Biden's Tax Returns

[Appa23]

Joe Biden released his tax returns today. I am not sure why, especially the day after the candidates spoke about people giving of themseves and helping others.

A quick glimpse shows income of $1.35 million for the past five years, and charitable contributions of only $2395 total, with the most being $995 last year (when he was running for President). Otherwise, his standard yearly contribution was $380.

So, is this a problem, or does Biden know that bigger skeletons are hiding in the Palins' returns?

Do you care how much a candidate gives to charity? Is this much ado about nothing?

"Betty in Scranton -- you're on Larry King Live."

[minimetoo26]

Is that income a total, or yearly?

[Appa23]

Is that income a total, or yearly?

Sorry. The figures are both totals for the last five years.

The Bidens made approximately $320,000 (2007), $250,000 (2006), $321,000 (2005), 234,000 (2004), and $231,000 (2003).

The Bidens gave $995, $380, $380, $380, and $260 to charity.

[minimetoo26]

Is that income a total, or yearly?

Sorry. The figures are both totals for the last five years.

The Bidens made approximately $320,000 (2007), $250,000 (2006), $321,000 (2005), 234,000 (2004), and $231,000 (2003).

The Bidens gave $995, $380, $380, $380, and $260 to charity.

Okay, so how many of those people who were on the stage at the convention were his dependents? (I'm really asking for information, not sarcasm. I don't really know, and this stuff makes a difference.)

[Appa23]

Is that income a total, or yearly?

Sorry. The figures are both totals for the last five years.

The Bidens made approximately $320,000 (2007), $250,000 (2006), $321,000 (2005), 234,000 (2004), and $231,000 (2003).

The Bidens gave $995, $380, $380, $380, and $260 to charity.

Okay, so how many of those people who were on the stage at the convention were his dependents? (I'm really asking for information, not sarcasm. I don't really know, and this stuff makes a difference.)

I saw an article. As I recall, his youngest child (Ashley?) stopped being claimed around 2004-05.

Does that make a difference to you?


P.S. It was 2003. Here is an article:

http://www.cbsnews.com/blogs/2008/09/12 ... 5194.shtml

(I am sure that lower middle class voters will be glad to know that $240,000 is a "modest income".)

[Oral B Roberts]

I don't recall receiving a check from the Bidens, even for some pitiful three digit amount. I don't think it will help his campaign much if people see him being followed by a horde of locusts.....

[minimetoo26]

Sorry. The figures are both totals for the last five years.

The Bidens made approximately $320,000 (2007), $250,000 (2006), $321,000 (2005), 234,000 (2004), and $231,000 (2003).

The Bidens gave $995, $380, $380, $380, and $260 to charity.

Okay, so how many of those people who were on the stage at the convention were his dependents? (I'm really asking for information, not sarcasm. I don't really know, and this stuff makes a difference.)

I saw an article. As I recall, his youngest child (Ashley?) stopped being claimed around 2004-05.

Does that make a difference to you?

Yep. I couldn't tell you how much we claim in charitable deductions, honestly, but it's not enough to set off the red flags at tax time. And we earn more. But we have four kids who live at home and still need to go to college and whatnot. So it's all relative.

[themanintheseersuckersuit]

Mrs. Palin's financial disclosure forms from Alaska are here

http://aws.state.ak.us/apocinterim/pofd ... name=palin

[peacock2121]

Joe Biden released his tax returns today. I am not sure why, especially the day after the candidates spoke about people giving of themseves and helping others.

A quick glimpse shows income of $1.35 million for the past five years, and charitable contributions of only $2395 total, with the most being $995 last year (when he was running for President). Otherwise, his standard yearly contribution was $380.

So, is this a problem, or does Biden know that bigger skeletons are hiding in the Palins' returns?

Do you care how much a candidate gives to charity? Is this much ado about nothing?

"Betty in Scranton -- you're on Larry King Live."

I don't care.

really

[TheConfessor]

Just speaking hypothetically, he might have given millions of dollars to charitable causes, but never publicized it. There's no law saying that you have to report all of your charitable deeds to the government. You only need to report it if you want the government to subsidize your gifts to charity. If I drop a buck into the Jerry Lewis collection jar at the 7-11, I don't think the government needs to know about it, and I don't write it off on my taxes.

[frogman042]

Just speaking hypothetically, he might have given millions of dollars to charitable causes, but never publicized it. There's no law saying that you have to report all of your charitable deeds to the government. You only need to report it if you want the government to subsidize your gifts to charity. If I drop a buck into the Jerry Lewis collection jar at the 7-11, I don't think the government needs to know about it, and I don't write it off on my taxes.

But the real question is do you let James know about it?

---Jay

[minimetoo26]

Just speaking hypothetically, he might have given millions of dollars to charitable causes, but never publicized it. There's no law saying that you have to report all of your charitable deeds to the government. You only need to report it if you want the government to subsidize your gifts to charity. If I drop a buck into the Jerry Lewis collection jar at the 7-11, I don't think the government needs to know about it, and I don't write it off on my taxes.

I know I've lost a bunch of those receipts they put on your door (or the lazy guys just put on the mailbox) when they pick up stuff, and there's also a limit to what you can deduct before your tax guy starts looking nervous and checking the IRS codes reeeaaalll closely. It might just be all he had receipts for or wanted to deduct, as Ed just said.

[Appa23]

Just speaking hypothetically, he might have given millions of dollars to charitable causes, but never publicized it. There's no law saying that you have to report all of your charitable deeds to the government. You only need to report it if you want the government to subsidize your gifts to charity. If I drop a buck into the Jerry Lewis collection jar at the 7-11, I don't think the government needs to know about it, and I don't write it off on my taxes.

I know I've lost a bunch of those receipts they put on your door (or the lazy guys just put on the mailbox) when they pick up stuff, and there's also a limit to what you can deduct before your tax guy starts looking nervous and checking the IRS codes reeeaaalll closely. It might just be all he had receipts for or wanted to deduct, as Ed just said.

Just to clarify, IIRC, except in 2007, the Biden's do not claim non-cash gifts (like where you get a receipt on your door knob for leaving stuff at the curb.)

These were check ("cash") donations, perhaps to their church.

[silverscreenselect]

Joe Biden released his tax returns today. I am not sure why,

He's lonely and needs some attention. Next week, he's entering a bridge tournament with the Maytag repairman.

[TheConfessor]

Joe Biden released his tax returns today. I am not sure why,

He's lonely and needs some attention. Next week, he's entering a bridge tournament with the Maytag repairman.

Are you saying he supports the Bridge Tournament to Nowhere?

[Here's Fanny!]

Just speaking hypothetically, he might have given millions of dollars to charitable causes, but never publicized it. There's no law saying that you have to report all of your charitable deeds to the government. You only need to report it if you want the government to subsidize your gifts to charity. If I drop a buck into the Jerry Lewis collection jar at the 7-11, I don't think the government needs to know about it, and I don't write it off on my taxes.

I know I've lost a bunch of those receipts they put on your door (or the lazy guys just put on the mailbox) when they pick up stuff, and there's also a limit to what you can deduct before your tax guy starts looking nervous and checking the IRS codes reeeaaalll closely. It might just be all he had receipts for or wanted to deduct, as Ed just said.

Just to clarify, IIRC, except in 2007, the Biden's do not claim non-cash gifts (like where you get a receipt on your door knob for leaving stuff at the curb.)

These were check ("cash") donations, perhaps to their church.

Assuming that he is not being the Anonymous Benefactor,

From what I understand, the IRS now requires that you have a receipt for every single donation in order to crack down on the vague 'charitable contributions' deduction. I suppose that probably the vast majority of people don't actually have a receipt for the ten spot they tossed in the tray every week, but they claim it anyway.

Maybe Biden's tax people only claim what actual receipts and figures that are given to them by their clients.

Personally, that would make me more inclined toward him. Either it shows he's honest (or has an honest tax preparer) and only claims deductions for which he has proof, or he gives what he gives because he wants to and not just 'for show'.

Your money, your business. Save, spend or give away as you see fit.