Tax Day reveals a major split in how Joe Biden and Donald Trump would govern
Tax Day reveals a major split in how Joe Biden and Donald Trump would govern: The presidential candidates have conflicting ideas about how much to reveal about their own finances and the best ways to boost the economy through tax policy
WASHINGTON — Tax Day reveals a major split in how Joe Biden and Donald Trump would govern: The presidential candidates have conflicting ideas about how much to reveal about their own finances and the best ways to boost the economy through tax policy.
Biden, the sitting Democratic president, released his income tax returns on the IRS deadline of Monday. Filing jointly with his wife, Jill, he reported gross income of $619,976 and paid a federal income tax rate of 23.7%.
On Tuesday, Biden is scheduled to deliver a speech in Scranton, Pennsylvania, about why the wealthy should pay more in taxes to reduce the federal deficit and help fund programs for the poor and middle class.
Biden is proud to say that he was largely without money for much of his decades-long career in public service, unlike Trump, who inherited hundreds of millions of dollars from his father and used his billionaire status to launch a TV show and later a presidential campaign.
“For 36 years, I was listed as the poorest man in Congress,” Biden told donors in California in February. “Not a joke.”
In 2015, Trump declared as part of his candidacy, “I'm really rich.”
The Republican former president has argued that voters have no need to see his tax data and that past financial disclosures are more than sufficient. He maintains that keeping taxes low for the wealthy will supercharge investment and lead to more jobs, while tax hikes would crush an economy still recovering from inflation that hit a four-decade peak in 2022.
“Biden
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