1y ago

Bidens release tax return that shows they made almost $620,000 in 2023

www.cnn.com

Bidens release tax return that shows they made almost $620,000 in 2023 | CNN Politics

President Joe Biden and first lady Dr. Jill Biden earned $619,976 in 2023, according to their joint tax returnreleased by the White House on Monday – the deadline date for Americans to file their taxes.

The White House also released the return for Vice President Kamala Harris and second gentleman Doug Emhoff, showing that pair made $450,299 last year.

“President Biden believes that all occupants of the Oval Office should be open and honest with the American people,” the White House said in a statement on Monday, “and that the longstanding tradition of annually releasing presidential tax returns should continue unbroken.”

That statement could be seen as a dig at former President Donald Trump, who declined to voluntarily release his tax returns while he was president. Six years of Trump’s tax returns, including from his time as president, were released to the public by the House Ways and Means Committee at the end of 2022.

The bulk of the Bidens’ income came from President Biden’s congressionally mandated $400,000 salary, along with pensions. The first lady also earned $85,985 from her position as a teacher at Northern Virginia Community College.

85 comments

You know what's disgusting? 85k salary for a teacher. Teachers need more.
- A teacher with a doctorate.
- Way more than my mom was paid as a teacher. She climbed the ranks for 20 years until retiring relatively recently, and barely broke 70 in all that time.
- Oh boy don’t look at Florida’s teacher salaries then. (Or whatever hell holes are the 2 states lower than us)
  
  Cries in Oklahoma. I'm hearing from other locals that, since we're losing so many teachers, some classes are being combined into gymnasiums with 120 kids to 1 teacher. Fuck Governor Stitt and his goon Ryan Walters.
- I would like to know where to be to make that kind of money. My partner with a masters, just started making low 60s and we live in the highest paying district in the state. Avg home price is 575,188 and they have 70k in. No wonder we can buy here and stay here
- I mean, in general, sure? It's a very expensive area, 100k is middle class even with the public servant housing programs they run
  It's community college though - is she teaching a class a week or full time?
  I'm more concerned about elementary school teachers being sucked dry for $55-75k with higher degrees ( that's 10k up from what it was a decade ago... I hope I'm way under but I'm probably over)
- It’s a community college, so she might only teach one or two classes
- President does not pay Teachers.
  
  I know, I can be annoyed without it being in their control.
  
  Tolookah never suggested that.
- $85k for teacher seems reasonable in my opinion, especially considering how much time they get off during the year.
  I thought it was much lower than that.
  That said, I would love to see them make more than that. However, teaching is a fulfilling and rewarding job, and a lot of people do it for that reason. That makes it a competitive job market, and that's probably why salaries are low.
  
  You think teachers just vacation when they’re not in class, how cute
  
  First of all, she's a college professor not a "teacher".
  Second, teachers at lower levels are leaving the profession. There's not enough teachers for the roles right now. It's not rewarding anymore.
  
  Just another person who simply does not understand how teaching works.
  
  You could give me 11 months off work and I'd still want at least three times that much to be a teacher.
Now let's compare the numbers to Donald Trump's...oh thats right, he said he would release his nine years ago and never did.
- He couldn't even scrape together $200m despite insisting that he's a billionaire. I think we can pretty confidently assume he has hamberder wrappers in his wallet and nothing else.
  
  No, he probably got some Adderall prescriptions he stole from Baron.
- Because he's a broke ass bitch
- Two more weeks! There are just so many papers. Two more weeks. They'll be perfect tax returns.
  
  Right after his amazing health care reform, and just before his very big infrastructure plan.
Okay?
The presidential salary is $400,000/yr, which is pretty small compared to a lot of NATO countries. Jill just has to pull in $200k, which is probably pretty doable for people with their background- I'd bet they own a business or two at least, in which case this is still fairly modest in the US. It's an unimaginable amount of money for me and almost anyone I know, but it's really not out of the ordinary (and maybe even pretty low) for someone in an ownership/leadership position in the US.
- Here's a full breakdown:
  Biden's presidential salary is $400,000. Jill Biden reported earning $85,985 from Northern Virginia Community College, where she teaches. The Bidens collected $129,876 in taxable interest, pensions and annuities, Social Security benefits, and IRA distributions − significantly more than in 2022, producing the spike in income. Jill Biden also reported $4,115 in royalties from prior book publications.
  From USA Today
  Biden does get a pension for his time as Vice President and senator and they both qualify for social security.
  
  Damn, they’re not rich enough to buy a large house in a blue state.
Article says Jill pulls $85k. So the rest is probably investments, which is pretty damn modest, considering their age.
- The Bidens collected $129,876 in taxable interest, pensions and annuities, Social Security benefits, and IRA distributions − significantly more than in 2022, producing the spike in income. Jill Biden also reported $4,115 in royalties from prior book publications.
  Sauce: USA Today
- Considering the dude has been in the Senate since dinosaurs were on the planet during which time he could partake legally in inside trading and he had access to much of the world's confidential information and a long list of people volunteering to do him favors.
  That's Jimmy-Carter-selling-his-peanut-farm modest.
- Biden can look forward to a federal government pension when he retires in 2029
- That's way lower than I'd expect for someone with a doctorate. I guess it makes sense if she only works part time?
  
  Last I checked, median pay actual drops going from a Masters to a PhD.
Seems very modest for the most powerful positon on earth
- I'm of two minds here. I don't think anyone for any reason should be allowed to earn over a half million per year. But also there are people whose positions are far less important who have earnings significantly higher than this.
  The carryover effect of an economic system that that has catastrophically imbalanced wealth distribution means that in order for actually qualified people occupying roles that are important, you need to compensate them at a very high rate.
  
  I generally agree with you, but half a mil is peanuts and those aren't the people I think we should be eating. I think something in the 5-10m range is where we should be taking 90% of it or something. But yeah, you need to pay leaders enough for the job to be worth doing, because the goodness of one's heart doesn't provide unfortunately.
- Found the American.
  
  no I'm from austria.
  
  Out of curiosity, What position do you feel is more powerful?
  I'm not American, but I don't feel there is anyone more powerful than the person commanding the single most powerful fighting force in the history of the earth.
Compare that to what chief executives of corporations make.
- Yes, but then ask yourself which of these roles makes all the rules in this country
  
  Biden isn't making all the rules in the country. Hell, he's been made mostly a lame duck president by Congress' obstruction.
  
  The corporations make the rules
That's actually not a lot for being the president. Tons of CEOs are making like 100x that lol.
- 400k of that is just from the Presidential salary. Which is way higher than I recall from when I learned about it in high school (iirc shit was only 100k/year).
  
  Yeah it's been going up. Makes sense. Arguably not enough for how much stress that job is. Of course it comes with a free house and that has a bowling alley in it, and escape hatches for hookers.
  
  Probably keeps up with inflation better than the min wage.
The real money from the presidency comes after which is when they get paid millions in speaking fees to take advantage of connections.
- There's a real chance that if he wins, he dies naturally in office.
Effective tax rate of 23.64%. He's very nearly in the 1% as far as yearly wages go, probably is when you calculate his total net worth. He paid $146k in taxes, more than some people will pay in their whole lifetime.
- He's in the top 5%-2% of income, with the 1% starting at 800k or so.
  He's worth about 10 million dollars.
  The 1% of Networth begins around 10 billion dollars.
  By income He's near the top, but definitely not near the top of net worth. I'm guessing the income statistics get skewed by the fact that usually the ultra wealthy don't take most of their wealth growth as income.
This is the best summary I could come up with:
The White House also released the return for Vice President Kamala Harris and second gentleman Doug Emhoff, showing that pair made $450,299 last year.
“President Biden believes that all occupants of the Oval Office should be open and honest with the American people,” the White House said in a statement on Monday, “and that the longstanding tradition of annually releasing presidential tax returns should continue unbroken.”
Six years of Trump’s tax returns, including from his time as president, were released to the public by the House Ways and Means Committee at the end of 2022.
They donated $5,000 to the Beau Biden Foundation, which works to protect children from abuse and is named after the president’s late son, and smaller amounts to organizations including the Fraternal Order of Police, a Wilmington fire station and St. Joseph on the Brandywine.
Harris and Emhoff reported an income of $456,918 in 2022 and $1.6 million in 2021 - the year they sold a house.
The current first couple restarted the tradition of the first family releasing their tax returns upon taking office in 2021.
The original article contains 433 words, the summary contains 181 words. Saved 58%. I'm a bot and I'm open source!
I thought the Fraternal Order of Police was making enough on the kickbacks from telemarketing scams?
lol you don’t even know why you’re downvoting this. Go watch the documentary.

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