For years, ex-US President Trump refused to disclose his finances. His successor Biden does things differently and thus follows political customs in the US.
Washington (AP) – Unlike Donald Trump’s predecessor in office, US President Joe Biden continues to publish his annual tax return. Biden and his wife Jill earned more than $ 600,000 in income in 2020.
The couple paid a good $ 157,000 federal income tax and paid another $ 29,000 in their home state of Delaware, the White House said.
With the publication of the tax return, Biden followed political customs in the US. The new entrant on the political side, Trump, who has made his fortune primarily from real estate, had always refused to accept this tradition as president and fought in court to keep his tax payments secret.
US Vice President Kamala Harris and her husband Douglas Emhoff reported income of $ 1.7 million for 2020, on which they paid about $ 800,000 in total in taxes. For the former senator and her husband, a successful lawyer, the income in the election year was significantly lower than in 2019. At the time, the two had a total income of just under 3.3 million dollars. For former Senator and Vice President Biden, 2019 was a better year financially: at the time, he and his wife Jill reportedly had more than $ 985,000 in income.
Biden and Harris had prevailed against Trump in last November’s election. You have been in office since 20 January.
According to reports from US media, Republican Trump would have paid hardly any income tax to the federal government for years. The New York Times reported that Trump paid just $ 750 in income tax in 2016 and 2017. Trump dismissed the report across the board at the time, but also pointed out that the president pays millions of other taxes.
The New York City Prosecutor’s Office is likely already gaining access to Trump’s tax files due to ongoing investigations and a corresponding Supreme Court ruling. Publication of the documents seems unlikely, however.
The Democrat Biden wants to increase the income tax for top earners – which would also affect himself. With the proceeds, Biden wants to finance large investments in infrastructure and social benefits. Whether he can get Congressional approval for this is still uncertain, as he would have to rely on several dissenters from the Republicans in the Senate.
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