New: Biden and the first lady paid $146,629 in federal income taxes on a combined $619,976 in adjusted gross income in 2023 — meaning the first family paid an effective federal income tax of 23.7% — according to tax filings released by the White House, @justinsink reports.
— Jennifer Jacobs (@JenniferJJacobs) April 15, 2024
From the Associated Press, “Tax Day reveals a major split in how Joe Biden and Donald Trump would govern”:
Tax Day reveals a major split in how Joe Biden and Donald Trump would govern: The presidential candidates have conflicting ideas about how much to reveal about their own finances and the best ways to boost the economy through tax policy.
Biden, the sitting Democratic president, released his income tax returns on the IRS deadline of Monday. Filing jointly with his wife, Jill, he reported gross income of $619,976 and paid a federal income tax rate of 23.7%…
Biden is proud to say that he was largely without money for much of his decades-long career in public service, unlike Trump, who inherited hundreds of millions of dollars from his father and used his billionaire status to launch a TV show and later a presidential campaign.
“For 36 years, I was listed as the poorest man in Congress,” Biden told donors in California in February. “Not a joke.”
In 2015, Trump declared as part of his candidacy, “I’m really rich.”
Tuesday Evening Open Thread: The President’s TaxesPost + Comments (55)