Joe Biden and Kamala Harris go public with their 2020 finances: she made a million dollars more than him

US President Joe Biden and his wife Jill made just over $ 600,000 last year, according to their tax return, although the real news is that the document was released. Like the US president, Vice President Kamala Harris also published her finances: She earned more than her boss. US leaders have always released their annual tax returns, detailing sources of income and taxes paid, on behalf of Transparency. Former President Donald Trump broke with that tradition, refusing during his tenure to disclose information about his finances or the true state of his property and brand empire. In their 2020 joint tax return, Joe and Jill Biden, a A professor of higher education, they reported federally adjusted gross income of $ 607,336. They paid $ 157,414 in federal income taxes, an effective rate of 25.9%, and $ 28,794 of the same tax to the state where they resided before arriving at The White House, Delaware. Biden’s number two, Vice President Kamala Harris, is several rungs above him on the financial ladder. The former California senator filed a joint tax return with her husband, attorney Doug Emhoff, reporting a federally adjusted gross income of $ 1,695,225. She and her husband paid $ 621,893 in federal income taxes, which is a rate of 36.7%. They also paid $ 125,004 in California income tax, and Emhoff paid $ 56,997 in Washington, DC.Emhoff was a high-profile attorney in the entertainment industry and took a leave of absence from his firm when Harris was named Biden’s running mate. Tax returns confirm one thing: both the first and second families could pay more taxes if Biden gets Congress to pass his massive American Family Plan educational and social spending package. Under current proposals, the plan would be funded in part by increasing the top tax rate for the wealthiest Americans. Those who earn less than $ 400,000 a year, according to Biden, would not see any increase.