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Sep 10, 2022

How Much Is Joe Biden Receiving In Social Security Benefits?

     We don't have the figure just for the President but Joe and Jill Biden together received $54,665 last year from Social Security or about $4,555 per month.

7 comments:

  1. Is that surprising?

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  2. The article is misleading in several places. For example, it says there is a cap on benefits. There is no such cap. There is a cap each year on wages that are taxed for Social Security, and the amount of income taxed determines benefits. This leads to a maximum benefit (which depends on birth year). But it is not a cap on benefits. It is a maximum benefit resulting from caps on taxes. Calling it a cap on benefits makes it seem that rich people like the Bidens are getting a much worse deal than they are. The article also suggests that 85% of benefits are taxable for AGI plus half of Social Security above $34,000. That is where the 85% bracket begins, but you have to make a lot more to have 85% of total benefits taxed.

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    1. Well if the remove the taxable earnings cap, then it will become an actual benefit cap.

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  3. They could simply remove the taxable earnings cap and extend the 15% region, or create a new bend point and have a lower slope beyond it. In either case there would be no maximum benefit, but Social Security would benefit.

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    1. Not sure that would work. Would love to see the math on it though. It’s an interesting proposal.

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  4. How much are Donald Trump and Warren Buffett receiving?

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  5. Wouldn’t Biden be in CSRS, and therefore not part of Social Security, since he was a senator for 36 years, first becoming a federal employee in 1972?

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