How much did Joe Biden pay in taxes?

JOE Biden paid thousands, if not millions, of dollars in federal income tax since 2016, according to his campaign website.

These figures lie in stark contrast to his opponent President Donald Trump, who paid a mere $750 in income tax between 2016-2017 according to the New York Times.

⚠️ Follow our US election 2020 live blog for the latest news & updates

How much did Joe Biden pay in taxes?

According to income taxes posted to his campaign's website, Democratic presidential candidate Joe Biden paid $92,198 in federal taxes in 2016 and $3,742,974 in federal taxes in 2017.

In 2016, when Biden was still vice president, Biden and his wife Jill reported income from Social Security benefits, pensions and annuities as well as small business income and real estate rental income.

In 2017, the Biden's household income jumped significantly from $396,552 to $9,578,639 after the couple left the White House.

Biden agreed to an $8million three-book deal with Flatiron Books and secured multiple speaking engagements as a result.

They reportedly owed the IRS $1,666 after filing their 2017 taxes, according to the return.

In 2018, he paid over a million dollars in federal taxes.

Last year when Biden was running for the Democratic nomination, his spokesperson Andrew Bates told CNBC that Biden, “grew up in a blue collar family that was forced to move away from home in order to make ends meet.”

Bates added, “Fighting for working families has been the defining cause of Joe Biden’s life. He’s running to restore the American middle class, with everybody – regardless of race, gender, religion, or sexual orientation – in on the deal this time.”

At an event in Wisconsin mid-September, Biden, speaking before union members said, “I’ve dealt with guys like Trump my whole life… who do everything they can to avoid paying what they owe in taxes, because they figure the rest of us can pick up the tab.”

How much did Trump pay in taxes?

President Donald Trump paid $750 in federal taxes in 2016 and the same amount in 2017, according to the New York Times.

His taxes for 2018 and 2019 were not provided to the outlet, although his tax returns for those particular years were leaked to them.

Trump has declined to release any information on his tax returns on his own accord due to an "IRS audit."

The newspaper also reported that Trump has paid no federal income taxes in 10 of the last 15 years.

He is the first president in almost 50 years to not release his personal tax records.

After the Times report was published, the president took to Twitter to defend his position, writing: "The Fake News Media, just like Election time 2016, is bringing up my Taxes & all sorts of other nonsense with illegally obtained information & only bad intent. I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits.”

As a result of the story, the Biden campaign set up a "Trump Tax Calculator" that tells people how much more they paid in federal income taxes than Trump by simply subtracting $750.

Trump will face Biden to answer a series of questions over four weeks of presidential debates.

The first presidential debate will be held tonight (September 29) in Cleveland, Ohio.

You can find the rest of the debate schedule here.

Source: Read Full Article