The White House recently released President Joe Biden's financial disclosures, revealing he maintains 23 bank accounts holding between $250,000 and $1 million each, according to Radar Online.
The unveiling of Biden's finances, along with Vice President Kamala Harris', comes amid accusations from Republican lawmakers that Biden's family, including his son Hunter, has exploited his political power for personal gain.
The disclosures revealed that President Biden and First Lady Jill Biden's combined assets range from $1.05 million to $2.58 million across their bank accounts. The couple's liabilities were also included in the disclosure, showing a mortgage on their Delaware home amounting to between $250,000 and $500,000 and other loans ranging between $30,000 and $100,000.
The income of the First Family remained relatively stable compared to the previous year. Interestingly, the earnings from President Biden's past memoirs were revealed to be relatively modest. His 2007 memoir, "Promises to Keep," brought in just $201 in royalties. His memoir detailing his post-Obama administration experiences, "Promise Me, Dad," earned more, but the royalties were still relatively modest, falling between $2,501 and $5,000.
In contrast, Vice President Harris' financial situation appears more lucrative. The disclosures revealed that Harris and her husband Doug Emhoff's net worth is between $3.42 and $8.29 million. Their Brooklyn home mortgage holds a debt of between $1 and $5 million. Harris' 2019 memoir, "The Truths We Hold," earned her $41,000, and she received an advanced payment of $40,000 for her children's book, "Superheroes Are Everywhere," contributing to her total earnings of about $456,000.
The practice of releasing tax returns and financial disclosures has long been a tradition for presidents and presidential candidates, serving as a means of transparency for voters. Unlike his predecessor Donald Trump, who famously refused to release his financial records, Biden has continued this tradition since taking office.
When Trump's returns were eventually revealed, it was found that the former president paid no federal taxes in 2020 and only $750 in 2016 and 2017.