Biden's Income Last Year 688 Million Won... Decreased by 36% Due to Election Campaign

President Joe Biden of the United States [Photo by AP Yonhap News]

[Asia Economy Reporter Park Byung-hee] CNBC reported on the 17th (local time) that U.S. President Joe Biden's income decreased last year due to his focus on the presidential election campaign.

According to the income tax returns disclosed by President Biden and his wife, the couple earned $607,336 last year. This is a 35.7% decrease from their 2019 income of $944,737. It appears that they were unable to devote much time to economic activities due to concentrating on the presidential election. In 2019, the Bidens paid $299,346 in federal taxes, which was 31% of their income. Last year, they paid $157,414 in federal taxes, accounting for 25.9% of their income.

The Bidens reported incomes of $11 million and $4.5 million in 2017 and 2018, respectively, years when they had significant publishing revenue.

White House Press Secretary Jen Psaki subtly mocked former President Donald Trump before the release of Biden’s tax details, stating, "We expect to maintain the tradition of tax disclosure that all U.S. presidents should uphold." Former President Trump refused to disclose his taxes, breaking the long-standing practice for U.S. presidents.

President Biden also focused his attacks on Trump’s refusal to disclose tax records during the election campaign. Additionally, The New York Times revealed that billionaire Trump paid only $750 in property taxes in his first year in office, which was one-sixteenth of the $12,200 paid by former President Barack Obama in 2017, causing a stir.

The Biden couple donated $30,704 to 10 charitable organizations last year. They donated the largest amount, $10,000, to the non-profit organization 'Beau Biden Foundation,' which focuses on preventing child abuse. The foundation was established in memory of the Bidens’ eldest son, Beau Biden, who passed away from brain cancer.

Vice President Kamala Harris and her husband earned nearly three times more than the Bidens last year. Vice President Harris and her husband, Douglas Emhoff, earned a combined income of $1,695,225 last year, paying 36.7% of that in taxes. They also donated $20,766.

At the time, Vice President Harris was a senator, and her husband Emhoff was an entertainment law attorney based in Los Angeles (LA). Emhoff currently teaches law at Georgetown University.

This content was produced with the assistance of AI translation services.