Bernie Sanders earned $205,000 in 2014

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Earlier today I noted that someone who earns $200,000 pays an average federal income tax rate of 15 percent. Well, it turns out that Bernie Sanders is really, really average. He released his 2014 tax return tonight, and it reports that he had an adjusted gross income of $205,617 and total taxes due of $27,653. That’s 13 percent of his income.

Oddly, his return shows total wages of $156,441, even though US senators earn a minimum of $174,000. I’m not sure what the explanation for this is. He also shows charitable contributions of $8,350, which is 4 percent of his income. He’ll get some flak for that, I suppose, but I find all the showiness of politicians about their charitable donations to be tiresome. Whatever it is, it’s fine.

I just want to know why his reported wages were less than his official salary. Does the Senate pay less if you collect Social Security benefits?

UPDATE: In comments, machev suggests that Bernie contributes $17,500 to the federal equivalent of a 401(k). So his reportable income is $174K – $17.5K = $156.5K

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In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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