Joe Biden scored $16 million in income after leaving White House ... but where did it go?
The Democratic nominee's latest federal financial disclosure report lists less than $3.5 million in assets after a major windfall.
By Daniel Payne
Updated: October 22, 2020 - 3:04pm
Joe Biden's personal finances — at least as he lists them publicly for voters — don't add up.
The politician who reveled in the moniker "Middle Class Joe" carried a relatively modest portfolio during 47 years in public office. But he scored a $16 million-plus windfall after he left the Obama White House. That includes $11 million he and his wife Jill earned in 2017, mostly on book and speaking fees, $4.6 million in 2018 and $985,000 last year, according to tax returns he made public earlier in the election.
But when he filed a federal financial disclosure form earlier this year to run for president, the Bidens listed only assets of between $1.5 million and $3.2 million. And that invites the question: Where did the rest of the money go?
"I can guarantee you if I was auditing those forms, I'd have questions," says Paul Miller, the owner of New York-based tax firm Miler & Company LLP.
Part of the answer comes from the limitations of the form. The Bidens, like all candidates, don't have to list on the disclosure report their personal home in Wilmington, Del., against which for a long time they carried a mortgage and line of credit, totaling between $750,000 and $1.5 million, according to Biden's last financial disclosure form when he served as vice president in 2016. The current form shows those debts have been paid.
The Bidens also reported making more than $1 million in charitable contributions, including to the United Jewish Federation of Chicago, the Kingswood Community Center, $100,000 to Biden's own foundation and $150,000 to the foundation named for his late son, Beau.
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https://justthenews.com/accountability/political-ethics/bidens-financial-disclosures-appear-indicate-millions-dollars
