refinanced it 20 times, taking out a total of $4.2 million in mortgage payments. The Bidens have borrowed a combined $6 million on both properties, and still owe $541,000 on their current Wilmington home, nearly 30 years after purchasing it.
The Biden family’s net worth is reportedly $10 million, but the president has claimed this comes from a “book deal,” raising questions about their frequent refinancing.
“There is no record of him receiving any compensation other than the contract fee, because no one reads the book.” Glenn Beck He says, confused.
While it’s unlikely Biden will honestly answer why he’s refinancing his mortgage so frequently, ChatGPT has some theories.
“That’s what ChatGPT came up with,” Glenn says. “We’ll start with number 5, which is the least likely.”
“Continuous refinancing can be a way to manipulate debt and create the appearance of legitimate financial activity, which can help justify large amounts of money received or repaid,” Glenn said.
The fourth, ChatGPT speculates, is tax evasion.
“Refinancing provides a way to manipulate table income and allows the president to avoid tax on illicit funds by circulating mortgages. It allows the president to claim interest deductions and reduce his overall taxable income,” Glenn explains via his AI bot before reading off the third bullet point.
“Asset concealment. Frequent refinancing may be used to hide the true financial situation and hide assets from investigators and regulators. This may help evade detection of illicit funds,” he said.
The second is to “create a paper trail.”
“Mortgage cycling can leave a complex trail of financial documentation, making it difficult for investigators to trace the true source and destination of funds. This can also serve to conceal illegal financial activity,” Glenn continues.
According to ChatGPT, the main reason the president keeps refinancing his mortgage is that it “can be a way to launder illegal money.”
“ChatGPT didn’t give a single reason for being non-malicious,” Glenn says, unfazed.
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