Newly released financial documents showed Former Vice President Joe Biden earned $15.6 million since he left office in 2016. Being rich in an era of left-wing anger toward the wealthy, might hurt his ‘Middle-Class Joe’ persona.
Leave it to a CNN columnist to rush to Biden’s rescue.
University of Southern California economics professor Edward McCaffery wrote a CNN op-ed July 11 attempting to downplay any criticism of the Democratic presidential frontrunner’s wealth.
Wouldn’t want Biden to seem like a wealthy elite.
“The Bidens' tax returns are actually quite ordinary in one important way. Like almost all middle-class Americans, the Bidens paid tax at the ‘ordinary income’ tax rate, which applies to ‘ordinary’ things like wages,” McCaffery stated.
He complained that the super wealthy don’t pay ordinary income tax.
“Real billionaires do not pay ordinary taxes,” he continued before promoting calls from billionaires like Warren Buffett and others for higher taxes on billionaires
McCaffery also attacked President Donald Trump over taxes saying, “Of course President Trump, who has acknowledged not paying any taxes at all in many years, and his son-in-law Jared Kushner, whom reporting suggests is a proud member of the no-tax club, already knew this. Nothing ordinary there.”
The op-ed didn’t specify that Biden’s income includes a government pension in addition to his book deal and speech money. Biden is guaranteed approximately $250,000 per year for a lifetime in pension money as a former vice president.That means some portion of Biden’s millions was tax-payer cash.
In contrast to the CNN op-ed trying to protect Biden's ordinary guy image, NPR ran the story: 'Middle Class Joe' No More: Biden Earned $15 Million Since Leaving Office” on July 9. It quipped, “Former Vice President Joe Biden has referred to himself as ‘middle class Joe’ throughout his political career, and used to regularly joke about being the ‘poorest person on Congress.’ Those terms no longer apply.”
NPR continued, “The documents show Biden has earned far more than the rest of the 2020 presidential field, with the likely exception of billionaire Tom Steyer, who entered the race Tuesday.”
This wasn’t the first time liberal media downplayed the wealth of liberal politicians for political reasons.
In 2004, then-Senator John Kerry and his wife were worth approximately well over $1 billion when he ran for president. Not only did the liberal media either ignore or downplay Kerry’s wealth, but in 2012, they attacked Republican candidate Gov. Mitt Romney for being a millionaire.
Typical.
