Has Joe Biden Ever Made Over $400,000?

From Fakezap
By Bilal Aftab Usman September 12, 2020

In a recent meeting with members of the United Steelworkers Union, Democratic presidential nominee Joe Biden made some remarks regarding his proposed tax plan. Biden mentioned that no one making under $400,000 would be punished by the tax plan, adding “which is more money than I’ve ever made”. The remark occurred at 23:35 in the video of the event, covered by ABC News Live. The official Donald Trump YouTube channel uploaded a video of the clip with the title stating that Joe Biden had lied to the steelworkers about his income.

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We have recently covered claims related to Biden’s proposed tax plan and how they would affect households with an annual income below $400,000. Hence we will focus on the latter part of the claim that Joe Biden has never made over $400,000. We can refer to archives of presidential tax returns that have been released publicly to verify if Biden’s income has exceeded $400,000.

According to the tax returns, Biden’s adjusted gross income from 1998 to 2012 and from 2014-2016 has been below the $400,000 mark. It exceeded the threshold once in 2013 by $7,009. After this point, the income jumps significantly to 11 million in 2017 and 4.58 million in 2018.

The jump in income can be explained as Biden’s salary during his terms as senator and vice-president were fixed by law. After his second term serving as vice-president for Barack Obama, Biden was able to take part in lucrative speaking engagements and write several books, as noted on his financial disclosure form.

While Biden did have a salary below $400,000 for most of his career as a public servant, the claim that he has never made above $400,000 is false.

Tags: News, Politics, USA

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