Reported assets of $3.2 million after $16 million windfall
Joe Biden’s financial disclosures showing he reaped a $16 million windfall when he concluded his second term as vice president while declaring assets of between $1.5 million and $3.2 million raises an obvious question.
Where did all the money go?
Just the News reported Biden’s tax returns show he and his wife Jill earned $11 million in 2017, mostly on book and speaking fees, $4.6 million in 2018 and $985,0009 last year.
But when he filed a federal financial disclosure form earlier this year to run for president, Just the News pointed out, the Bidens listed assets only of between $1.5 million and $3.2 million.
Paul Miller of the tax firm Miller & Co. LLP, told JTN that if he were auditing Biden, there would be “questions.”
Miller estimated the Bidens should have listed about $9 million in assets in their most recent disclosure forms.
“I am unable to document what he did with the difference of approximately $6 million. What else are we missing?” he asked.
There is some vagueness in the federal disclosure forms. JTN noted.
“The Bidens, like all candidates, don’t have to list on the disclosure report their personal home in Wilmington, Del., against which for a long time they carried a mortgage and line of credit, totaling between $750,000 and $1.5 million, according to Biden’s last financial disclosure form when he served as vice president in 2016. The current form shows those debts have been paid.”
And they reported donations of $100,000 to Biden’s foundation, $150,000 to a foundation named for his son Beau and other contributions.
Miller said it was “odd” that a Delaware beach house purchased in 2017 for a reported $2.7 million and a Wilmington house were not disclosed.
There was no comment from the campaign.
JTN noted the Biden family’s financial records have come under greater scrutiny since the bombshell New York Post story last week presenting evidence that Joe Biden personally profited from Hunter Biden’s efforts to leverage access to his father during Biden’s term as vice president.
