- September 29, 2020
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President Trump’s opponent Joe Biden has released 2019 Tax Returns
Listen to this articleUS President Donald Trump’s opponent Joe Biden has released his 2019 tax returns. It indicates Democratic presidential nominee Joe Biden paid around $288,000 in federal income taxes in 2019. Biden released tax returns just hours before the 1st presidential debate with President Donald Trump. The recent move came amid a report from The New York Times. The report says President Trump paid just $750 in income taxes in 2016 and 2017. Biden and his wife, Jill, along with Biden’s running mate, California Sen. Kamala Harris released their 2019 federal and state returns as the president contends with the political fallout from a series of Times reports about Trump’s long-hidden tax returns.
The NYT also reported President Trump didn’t pay any kind of income tax at all in 10 of the 15 years prior to 2017. The report says Biden paid $287,693 to the federal government in 2019. It shows a significant amount of decline from $1.5 million they paid in income taxes in 2018. The drop was supposedly due to a decline in revenue from Biden’s book, his decision to run for the presidency, and a leave of absence from his academic post at the University of Pennsylvania in Philadelphia. It is noteworthy that Biden’s family paid $3.7 million to the government in 2017.
It was his last year as vice president in the Obama administration after paying $91,000 in 2016. Point to be noted that Biden received a large amount of income from book deals. The campaign of Joe Biden has moved aggressively to capitalize on The NYT reports regarding a tiny tax payment from the US President Donald Trump. Biden campaign also released a media ad showing nurses, firefighters, and other working-class Americans pay far more in annual federal taxes than the $750 Trump tax payments reported by The NYT. President Trump has rejected the Times report. He declared it as Fake News at a press conference.
