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The Bidens release their tax returns and show their 2023 income

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The Bidens release tax returns (Photo: Shutterstock)
  • The Bidens release tax returns.
  • The White House announces the president’s earnings.
  • What was their combined income?

The Bidens have released their tax returns for 2023.

Vice President Kamala Harris and her husband Doug Emhoff also released their returns, highlighting the administrations commitment to transparency.

This reinforces public trust in the government and restores a tradition that was set aside during the last administration.

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The Bidens release their taxes for 2023!

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U.S. President Joe Biden and First Lady, Jill Biden, earned $619,976 in 2023, according to EFE.

This was disclosed in their joint tax return released on Monday by the White House, continuing the tradition of presidents disclosing their annual earnings.

The Bidens paid $146,629 in federal income taxes and made a payment of $30,908 in state taxes in Delaware.

The First Lady also paid $3,549 in Virginia income taxes.

What do the returns tell us?

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The president’s returns highlight the complexity of tax obligations that can arise from multiple sources of income and residences in different states.

It’s worth noting that the earnings reported by the Bidens in 2023 represents a significant increase compared to the previous year.

In 2022, they had earned a total of $579,514, which means an increase of almost $40,000 in just one year.

Why did their income increase last year?

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This increase can be attributed to a variety of factors, such as changes in investments, additional earnings from outside ventures or adjustments in income sources.

The White House emphasized that this act of transparency is not just a formality but a genuine commitment to accountability and honesty with the American people.

The official statement highlights Biden’s belief that all occupants of the Oval Office should be open and transparent regarding their personal finances.

This commitment is based on the conviction that public trust is fundamental to the effective functioning of democracy.

Why did the Bidens release their tax returns?

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It’s important to view this in the recent political context, to understand the significance of this action.

Releasing presidential tax returns had become an established tradition in the United States.

However, it was interrupted during Donald Trump’s term in office when he refused to disclose any specifics about his income.

This generated considerable controversy.

A positive change?

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Biden’s return to this tradition reflects a shift in American political culture, marking a return to transparency and accountability.

Trump’s refusal to disclose his tax returns highlighted the importance of understanding where political leaders are getting their money.

In addition to the Bidens’ tax returns, the White House also made public the tax return of Vice President Kamala Harris and her husband, Doug Emhoff.

The couple reported earnings of $450,299 in 2023 and paid $88,570 in federal taxes, as well as $15,167 in state taxes in California, according to EFE.

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