The President of the United States (the most powerful man on the planet — theoretically) should be paid well.
Unfortunately for Joe, he did not lawfully win the Presidency, so that’s really a moot point.
But his 2021 earnings have recently been made public.
Would you like to know what he “officially” earned?
I say “officially” because I assume “10% for the Big Guy” was not reported on a K1 or W2….
Just a hunch.
But here’s what he officially earned for IRS purposes:
— New York Post (@nypost) April 15, 2022
From the NY Post:
President Joe Biden and first lady Jill Biden reported $610,702 in earnings and paid 24.6% in federal taxes last year, according to documents released by the White House Friday.
The first couple’s income was up slightly from the $607,336 they reported earning in 2020, but down significantly from 2019 when the Bidens earned almost $1 million, with large amounts from book sales and teaching positions.
The Bidens paid $150,439 in federal taxes and another $30,765 in their home state of Delaware, according to a copy of their joint return. Jill Biden also paid $2,721 in Virginia taxes. The federal total is down on the $157,414 tax bill the couple paid in 2020, while the couple’s federal rate is also lower than what they were taxed at for that year (25.9%). The average federal tax rate for Americans is about 14%.
The Bidens gave $17,394 in charitable donations in 2021, a little less than 3% of their income and just over half of the $30,704 they donated in 2020. The largest donation, of $5,000, went to the Beau Biden Foundation, named in honor of the president’s late son.
Between 2017 and 2019, in between his time as vice president and president, Biden earned more than $16.5 million, including large payouts for speaking at colleges and elsewhere. He earned almost $1 million from the University of Pennsylvania from 2017 to 2019, previous filings show.
The first couple’s total joint income for last year includes $378,333 of Joe Biden’s annual $400,000-a-year salary as commander in chief — prorated since he didn’t take office until Jan. 20, 2021. Jill Biden earned $67,116 teaching at Northern Virginia Community College.
The president also reported income from pensions and $61,995 from two so-called S corporations – CelticCapri Corp. and Giacoppa Corp. The S corporations comprised a majority of the Biden’s earnings between 2017 and 2019, the Federalist reported last week — which led to calls from some legal experts to call on the president to release corporate tax returns relating to the two.
Trevor perfectly highlights my question:
Does he report the payments made to the "big guy" on these returns?
— Trevor Belmont (@southerncoals) April 15, 2022
Meanwhile, Chris wonders how you amass four $10-million homes on that salary:
Yet they have 4 $10million homes
— Safemoon Navy Vet (@ChrisSmith1970) April 15, 2022
And you gotta love this:
I guess that 1099 from Hunter is late
— D (@sinkerator) April 15, 2022
I’m sure it will get reported in an Amended Filing….
— Roger Dorn (@z_todd) April 15, 2022