US President Joe Biden has released his tax returns for 2022. According to this, the Biden couple had taxable income of 534,912 US dollars (around 488,000 euros) last year.
The Bidens paid almost $170,000 in taxes on their income. Before tax depreciation, the couple’s income was just under $580,000, according to the document. The majority of the Bidens’ income was reportedly made up of the $400,000 presidential salary set by the US Congress. The couple paid federal taxes at 24.6 percent of their earnings, or $137,658.
First Lady Jill Biden, who teaches at Northern Virginia Community College and is the first US First Lady with a job outside the White House, earned $82,335.
The list lists a good $20,000 in charitable donations. The largest donation of $5,000 went to the Beau Biden Foundation, named after Joe Biden’s late son, which fights against child abuse.
On Tuesday, Biden’s deputy Kamala Harris and her husband Doug Emhoff also made their earnings public. In 2022, they earned $456,918 gross and paid $93,570 in taxes to the federal authorities and a good $17,000 in their home state of California.
The tax return of US presidents has been a political issue at least since Biden’s predecessor Donald Trump. For years, Trump had resisted the release of his tax records and even went to the US Supreme Court to prevent them from being released. In the end, however, he lost and the Budget Committee of the House of Representatives published Trump’s tax returns for the years 2015 to 2020. According to this, Trump made losses and profits in the tens of millions. In some years, he paid little to no taxes, according to the records. The real estate entrepreneur Trump had always tried to present himself as a successful businessman. However, the tax returns reveal massive deficits.
Taxes are a sore point for Trump. Just last week, he was questioned by prosecutors in New York about his business practices. He, the company that bears his name, and his three children, Donald Junior, Eric, and Ivanka, are accused of scaling assets up or down as needed, including to pay less taxes.
Because of his renewed presidential candidacy, Trump disclosed his finances at the end of March. Accordingly, he earned more than five million dollars with appearances as a speaker. His series of digital trading cards, which show him in various poses including cowboy, astronaut and fighter pilot, brought him between $100,000 and $1 million.
