President Joe Biden and first lady Jill Biden recently released their 2022 tax returns to the public. Their combined gross income for the year? $579,514. That's roughly $31,000 less than the previous year. Of the $579,000 in income they earned, a little under 70% came from Joe's $400,000 Presidential salary.
The return shows the couple paid $137,658 in federal income tax at a rate of 23.8%, plus another $29,023 in state income tax to their home state of Delaware. Jill Biden owed the state of Virginia a little over $3,100 connected to her salary as a teacher at Northern Virginia Community College.
The Bidens also filed $20,180 worth of charitable contributions for 2022, spread out across 20 different charities. The largest one was a $5,000 donation to the family's own Beau Biden Foundation.
Stefani Reynolds/Getty Images
Vice President Kamala Harris and her husband Doug Emhoff disclosed their own 2022 tax returns as well. They reported gross income of $456,918 for 2022, a somewhat steep drop from the $1.7 million they earned in 2021. Their federal income tax bill came to $93,570, with another $17,612 going to California. Emhoff paid a Washington DC income tax of $9,697. As for charitable contributions, they gave $23,000 over the course of the year.
A press release touted Biden's having publicly released the "most tax returns of any president while in office," with a total of 25 tax returns having been released by the president. And if you look at their earnings by year, you'll notice that the Bidens tend to generate a lot more income when they aren't serving as elected officials:
- 2016: $400,000
- 2017: $11 million
- 2018: $4.6 million
- 2019: $944,737
- 2020: $607,336
- 2021: $610,702
- 2022: $579,514
It's a stark contrast with the Bidens' financial situation before Joe was elected vice president in 2008.
Back in his days as a senator, he often proclaimed himself to be among the least wealthy members of Congress, touting his net worth of a relatively paltry $500,000.
Following his term as VP, financial disclosures showed a bump in net worth to $1.5 million. But serving in the White House tends to bump up one's speaking fees and book advances, and the couple's income peaked in 2017 at $11 million largely from those sources. Between 2016 and 2019 alone, the couple earned just under $17 million.
:max_bytes(200000):strip_icc()/GettyImages-1267433253-2153310b49974906bafe9a89cca95354.jpg)
