Bidens release tax return that shows they made almost $620,000 in 2023 ( www.cnn.com )

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.

Wisas62 ,

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.

Bernie_Sandals ,
@Bernie_Sandals@lemmy.world avatar

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.

moon ,

That's actually not a lot for being the president. Tons of CEOs are making like 100x that lol.

Kolanaki ,
@Kolanaki@yiffit.net avatar

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).

JustZ ,
@JustZ@lemmy.world avatar

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.

Senshi ,

The reason politicians should have good salaries is that it should dissuade them from being attracted by bribes or other kinds of corruption. Of course, some peoples' greed knows no bounds.

And frankly, I'd much rather see public servants rake in big money than the 0.1% "businessmen".

GnomeKat ,
@GnomeKat@lemmy.blahaj.zone avatar

Probably keeps up with inflation better than the min wage.

hark ,
@hark@lemmy.world avatar

The real money from the presidency comes after which is when they get paid millions in speaking fees to take advantage of connections.

isles ,

There's a real chance that if he wins, he dies naturally in office.

aluminium ,

Seems very modest for the most powerful positon on earth

twig ,

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.

Dozzi92 ,
@Dozzi92@lemmy.world avatar

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.

fah_Q ,

Found the American.

aluminium ,

no I'm from austria.

skozzii ,

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.

fah_Q ,

Have you heard of El Dragon?

Danquebec ,

Not US American either here.

I think Xi Jinping might be the most powerful person. China is not as powerful as the US, but Xi holds more power over his country than his counterpart in the US.

sartalon ,

Article says Jill pulls $85k. So the rest is probably investments, which is pretty damn modest, considering their age.

formergijoe ,

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

silence7 ,

Biden can look forward to a federal government pension when he retires in 2029

JustZ ,
@JustZ@lemmy.world avatar

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.

ashok36 ,

That's way lower than I'd expect for someone with a doctorate. I guess it makes sense if she only works part time?

sin_free_for_00_days ,

Last I checked, median pay actual drops going from a Masters to a PhD.

conditional_soup ,

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.

formergijoe ,

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.

bradorsomething ,

Damn, they’re not rich enough to buy a large house in a blue state.

JustZ ,
@JustZ@lemmy.world avatar

You know we don't charge the full price of the house all at once in blue States right?

samus12345 ,
@samus12345@lemmy.world avatar

Joe Biden's net worth is around $10 million.

Bernie_Sandals , (edited )
@Bernie_Sandals@lemmy.world avatar

He owns two houses in Blue states, that's where 7 million dollars of his 10 million dollar net worth comes from.

Still significantly less than any usual oligarch, dictator, or any member of an S&P 500 company C suite.

silverbax ,

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.

InternetUser2012 ,

Because he's a broke ass bitch

ilinamorato ,

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.

JustZ ,
@JustZ@lemmy.world avatar

No, he probably got some Adderall prescriptions he stole from Baron.

ilinamorato ,

Yeah, and maybe a frequent shoppers card from Epstein's island.

jkrtn ,

Two more weeks! There are just so many papers. Two more weeks. They'll be perfect tax returns.

sin_free_for_00_days ,

Right after his amazing health care reform, and just before his very big infrastructure plan.

Rapidcreek ,

Compare that to what chief executives of corporations make.

thefartographer ,

Yes, but then ask yourself which of these roles makes all the rules in this country

ThePowerOfGeek ,
@ThePowerOfGeek@lemmy.world avatar

Biden isn't making all the rules in the country. Hell, he's been made mostly a lame duck president by Congress' obstruction.

thefartographer ,

What? Yes, that's exactly the point. I was responding to someone implying that the president, the leader of our country, makes less than CEOs. From that, I suggested that CEOs make more because they have more political power than the president.

Granted, it was tongue-in-cheek and we both left a number of gaps to fill in, but you're arguing the same point as I am.

ganksy ,
@ganksy@lemmy.world avatar

CEO: What should I do today? A. Rebrand the company. B. Cut jobs. C. Enshitify product or service

Implying that POTUS has an easier job than a CEO?? Really

CaptainSpaceman ,

Easier isnt the point. More powerful is.

ganksy ,
@ganksy@lemmy.world avatar

Makes more decisions > makes less. Was exactly his point.

CaptainSpaceman ,

What? Yes, that's exactly the point. I was responding to someone implying that the president, the leader of our country, makes less than CEOs. From that, I suggested that CEOs make more because they have more political power than the president.

Reading hard?

ganksy ,
@ganksy@lemmy.world avatar

You took Rapidcreek's comment that it's ridiculous to make a giant fuss over Biden and his wife making 600+k in a year when CEOs make exponentially more and made it into a supposedly tongue-in-cheek comment about executives making all the real decisions in the country. Like some sort of poke at capitalism which no one would disagree with. Only it looks much more like you were justifying CEO pay.

Writing hard?

thefartographer ,

Y'all are really good at putting words in other people's mouths. When did I ever say "easier" or who does more work or anything?

I mean, you're welcome to infer anything you want to, but you're completely wrong about what I was implying.

Lemme try to break it down into smaller, easier to digest pieces for you:

  • We vote for our politicians
  • Our politicians become or already were gross cretins sucking at the teat of corporations
  • We vote on issues
  • Politicians listen to the corporations instead
  • Politicians shape laws to the desires of corporations
  • Outcome: corporations write our laws via lobbying
  • Satirical conclusion: corporations have more influence on politics than the president, therefore CEOs deserve more money for their role in politics since they produce more predictable results
Semi_Hemi_Demigod ,
@Semi_Hemi_Demigod@lemmy.world avatar

"YOU JUST WANT TRUMP TO WIN" - centrists

thefartographer ,

The worst part is that it isn't even a dig against Biden

I can't tell if people are trying to defend CEOs or Biden in these arguments

24_at_the_withers ,

Sadly, reading comprehension of Lemmy users leaves a lot to be desired.

I also think many that misunderstand something would rather entrench and make a ridiculous argument than admit any kind of fault.

maryjayjay ,

Woosh

ThePowerOfGeek ,
@ThePowerOfGeek@lemmy.world avatar

Ahhh. Fair.

Son_of_dad ,

The corporations make the rules

thefartographer ,

Corporation makes a million dollars, I make a dime

That's why I'm crying all the time...

Decoy321 ,

It helps if you also poop on company time

Tolookah ,

You know what's disgusting? 85k salary for a teacher. Teachers need more.

WeirdGoesPro ,
@WeirdGoesPro@lemmy.dbzer0.com avatar

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.

TigrisMorte ,

President does not pay Teachers.

CowsLookLikeMaps ,
@CowsLookLikeMaps@sh.itjust.works avatar

Tolookah never suggested that.

TigrisMorte ,

incorrect. the assumption is implied from the headline and while no that was not the comment's intent it is playing along none the less.

CowsLookLikeMaps ,
@CowsLookLikeMaps@sh.itjust.works avatar

You're saying Tolookah is "playing along" with an "implied assumption" [that you made] from the headline.

So they still never said that Biden directly pays teachers. You made an assumption about a headline and are forcing it as a strawman argument.

There's need to be condescending and dismissive, it makes it unpleasant to have discussions online.

TigrisMorte ,

No, I did not say that. In fact I explicitly state that was not their intent. Please desist in lying.

CowsLookLikeMaps ,
@CowsLookLikeMaps@sh.itjust.works avatar

I explicitly state that was not their intent.

I don't know what to say... It's clear that you're either trolling at this point or just very toxic. Blocked.

Tolookah ,

I know, I can be annoyed without it being in their control.

TigrisMorte ,

But you see the point of the article is to get folk thinking about the inequity and blame the President. Thus, while you didn't take the bait, you are circling the hook and paying attention.

CaptainSpaceman ,

Because theres large inequity and it should be addressed

Tolookah ,

Next complaint: they make that much and get public housing? Wtf? (/s)

TigrisMorte ,

relevance to the issue being discussed is the problem. not the other, utterly unrelated to anything involved in this thread, issue folks insist upon attempting to derail this thread with.

idiomaddict ,

It’s a community college, so she might only teach one or two classes

manual3204 ,
@manual3204@iusearchlinux.fyi avatar

When I was an adjunct in 2018, I earned about $4k/class.

idiomaddict ,

Yeah, I’m assuming she’s pretty highly paid in comparison to her coworkers, but community colleges don’t pay especially well.

Ideally community colleges can get specialized funding so they can pay their workers adequately without raising prices.

TowardsTheFuture ,

Oh boy don’t look at Florida’s teacher salaries then. (Or whatever hell holes are the 2 states lower than us)

iheartneopets ,

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.

TowardsTheFuture ,

ouch. I'm sorry.

youngGoku ,

$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.

KevonLooney ,

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.

funkless_eck ,

my wife is a senior lecturer at a university and makes 50k, so these aren't accurate numbers at all.

KevonLooney ,

Sounds like she works at a stingy university, and is probably not also the President's wife.

funkless_eck ,

higher educational recruitment is a mess. She gets a daily email digest of jobs, there have been 2 in the last 5 years she could've applied to with better rates of pay, but both were very rural and away from friends and family by thousands of miles

4am ,

You think teachers just vacation when they’re not in class, how cute

Treczoks ,

Just another person who simply does not understand how teaching works.

necromancyr ,

Just another teacher that simply doesn't understand how other jobs work.

Semi_Hemi_Demigod ,
@Semi_Hemi_Demigod@lemmy.world avatar

You could give me 11 months off work and I'd still want at least three times that much to be a teacher.

formergijoe ,

A teacher with a doctorate.

Pacmanlives ,

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

theneverfox ,
@theneverfox@pawb.social avatar

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)

Thrillhouse , (edited )

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.

autotldr Bot ,

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!

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