Category Archives: Politics

Joe Biden net worth: An estimated $9 million!

It is everyone’s interest to know U.S President Joe Biden’s wealth following the last Presidential Elect President Donald Trump (Business Insider, 2020), “the 77-year-old has touted himself as “Middle-Class Joe” for decades but he and his wife, Jill, have a net worth of $9 million, according to a Forbes estimate from July 2019.


According to business insider, “the couple’s fortune is mostly tied to public speaking engagements and book royalties, according to tax returns and financial disclosure released by the Biden campaign and published on the campaign’s website”, Joe Biden has indeed earned his living (2020). Presidents are most often under scrutiny for financial litigations.

References


Business Insider.2020. From ‘Middle-Class Joe’ to millionaire: Joe Biden is worth an estimated $9 million. Here’s a look at the lifestyle, finance, and real-estate portfolio of one of the leading Democratic presidential candidates.

The U.S presidential elections and economic policy.

Both the U.S presidential candidates of 2020 have big differences when it comes to economic policy,(Vecchio,2020) “while a Trump administration would likely continuation of lower tax rates, a Biden administration might bring about the end to trade wars”, the other seems to be socialist while the other appears to be capitalist. Perhaps U.S voters amidst the coronavirus and a bad economic condition are willing to elect a socialist candidate this year as the election race tightens.


Whether the financial markets have priced in the impact of the coronavirus amidst global central banks stimulus packages and quantitative easing remains a question. The U.S 2020 election will determine the direction of the economy and the markets, according to Vecchio “there may be some agreement in terms of trade or infrastructure, Trump and Biden diverge on nearly every other economic policy facet- from taxes, to jobs, to the coronavirus pandemic recovery itself”, all remain skeptical (2020). Trump is surely to open the economy if he is elected and as for Biden, the economy is likely to remain closed. A closed economy means a slow economic recovery and the continuation of the trade war also means the economy would not reach its full potential.


References


Christopher Vecchio.2020. Trump versus Biden policies overview Dailyfx