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Donald Trump suffered a crushing blow today, as the New York Times obtained copies of his tax returns. According to the documents, the President paid just $750 (£583) in federal tax in 2016 and 2017, due to reports of significant financial losses. The resulting commotion has shattered the stable billionaire image he has cultivated throughout his career and brought yet another controversy to the White House.

How much does Joe Biden pay in taxes?

The latest controversy has provided a chance for Democrat candidate Joe Biden to cultivate political capital, allowing him to frame himself as the financially competent candidate.

While Mr Trump has shied away from releasing his tax returns, due in part to an ongoing IRS dispute, Mr Biden has not.

The candidate has released 21 years of his tax returns, showing how much his household pays annually.

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His tax documents show the amount he and his wife, Dr Jill Biden, paid a total of $3,742,974 (£2.9 million) in 2017.

The couple earned roughly $11 million (£8.56 million) during the year, nearly double their total earnings between 1998 and 2016.

Their income may seem incongruent for an educator and politician, but they owe the amount to ventures in the private sector.

Mr Biden, in particular, saw a lucrative year thanks to a book deal and speaking engagements.

Tax notes for Kamala Harris show she paid $516,469 (£401,885) in 2017, nearly 100 times Mr Trump.

Senators Bernie Sanders and Elizabeth Warren paid a total of $343,882 (£267,603) and $268,484 (£208,930) respectively.

Joe Biden was quick to put the disparity between his and Mr Trump’s taxes front and centre of his campaign.

His staff quickly put together a new video highlighting the fact.

The 30-second short released today and reveals traditional job-specific incomes and total taxes paid annually.

The campaign revealed a typical American teacher pays $7,239 (£5,703) in taxes per year, according to data from 2019.

Firefighters pay the least of the people featured in the ad, with roughly $5,000 (£3,890) per year.

Construction managers pay the most, at $16,447 (£12,798), and registered nurses pay slightly less at just over $10,000 (£7,781).



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