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.
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.
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