President Joe Biden and his wife Jill Biden recorded a gross yearly income of roughly $600,000, while US Vice President Kamala Harris and her spouse Doug Emhoff claimed a gross annual income of around $1.7 million.
The majority of Harris and Emhoff's income - twice as much as Bidens' - did not come from their wages. Harris claimed to earn $452,664 as a writer, plus an additional $319,000 from the sale of a property in San Francisco with her spouse.
In terms of pay, Harris received $215,548 as vice president, and her husband made $164,740 as a Georgetown University professor. Emhoff also earned $582,543 as a lawyer at DLA Piper and Venable, which he departed when Harris was appointed vice president.
The Bidens' salary, on the other hand, provided the majority of their income. Jill Biden received $67,116 from her teaching position at Northern Virginia Community College, where she teaches English and writing, while President Biden made $378,333 from his presidential pay.
The Bidens paid federal taxes of $150,439 and state taxes of $30,765 in their home state of Delaware. Harris and her spouse owe the federal government $523,371.
The Biden-Harris administration's public disclosure of income and taxes paid contrasts sharply with previous President Donald Trump, who never revealed his taxes. Trump paid no income tax in 11 of the 18 years for which the papers were studied, according to Outlook.
How VP Kamala Harris Achieves Her Net Worth?
Kamala Harris is an American politician and Vice President of the United States. From her position as President Joe Biden's right hand, Kamala gets a yearly salary of $157,000 with her approach toward drug offenders in the office. She rose through the ranks to become California's 32nd Attorney General from January 2011 to January 2017 before announcing her desire to run for president in 2020.
Kamala Harris served as the deputy district attorney of Alameda County, California, from 1990 until 1998. Kamala's net wealth was listed as $3.31 million in a 2015 Congressional finance form. Her spouse, Douglas Emhoff, a partner at the DLA Piper Law Firm with offices in California and Washington, DC, is responsible for the great bulk of her net wealth.
While campaigning for the Democratic Party candidacy in 2019, Kamala Harris revealed 15 years of tax filings. The majority of Harris and her husband's fortune came from their activities in 2018, according to the report, with the couple earning $1.9 million. Her husband's wages provided $1.4 million of the $1.9 million total.
The couple paid $697,000 in taxes and donated $27,000 to charity during that time. Kamala made over $320,000 from her book 'The Truths We Hold,' according to financial filings from 2019. Kamala has $2.5 to $6 million in assets, while the couple has around $3 million in liabilities, largely in mortgages.
The majority of the couple's liquid assets are invested in retirement accounts and mutual funds. Before their mortgage obligations, the couple had a sizable real estate portfolio worth $8 million to $10 million. Doug put $2.7 million into their house in California's Brentwood suburb two years before they tied the wedding. The home is presently valued at around $5 million, as per Finty.
Kamala Harris Achievements
Kamala D. Harris was sworn in as the Vice President of the United States of America on January 20, 2021, becoming the first woman, the first African American woman, the first Indian-American, the first person of Asian-American origin, and the first graduate of an HBCU.
Harris was born on October 20, 1964, in Oakland, California, to immigrant parents. Her mother is from India, while her father is from Jamaica. Harris and her younger sister Maya were reared by their single mother, Shyamala Gopalan Harris, after their parents split.
Harris went to Howard University, an HBCU in Washington, DC, after high school. She then went to the University of California Hastings College of the Law in San Francisco to get her law degree. She started working for the Alameda County District Attorney's Office. Harris was elected as the City and County of San Francisco's District Attorney in 2003.
Harris was elected as the first African American and first woman Attorney General of California in 2010. She married lawyer Doug Emhoff and became stepmother to his two children as Attorney General.
She was elected as a Senator representing California in 2016, becoming just the second African American woman to serve in the US Senate. Harris served on two major Senate committees during her time in the Senate: the Intelligence Committee and the Judiciary Committee.
Harris announced her candidacy for President of the United States in 2019. While she did not win the Democratic primary, she demonstrated that she was capable of playing a greater role in American politics, Blavity reported.
