HomeLatest NewsBiden and spouse disclose $620K income on 2023 taxes.

Biden and spouse disclose $620K income on 2023 taxes.

Published on

President Joe Biden and his wife Jill released their 2023 tax returns, revealing a 7% increase in income to $619,976, with 23.7% paid in federal taxes. As Biden seeks re-election in 2024, he emphasized the importance of transparency by continuing the tradition of making presidential tax returns public. In contrast, former President Donald Trump, who is facing legal challenges related to his personal finances, did not release his tax returns while in office, citing an ongoing IRS audit.

Biden and Jill primarily earned their income from their respective jobs as U.S. president and teacher. Additional income came from investments, pensions, and book royalties. Biden’s tax return showed a similar proportion of income going to federal taxes compared to the previous year. The couple also donated $20,477 to charity, supporting various organizations including churches and public health groups. Biden is set to deliver a speech on tax policy in Scranton, Pennsylvania, advocating for higher rates for the wealthy as the state is expected to play a crucial role in the 2024 election.

Vice President Kamala Harris and her husband, Douglas Emhoff, also released their tax return for 2023, indicating $450,380 income, $88,570 in federal taxes, and charitable donations totaling $23,026. The disclosures by Biden and his running mate highlight their commitment to transparency and accountability as they navigate the upcoming election cycle. This contrast with Trump’s approach to tax transparency underscores the divergent philosophies of the two major parties on financial disclosures and accountability in public office.

Source link

Latest articles

Waterfront Restoration’s Expert Aquatic Weed Removal in Long Lake, MN

Frustrated by the weeds and invasive species preventing his family from enjoying the lake,...

Enhancing Paradise: The Ultimate Guide to Landscape Concrete Edging in Hawaii Island for Unbeatable Curb Appeal

As a Hawaii resident deeply entwined with your island roots, you understand the irresistible...

Leading-edge Irrigation Maintenance Services in Port Charlotte, FL by Shaffer’s Irrigation

Boosting the health of your landscape through efficient irrigation requires skill, knowledge and experience....

Experience Remarkable Terrazzo Refurbishing in Sarasota, FL with Intra State Terrazzo and Concrete

Keen on understanding the intricacies that underline the worth of hiring qualified service professionals...

More like this

Waterfront Restoration’s Expert Aquatic Weed Removal in Long Lake, MN

Frustrated by the weeds and invasive species preventing his family from enjoying the lake,...

Enhancing Paradise: The Ultimate Guide to Landscape Concrete Edging in Hawaii Island for Unbeatable Curb Appeal

As a Hawaii resident deeply entwined with your island roots, you understand the irresistible...

Leading-edge Irrigation Maintenance Services in Port Charlotte, FL by Shaffer’s Irrigation

Boosting the health of your landscape through efficient irrigation requires skill, knowledge and experience....