President Biden and his wife, Jill, earned $610,702 during their first year in the White House and paid $150,439 in federal income taxes. That was a tax rate of 24.6% for 2021,…
(Newser) – President Biden and his wife, Jill, earned $610,702 during their first year in the White House and paid $150,439 in federal income taxes. That was a tax rate of 24.6% for 2021, well over the average of around 14% for all Americans, the AP reports. The totals were similar to the Bidens’ 2020 returns, when they reported earning $607,336 as he ran for president. They reported a federal income tax rate of 25.9% then. The national median household income was $67,521 in 2020, according to census data. It’s the second straight year Biden has released his tax returns from the White House, reestablishing a tradition that presidents make their filings public after President Donald Trump declined to do so.
