Sen. Ted Cruz has called on the U.S. House to “force” President Joe Biden to reveal the source of a $10 million cash payment that he received in 2017.
During the Friday edition of his podcast, “Verdict with Ted Cruz,” the senator addressed reports that Biden’s 2017 tax return contains $10 million from an unidentified source.
“You’re looking at a tax return that has $10 million in cash that came from a mystery source,” Cruz said on the podcast.
“Now let’s look at the timing here. The whistleblower says when he was vice president, a senior executive at Burisma offered him $5 million cash personally in order to make a corrupt deal and make official decisions for Burisma,” he continued.
“The year he leaves the vice presidency in 2017, he reported over $10 million of income in two corporations that he and his wife set up, and we know nothing, zero whatsoever about the source of that income,” he added.
He then argued that “the House of Representatives oughta force” the president to hand over the tax returns for the two corporations, CelticCapri Corp and GiaCoppa Corp.
“Because, you know, what if half of that $10 million is the $5 million payment for Burisma for the bribe?” the senator said.
“Joe Biden better start sizing up for an orange jumpsuit. Because, as he rightly said, ‘Where’s the money?’ If that’s where the money is, then he’s guilty of a serious felony. We have utterly no idea where that $10 million came from,” he added.
Cruz further noted that it seems unlikely that Biden had earned the $10 million from book deals and speaking engagements alone.
“So let’s take Joe’s numbers. He’s claiming that Joe netted $12.2 million for a book deal. His book deal sold about 300,000 copies. Now, the $12 million, $4.2 million of that is allegedly from speaking, and I can believe that he probably got pretty good speaking fees. that that’s plausible. That means he’s claiming $8 million of income came from book royalties,” he said.
“Now let’s do some math. His book had a retail price of $27 for hardcover, $18 for paperback. If you assume a reasonable mix of sales, the average price was $23. On 300,000 books sold, the gross revenue everyone makes is just under $7 million. What Joe is alleging is they paid him $8 million to generate $7 million,” he added.
And that clearly makes no sense.
“The book publisher lost a million dollars and got no money for printing the book. Typically, an author, if you were just receiving a royalty, would have received about 12%. A typical blended royalty, you’d get about 15 percent. For hardcover, about 7.5 percent for paperback is typical. If Joe was receiving 12 percent of $7 million, he would have yielded about $800,000. He’s claiming he got $8 million. That math doesn’t add up,” Cruz continued.
We have utterly no idea how Joe Biden earned $10 million the year after he left the White House.
Don’t miss the latest episode of #Verdict, where we try to answer Biden’s question, “Where’s the money?” https://t.co/jKjIN10p4o pic.twitter.com/tNbmnu2hzR
— Ted Cruz (@tedcruz) June 16, 2023
Later in the podcast episode, Cruz also wondered aloud why the Biden family had opened a bunch of shell companies while he was still in office as vice president.
“On the face of it, it screams that they’re trying to conceal what’s happening with those shell companies. You know, who does that? Drug dealers do that; the mafia does that; criminals do that. Now, maybe if you’re like a billionaire tycoon, you might do that. If you’re like developing, you know, projects all over the country, maybe you do that,” he said.
“But Joe Biden isn’t doing any of that. He was vice president of the United States. He doesn’t know anything about business. Why on earth does he need 20 shell companies if it’s not to hide and shield the income?” he added.
Cruz’s remarks came two days after Sen. Ron Johnson and Reps. Eli Crane and Nancy Mace called for the president to come clean about all the money.
“Biden should disclose, and every member of the press ought to hound him until he does,” Johnson told Breitbart News.
“If he’s serious about proving our allegations wrong, he should release his and his family’s unredacted bank records and show the American people where all this money is coming from. The FBI can’t protect him forever,” Mace added.
Speaking last, Crane reiterated the other two’s points.
“The fact that there are credible claims signaling that a foreign national bribed the President of the United States with cash in exchange for influence over U.S. policy decisions is appalling. The American people deserve to know who paid the Bidens and what exactly they were paid for,” he said.
MACE: “When Biden says ‘Where’s the money?’ I think that was a Freudian slip — the money is in all the shell companies that your family created to get money funneled from other countries into your back pocket.” pic.twitter.com/XKhid76wSa
— Spencer Brown (@itsSpencerBrown) June 9, 2023
Writers and editors can be contacted at [email protected] with feedback, tips, or corrections.
V. Saxena is a staff writer with a decade of experience as a professional writer, and a lifetime of experience as an avid news junkie. He holds a degree in computer technology from Purdue University. Saxena also contributes to BizPac Review.
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