Biden-Harris release their 2019 tax returns

[thierryrreiht 16,389]

Ahead of tonight's presidential debate, Joe Biden and Kamala Harris (and spouses) released their 2019 tax returns.

The returns show that Biden and his wife, Jill, reported $944,737 in taxable income last year and paid $299,346, or a 31% tax rate, in federal income taxes. The Bidens also reported making $14,700 in charitable contributions.

Harris and her husband, attorney Doug Emhoff, reported $3,018,127 in taxable income, the majority of it via Emhoff’s partnership at the global law firm DLA Piper. They paid federal income taxes of $1,185,628, or an effective tax rate of 39%. Harris and Emhoff also reported making charitable donations of $35,390 last year.

The release was a strategic move, coming less than 48 hours after The New York Times published a bombshell investigation based on more than a decade’s worth of Trump’s tax returns, showing that he paid just $750 in individual federal income taxes in 2016 and 2017.

The Times also found that for 10 of the previous 15 years before he was elected to the White House, Trump paid no federal income taxes because his businesses lost hundreds of millions of dollars, which he was able to use to reduce his tax burden. Trump called the Times’ expose “fake news” but did not directly dispute any of the figures contained in it.  

https://www.cnbc.com/2020/09/29/joe-biden-releases-2019-tax-returns-ahead-of-presidential-debate.html

 

Edited September 29, 2020 by thierryrreiht

[FudgeyBear 1,914]

Brilliant. 

[ShayCristoforo 7,908]

Tuning in from Canada:

[Million Gypsies 634]

Yet people are still defending Trump for only paying $750 

"hE's NoT rEcEiViNg InCoMe FrOm BeInG tHe PrEsIdEnT tHoUgH" is such a tired excuse for it, ESPECIALLY when he's already a multi-billionaire 

[StarstruckIllusion 25,893]

He got that done in like a day, and yet Trump needed like 4 years?  Biden just embarrassed tf outta him 

[Curunir 7,509]

I can't wait for the debate tbh 

It's going to be a complete and utter hot mess but my god will I be entertained 

[pachinko 4,809]

Thank you for posting this! 

[Defmix100 4,667]

that's great but is 31% pretty low still for that income? I think I pay about that much, though I am in the UK

[PartySick 59,735]

3 minutes ago, Defmix100 said:

that's great but is 31% pretty low still for that income? I think I pay about that much, though I am in the UK

I honestly don't remember how income taxes work in the US (even though I pay them ) but I believe they come in brackets and, depending on how much you report, you pay between 10% and 40% (those numbers could be wrong )

[Defmix100 4,667]

6 minutes ago, PartySick said:

I honestly don't remember how income taxes work in the US (even though I pay them ) but I believe they come in brackets and, depending on how much you report, you pay between 10% and 40% (those numbers could be wrong )

I just looked and apparently if you earn over $518,000 you pay 37%, in the UK it's higher where you would pay 45% for anything over £150,000

[blankpaper 12]

12 minutes ago, Defmix100 said:

that's great but is 31% pretty low still for that income? I think I pay about that much, though I am in the UK

7 minutes ago, PartySick said:

I honestly don't remember how income taxes work in the US (even though I pay them ) but I believe they come in brackets and, depending on how much you report, you pay between 10% and 40% (those numbers could be wrong )

I don’t know the 2019 tax tables off the top of my head but for 2020 the highest bracket is 37%. It’s not 37% on all income though, so Biden’s is probably about right. Kamala’s seems high

[Defmix100 4,667]

1 minute ago, mauvais said:

They should pay more 

When compared to others in their income bracket? No. For the general wellbeing of society? Yes.

oh yeah definitely compared to Trump haha and I'm sure majority of others

[bionic 14,547]

Kamala got money?!  

[Mister G 4,997]

[PartySick 59,735]

4 minutes ago, bionic said:

Kamala got money?!  

Her husband's got stacks from the law firm

She's richer than Trump though even without him

Spoiler

Hell, you and I are richer than Trump is