It’s no secret that Joe Biden’s new tax plans are set to re-shape the economic outlook of America. In short, his ‘Build Back Better‘ policy has been labeled as socialist, intervening, and an attack on The American dream. So, whilst Biden has no problem taxing America’s higher earners and companies, what about the man himself? Whilst he’s quick to call himself “Middle-class Joe”, it turns out that after doing some research, he is actually far from middle-class. In fact, he is closer to the supposed 1% that he is supposedly going after through harsh taxation policies.
Perhaps one of the biggest status symbols in his life is his Rehoboth Beach beach house in Delaware. This was recently valued at $2.7 million, which is not bad for a vacation home. Boasting three floors, vast amounts of land and trees for privacy, it looks to be about as far away from the rest of humanity as possible. But remember, he is a man of the people, apparently.
He also has two more properties in Delaware, one being his main residence as well as a fourth home in Virginia. According to Town and Country Mag, his real estate portfolio is worth over $4 million dollars. Again, this doesn’t really sound particularly middle class at all. What’s even more interesting is that some of these properties were purchased as far back as when Biden was in his 20s which says it all.
Another example of his wealth can be seen with his lavish watch collection. This includes luxury brands such as Rolex and Omega and is worth well over $70,000. Looking through his personal collection, it seems far from ordinary and closer to that of a celebrity or oligarch.
However, it was after leaving office as Obama’s Vice President where Biden made the bulk of his wealth. According to this Forbes article, he made over $11 million in 2019 alone. For most of his previous career as a politician, he received a set salary of around $200-400,000 per year. The reason for his jump in wealth was due to high profile book deals and public speeches worth well over $100,000 per time.
Ironically, under his new tax laws, he would only see roughly 60% of that $11 million, which would be considerably higher than when he actually earned his fortune, with the Donald Trump administration running America at the time.
This is a clear example of hypocrisy from Biden, who is happy to earn literally millions in one year – yet still heavily taxes those who are doing so right now. As we have seen countless times down the years, numerous Democrat leaders from the Clinton’s to the Obama’s, have also cashed in massively by doing speeches. For instance, Bill Clinton once did one speech worth $750,000. Some have argued that this is a form of corruption in which corporations pay back politicians for previous favors whilst in office. However, the self-acclaimed “Poorest man in Congress”, Joe Biden would never do that…right?