WASHINGTON (AP) – President Joe Biden and his wife, Jill, earned $ 610,702 in their first year in the White House and paid $ 150,439 in federal income tax. This is a rate of 24.6% for 2021, which is on average above approximately 14%.
The median household income in 2020 was $ 67,521, according to the United States Census.
Both this year and last year were a sharp drop for Biden compared to 2019, when he earned nearly $ 1 million, primarily from book sales, lectures, and teaching positions at the University of Pennsylvania and Community College. . of Northern Virginia.
Jill Biden was still teaching in Virginia before she became First Lady.
The couple donated $ 17,394 to 20 different charities in 2021. The largest donation was $ 5,000 to the Bo Biden Foundation, a non-profit organization working to fight violence against children named after son, Boss, who died in 2015 of brain cancer at the age of 46.
The Bidens also issued a 2021 Delaware tax return and said they paid $ 30,765 in state income tax there. The First Lady released a statement in Virginia showing she paid $ 2,721 in Virginia income tax.
Vice President Kamala Harris and her husband, Doug Emhoff, have released tax documents for 2021 showing that they will generate $ 1,655,563 in 2021 and pay $ 523,371, the federal income tax rate of 31.6%. Harris and Emhoff also paid $ 120,517 in California income tax and $ 2,044 in New York income tax.
This is the second consecutive year that Biden has released his tax returns from the White House, reviving the tradition of presidents to give their documents to the public after former President Donald Trump failed to do so.
Biden campaigned for transparency of his personal finances, publishing a 22-year tax return before the 2020 election. This is a direct challenge for Trump, who for years has argued that the audit is prevented his tax exemptions. although the IRS asks him to review the tax returns of presidents and vice presidents who have been in power for more than four decades.
The New York Times later obtained Trump’s tax documents and reported he paid only $ 750 in federal income tax In his first year of working at the White House. Data from the IRS shows that the average taxpayer paid approximately $ 12,200 in 2017, about 16 times higher than what the former president paid.
Source: Huffpost
