How much money is Biden’s Social Security Check each month? (Photo: CNN)
Even though they hold the highest offices in the country, Biden’s Social Security Check is his right as any American citizen over the age of 70.
So, how much money is Biden’s Social Security Check each month? This necessitates a review of the Bidens’ tax returns. Except for former President Donald Trump, most American presidents have publicly released their tax returns for American voters to use as a reference.
The Bidens began doing so a few years ago when the future president was first on the campaign trail, and their most recent joint 2021 filing is public record on the White House website. Line 6a of the 1040 form lists the total Social Security benefits received for the year. Biden’s Social Security Check has a total of $54,665 in their accounts. That costs about $4,555 or $2,277 per month for each spouse.
READ ALSO: Social Security Double Payment In March – Who Are Qualified?
How much money is Biden’s Social Security Check each month? (Photo: National Review)
This figure is significantly higher than the SSA’s average monthly benefit of $1,669 for retired workers. However, the Bidens are among the wealthiest people in the country, so it stands to reason that their benefits would reflect their high-earning status. According to Forbes, the couple earned approximately $22.5 million from 1998 to 2019, with a large portion coming from the Bidens’ book sales and other speaking engagements after leaving the White House in 2017. (when Joe Biden was then the vice president).
Surprisingly, Forbes notes that Biden’s Social Security Check benefits even before becoming Vice President in 2008 when he was 66. That was before he reached full retirement age, and the article stated that he was receiving about $6,500 from Social Security at the time. He received more benefits in 2009 when he reached the full retirement age of 67. According to Forbes, the Bidens received $385,000 in Social Security benefits between 2009 and 2019.
Their current earnings of $54,665 are also taxable — as noted on the Bidens’ 2021 tax filing, line 6b, $46,465 was recorded as taxable due to their high adjusted gross income, leaving 85% of their benefits subject to taxation per SSA rules.
As GOBankingRates recently reported, some experts expect there to be as much as a 10% jump in monthly checks if the Consumer Price Index keeps increasing the way it has, which is what the SSA uses to calculate the adjustments. If that is the case, Biden’s Social Security Check could bring in more than $60,000 a year in benefits in the future.
READ ALSO: Social Security Payment Schedule 2023: This March There Will Be 3 Social Security checks To Release
