The White House released President Biden’s tax returns last night, reinstituting a presidential tradition bucked by Donald Trump. Biden and his wife Jill, who had a joint tax return, earned $607,336 last year, causing them to pay $157,414 in federal income tax, a rate of 25.9 per cent. SponsoredThe couple’s income fell considerably from 2019, as Biden passed on lucrative speaking engagements to run for president. In 2019, the pair earned about $985,000, and paid nearly $300,000 in federal taxes, according to a trove of tax returns released during the campaign. The administration said the disclosure continued “an almost uninterrupted tradition”, which was widely seen as a dig at Trump, who repeatedly refused

Source: The Times May 18, 2021 03:45 UTC