The President Releases His Tax Info. So Does The VP.

[BarryLaverty]

Restoring a routine that started 40 plus years ago and which was interrupted by Trump being in office. 

https://www.yahoo.com/news/president-biden-vice-president-harris-225415146.html

President Biden earned $607K in 2020, paid 26% in federal taxes, returns show

Joey Garrison and Michael Collins, USA TODAY

Mon, May 17, 2021, 9:22 PM

 

 

 

 

 

 

 

0:27

0:59

 

 

 

 

 

 

Here are 5 mistakes that could cost you when filing your 2021 returns

 

 

 

 

WASHINGTON — President Joe Biden and first lady Jill Biden reported earning $607,336 last year and paying $157,414 in federal income taxes, according to 2020 federal tax returns made public Monday, a decline in income from the previous year.

The White House released the Bidens' tax returns and those of Vice President Kamala Harris and second gentleman Doug Emhoff, coinciding with Monday's extended deadline to pay federal income taxes.

The transparency restores a White House tradition that was broken by former President Donald Trump, who refused to release his tax returns as president. It marks the 23rd year of tax returns released by Biden.

"I would expect that we will continue to release the president's tax returns," White House press secretary Jen Psaki said at Monday's press briefing, "as should be expected by every president of the United States."

The Bidens, who filed their tax returns jointly, had an effective federal income tax rate of 25.9%. The average rate for all Americans is 14.6%.

The Bidens also reported paying $28,794 in Delaware income tax in separate state income tax returns made public. In addition, Jill Biden released her Virginia income tax return, reporting paying $443 in Virginia income tax.

 

President Joe Biden on May 5, 2021, in Washington, D.C.

Harris and Emhoff reported federal adjusted gross income of $1,695,225 in 2020 and paying $621,893 in federal income tax, amounting to an effective federal income tax rate of 36.7%.

The 2020 tax returns cover a period while Biden was running for president and Harris, then a U.S. senator from California, was campaigning as Biden's running-mate.

More than one-third of the income reported by the Bidens, $252,035, came from pensions and annuities. The Bidens earned an additional $212,681 from Giacoppa Corp., a corporation formed by the Bidens. The couple reported $45,836 in Social Security benefits and $12,861 from Northern Virginia Community College, where Jill Biden teaches English.

The Bidens reported donating $30,704 to charitable organizations in 2020, totaling 5.1% of their income. Their largest charitable contribution, $10,000, was to the Beau Biden Foundation, a charity named for the president's late son dedicated to ensuring children are free from abuse. Biden donated $5,000 apiece to the Food Bank of Delaware and International Association of Fire Fighters Foundation and $1,000 to St. Joseph on the Brandywine, the Catholic Church that he and the first lady regularly attend in Wilmington, Delaware.

In 2019, Biden paid $287,693 in federal income taxes and reported an adjusted gross income of $985,233. The Biden campaign released the 2019 tax returns hours before his first debate with Trump in September.

Harris and Emhoff paid $125,004 in California income tax in 2020, and Emhoff paid $56,997 in District of Columbia income tax, according to state returns also released. The second couple reported paying $27,006 in charity in 2020 – 1.6% of their total income.

More: How Trump's taxes during his first year in office compare with other presidents'

Trump refused to release his tax records when he ran for president in 2016 and during the four years he was in office, breaking a 40-year tradition of presidents sharing their tax returns with the public in one form or another. Trump used the excuse that he could not reveal them because of an audit by the Internal Revenue Service. An audit, however, does not prevent a president from releasing his records.

The New York Times said last September it obtained copies of Trump’s tax records, which showed he paid only $750 in personal federal income taxes in 2016 and 2017 and no income taxes at all in 10 of the previous 15 years. The records also showed Trump was beset by hundreds of millions in personal debt that would come due within the next four years, the paper said.

Trump dismissed the report as “totally fake news” and claimed, without presenting evidence, that he paid taxes.

Joey Garrison and Michael Collins cover the White House. Reach Garrison on Twitter @joeygarrison and Collins @mcollinsNEWS.

[Monte1076]

Eh. They don't have to. None of them do. It's tradition, not law. Should they? In the interest of disclosure, sure. And sure, people can get irritated about Trump not showing his taxes, but again, it's not law. Did he violate a law by not releasing his taxes?

But the Democrats have an opportunity, here. Just make it law. If you wanna run for President (or Senate or Congress), pass a law. They have the majority in both houses. One of them should just write up a bill, send it to the floor for a vote. It could be a pretty small, straightforward bill that's easy for everyone to read. They could probably pass it with a simple majority.

But they won't. You know it, and I know it.

But should they?

And on top of that, do you think that Biden & Harris "paid their fair share" of taxes? If so, why? If not, why not?

According to this 2019 article, he may be in the 1%.

https://www.businessinsider.com/personal-finance/income-family-top-1-percent-every-state-2019-4

 

[DB2point0]

26 minutes ago, Monte1076 said:

Eh. They don't have to. None of them do. It's tradition, not law. Should they? In the interest of disclosure, sure. And sure, people can get irritated about Trump not showing his taxes, but again, it's not law. Did he violate a law by not releasing his taxes?

But the Democrats have an opportunity, here. Just make it law. If you wanna run for President (or Senate or Congress), pass a law. They have the majority in both houses. One of them should just write up a bill, send it to the floor for a vote. It could be a pretty small, straightforward bill that's easy for everyone to read. They could probably pass it with a simple majority.

But they won't. You know it, and I know it.

But should they?

And on top of that, do you think that Biden & Harris "paid their fair share" of taxes? If so, why? If not, why not?

According to this 2019 article, he may be in the 1%.

https://www.businessinsider.com/personal-finance/income-family-top-1-percent-every-state-2019-4

 

While they’re at it, make it a law to prove citizenship while you’re at it.

[RETIREDFAN1]

[DB2point0]

Wasnt Trump under an audit? 

[Youngcoach123]

Lie! 
 

The New York Times said last September it obtained copies of Trump’s tax records, which showed he paid only $750 in personal federal income taxes in 2016 and 2017 and no income taxes at all in 10 of the previous 15 years. The records also showed Trump was beset by hundreds of millions in personal debt that would come due within the next four years, the paper said.

 

Barry out here promoting propaganda

[BarryLaverty]

3 minutes ago, Youngcoach123 said:

Lie! 
 

 

The New York Times said last September it obtained copies of Trump’s tax records, which showed he paid only $750 in personal federal income taxes in 2016 and 2017 and no income taxes at all in 10 of the previous 15 years. The records also showed Trump was beset by hundreds of millions in personal debt that would come due within the next four years, the paper said.

 

Barry out here promoting propaganda

What part of that is 'biased or misleading'? What part isn't true? 

[RETIREDFAN1]

16 minutes ago, Youngcoach123 said:

 

 

Barry out here promoting propaganda

That's all Larry ever does.......

[PepeSilvia]

[Youngcoach123]

31 minutes ago, BarryLaverty said:

What part of that is 'biased or misleading'? What part isn't true? 

The “only” part. Further into the times story you’ll find this gem.

1 mil in 16 and 4.2 in 17. Tell me if that biased or misleading?
So it was an outright lie and you were spreading media propaganda. 

[RETIREDFAN1]

20 minutes ago, PepeSilvia said:

shows your ignorance of the tax laws........the wealthy have all those breaks put in by BOTH parties in congress over the years....taking advantage of them is perfectly fine.....if you don't like them, tell your libnut congressmen to stop rewarding their wealthy donors with tax breaks.......

[Monte1076]

So again, I'll ask our Democratic friends on here: Did Biden and Harris pay "their fair share"? If so, why? If not, why not?

[BarryLaverty]

41 minutes ago, RETIREDFAN1 said:

That's all Larry ever does.......

Yeah, unlike the guy who uploads every Breitbart and WND link available! 

[RETIREDFAN1]

1 minute ago, BarryLaverty said:

Yeah, unlike the guy who uploads every Breitbart and WND link available! 

Two of the very FEW credible news sources available.........

[PepeSilvia]

36 minutes ago, RETIREDFAN1 said:

shows your ignorance of the tax laws........the wealthy have all those breaks put in by BOTH parties in congress over the years....taking advantage of them is perfectly fine.....if you don't like them, tell your libnut congressmen to stop rewarding their wealthy donors with tax breaks.......

Ummm I hate to break it to you but I live in Texas and my congressmen are moronic Cons. 

[Monte1076]

I'll note that no one has answered whether or not Biden & Harris "paid their fair share".

[Youngcoach123]

18 minutes ago, PepeSilvia said:

Ummm I hate to break it to you but I live in Texas and my congressmen are moronic Cons. 

Jett says move.

[Hagar]

Oh wow, released his taxes.  And don’t forget, no mean tweets.  What a great President.  What a leader.  What a guy.

[RETIREDFAN1]

27 minutes ago, PepeSilvia said:

Ummm I hate to break it to you but I live in Texas and my congressmen are moronic Cons. 

They ALL voted for the tax system as it currently exists.......let them know how you feel......

[DannyZuco]

4 hours ago, BarryLaverty said:

Restoring a routine that started 40 plus years ago and which was interrupted by Trump being in office. 

https://www.yahoo.com/news/president-biden-vice-president-harris-225415146.html

President Biden earned $607K in 2020, paid 26% in federal taxes, returns show

Joey Garrison and Michael Collins, USA TODAY

Mon, May 17, 2021, 9:22 PM

 

 

 

 

 

 

 

0:27

0:59

 

 

 

 

 

 

Here are 5 mistakes that could cost you when filing your 2021 returns

 

 

 

 

WASHINGTON — President Joe Biden and first lady Jill Biden reported earning $607,336 last year and paying $157,414 in federal income taxes, according to 2020 federal tax returns made public Monday, a decline in income from the previous year.

The White House released the Bidens' tax returns and those of Vice President Kamala Harris and second gentleman Doug Emhoff, coinciding with Monday's extended deadline to pay federal income taxes.

The transparency restores a White House tradition that was broken by former President Donald Trump, who refused to release his tax returns as president. It marks the 23rd year of tax returns released by Biden.

"I would expect that we will continue to release the president's tax returns," White House press secretary Jen Psaki said at Monday's press briefing, "as should be expected by every president of the United States."

The Bidens, who filed their tax returns jointly, had an effective federal income tax rate of 25.9%. The average rate for all Americans is 14.6%.

The Bidens also reported paying $28,794 in Delaware income tax in separate state income tax returns made public. In addition, Jill Biden released her Virginia income tax return, reporting paying $443 in Virginia income tax.

 

President Joe Biden on May 5, 2021, in Washington, D.C.

Harris and Emhoff reported federal adjusted gross income of $1,695,225 in 2020 and paying $621,893 in federal income tax, amounting to an effective federal income tax rate of 36.7%.

The 2020 tax returns cover a period while Biden was running for president and Harris, then a U.S. senator from California, was campaigning as Biden's running-mate.

More than one-third of the income reported by the Bidens, $252,035, came from pensions and annuities. The Bidens earned an additional $212,681 from Giacoppa Corp., a corporation formed by the Bidens. The couple reported $45,836 in Social Security benefits and $12,861 from Northern Virginia Community College, where Jill Biden teaches English.

The Bidens reported donating $30,704 to charitable organizations in 2020, totaling 5.1% of their income. Their largest charitable contribution, $10,000, was to the Beau Biden Foundation, a charity named for the president's late son dedicated to ensuring children are free from abuse. Biden donated $5,000 apiece to the Food Bank of Delaware and International Association of Fire Fighters Foundation and $1,000 to St. Joseph on the Brandywine, the Catholic Church that he and the first lady regularly attend in Wilmington, Delaware.

In 2019, Biden paid $287,693 in federal income taxes and reported an adjusted gross income of $985,233. The Biden campaign released the 2019 tax returns hours before his first debate with Trump in September.

Harris and Emhoff paid $125,004 in California income tax in 2020, and Emhoff paid $56,997 in District of Columbia income tax, according to state returns also released. The second couple reported paying $27,006 in charity in 2020 – 1.6% of their total income.

More: How Trump's taxes during his first year in office compare with other presidents'

Trump refused to release his tax records when he ran for president in 2016 and during the four years he was in office, breaking a 40-year tradition of presidents sharing their tax returns with the public in one form or another. Trump used the excuse that he could not reveal them because of an audit by the Internal Revenue Service. An audit, however, does not prevent a president from releasing his records.

The New York Times said last September it obtained copies of Trump’s tax records, which showed he paid only $750 in personal federal income taxes in 2016 and 2017 and no income taxes at all in 10 of the previous 15 years. The records also showed Trump was beset by hundreds of millions in personal debt that would come due within the next four years, the paper said.

Trump dismissed the report as “totally fake news” and claimed, without presenting evidence, that he paid taxes.

Joey Garrison and Michael Collins cover the White House. Reach Garrison on Twitter @joeygarrison and Collins @mcollinsNEWS.

Whoop di do!!!!!! Who's business is it to see another person's income taxes. Again, you love spreading misinformation--but that seems to be what parrots do. We have been a country for over 200 years, not even 20% of the Presidents that have been in office have shown their tax records, but you seem to think it is some high priority. It's not to most Americans. Just those with hatred in their hearts all the time. Just so everyone remembers, we know that.....

You have to ask yourself with these tax laws today--do you get a tax write-off for the RENT in your head? LOL

[Youngcoach123]

1 hour ago, Youngcoach123 said:

The “only” part. Further into the times story you’ll find this gem.

1 mil in 16 and 4.2 in 17. Tell me if that biased or misleading?
So it was an outright lie and you were spreading media propaganda. 

Notice no response when caught outright lying. Typical lefties. They just move on to the next lie.

[BarryLaverty]

4 minutes ago, DannyZuco said:

Whoop di do!!!!!! Who's business is it to see another person's income taxes. Again, you love spreading misinformation--but that seems to be what parrots do. We have been a country for over 200 years, not even 20% of the Presidents that have been in office have shown their tax records, but you seem to think it is some high priority. It's not to most Americans. Just those with hatred in their hearts all the time. Just so everyone remembers, we know that.....

You have to ask yourself with these tax laws today--do you get a tax write-off for the RENT in your head? LOL

First, since the IRS, in any form, has only been in existence since the Civil War, your assertion isn't really factual or relevant to the discussion. Second, clearly Trump didn't release his taxes, not because of an audit, but because he has a mountain of issues and he didn't want to be forthcoming and shake the wrong perception that he was a wise, judicious and ethical master business person. Knowing that blind partisanship drives your day, while ethics seems to take a back seat, I know you may not care about our leaders being forthcoming and transparent in their obligations or entanglements, but the rest of America, outside Trumplicans, does. And Trumplicans, back when they belonged to the GOP, seemed to care. 

[Monte1076]

13 minutes ago, BarryLaverty said:

First, since the IRS, in any form, has only been in existence since the Civil War, your assertion isn't really factual or relevant to the discussion. Second, clearly Trump didn't release his taxes, not because of an audit, but because he has a mountain of issues and he didn't want to be forthcoming and shake the wrong perception that he was a wise, judicious and ethical master business person. Knowing that blind partisanship drives your day, while ethics seems to take a back seat, I know you may not care about our leaders being forthcoming and transparent in their obligations or entanglements, but the rest of America, outside Trumplicans, does. And Trumplicans, back when they belonged to the GOP, seemed to care. 

Did Biden and Harris pay "their fair share"?

[Youngcoach123]

13 minutes ago, BarryLaverty said:

First, since the IRS, in any form, has only been in existence since the Civil War, your assertion isn't really factual or relevant to the discussion. Second, clearly Trump didn't release his taxes, not because of an audit, but because he has a mountain of issues and he didn't want to be forthcoming and shake the wrong perception that he was a wise, judicious and ethical master business person. Knowing that blind partisanship drives your day, while ethics seems to take a back seat, I know you may not care about our leaders being forthcoming and transparent in their obligations or entanglements, but the rest of America, outside Trumplicans, does. And Trumplicans, back when they belonged to the GOP, seemed to care. 

Ethics?? Transparent and forthcoming?? You must have fell and bumped your head bud. 
what’s the ethics of placing your crack headed son on a oil and gas board in a foreign country while you’re the VP? Then claim no foul play but offer nothing to prove no foul play. Is that forthcoming? 

[RETIREDFAN1]

3 minutes ago, Youngcoach123 said:

Ethics?? Transparent and forthcoming?? You must have fell and bumped your head bud. 
what’s the ethics of placing your crack headed son on a oil and gas board in a foreign country while you’re the VP? Then claim no foul play but offer nothing to prove no foul play. Is that forthcoming? 

Listening to a libnut talking about ethics is about as legit as listening to Satan quote scripture.......