Above info is from the American President’s (and his wife’) tax forms…
They ain’t millionaires….
Donald Trump NEVER released his tax forms and the NY Times reported he only paid $750 in 2016, the year he got elected President ….He’s ‘supposed’ to be worth over a billion dollars….
President Biden released tax forms on Monday showing that he and his wife, Jill Biden, earned just over $600,000 in 2020. The release resumed a presidential tradition of disclosure broken by Donald J. Trump.
The Bidens paid an effective federal income tax rate of 25.9 percent after donating about 5 percent of their income to charity, the documents showed. Their total federal income tax bill was just over $157,000. For 2019, the Bidens had an adjusted gross income of $985,000 and paid federal income taxes of nearly $288,000.
Mr. Trump declined to release his tax returns while a candidate and while president from 2017 through the start of this year, saying he was under audit. He fought efforts by prosecutors and congressional Democrats to obtain the returns. Documents obtained last year by The New York Times showed that Mr. Trump paid $750 in federal taxes in 2016, the year he won the presidency, after reporting heavy losses in his business empire to offset his income.
Previous presidents had released tax returns annually, dating back to Richard Nixon.
Vice President Kamala Harris and her husband, Douglas Emhoff, a lawyer, also released their 2020 tax forms on Monday. They earned nearly $1.7 million for the year and paid an effective federal income tax rate of 36.7 percent….