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Joe Biden's net worth is only 100-150K at age 65, with a good income... where'd all the money go?

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Levgreee Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:33 PM
Original message
Joe Biden's net worth is only 100-150K at age 65, with a good income... where'd all the money go?
Edited on Mon Sep-01-08 03:45 PM by Levgreee
He has a made a large chunk of money so the money had to be spent/given to something. Perhaps he gave a lot to relatives?


Here is a summary of his assets.

http://www.iht.com/articles/ap/2008/08/24/america/CVN-Biden-Finances.php

So far the only major expenses I can think of is paying for college for 4 kids, and medical expenses for his aneurysms, and for his sons that were in a car accident with his first wife.

Any thoughts?
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im1013 Donating Member (527 posts) Send PM | Profile | Ignore Mon Sep-01-08 03:35 PM
Response to Original message
1. Well GEEEEZ!!!
How much would you have left after all of that?!?!?



:wtf:
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goodgd_yall Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 09:33 PM
Response to Reply #1
39. That's what I was thinking.
Sounds like enough to explain the slim assests.
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Thrill Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:36 PM
Response to Original message
2. All what money? He isn't making much money
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Boojatta Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:37 PM
Response to Original message
3. Why does he need assets?
Doesn't the Senate provide adequate retirement benefits?
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vegansrule Donating Member (90 posts) Send PM | Profile | Ignore Mon Sep-01-08 03:37 PM
Response to Original message
4. He has NOT made a large chunk of cash....
He's been a life long legislator, and never inherited a penny.

He's got college bills for his kids, medical expenses for the boys, a home for him and one for his mother, plus he has given to charity and to causes and campaigns.
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Lucinda Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:39 PM
Response to Reply #4
8. Nicely said!
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Levgreee Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:50 PM
Response to Reply #4
16. 180k a year is a pretty large chunk imo
Edited on Mon Sep-01-08 03:54 PM by Levgreee
"Biden has taught law on Saturday mornings at Widener University since 1991. His income is his $165,200 Senate salary and $20,500 from teaching."

http://biden.senate.gov/press/in_the_news/news/?id=da295ea8-7dff-4902-99d4-6eb880a6f79d

And he has been a senator for 25 years or so, I think. So that would be several million earned.
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MadBadger Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:10 PM
Response to Reply #16
21. Yes, and he spends no money whatsoever
lol
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JerseygirlCT Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:43 PM
Response to Reply #16
30. Not huge by any means
with kids to educate and other family to care for.

Remember what the COL and especially housing costs run in the Northeast.

185k in the middle of the country is pretty nice. It's not big money out east. Nice money, but not big money.

And have you priced Amtrak lately, lol? The guy is probably their most regular customer.
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XOEnterprises Donating Member (99 posts) Send PM | Profile | Ignore Mon Sep-01-08 04:50 PM
Response to Reply #16
34. You're making the assumption that he's made that much his entire Senate career.
I would imagine that the Senate pay, like all other federal pay, has increased at least once during that time. While yes, he probably has made $3-4 million during his career, for reasons stated elsewhere (education for his children, the mortgage, his mother's home, the expense of taking the train to and from DC) has most likely eaten up most of that.
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whatchamacallit Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:38 PM
Response to Original message
5. That can't be right
:wtf:

But on the bright side, it's really refreshing to have a VP nominee who isn't a multimillionaire or billionaire
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cali Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:45 PM
Response to Reply #5
32. it is right, and btw, both of my senators are no wealthier and have no more in
the way of assets than biden. that would be Leahy and Sanders, btw.
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whatchamacallit Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 05:35 PM
Response to Reply #32
35. You mean... real public servants... not revolving door lobbyists and opportunists?
I had gotten used to the idea that you only served in government to feather your nest. You've brought me hope:patriot:
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BeyondGeography Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:39 PM
Response to Original message
6. I dunno, did he buy any food and shelter for those kids over the last 35 years?
Take any trips?

:dunce:
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Lucinda Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:40 PM
Response to Reply #6
9. No. They live on clean air alone up there in Delaware.
:rofl:
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sarge43 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:42 PM
Response to Reply #9
13. Nah, they work at tolls booths and take a percentage off the top. n/t
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Lucinda Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:09 PM
Response to Reply #13
20. Naw....That cant be enough...2 dozen people live in Delaware
and The Bidens account for at least half of em.
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sarge43 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 09:30 PM
Response to Reply #20
38. Yeah, but there's all those people that get caught
driving thru, trying desperately to go somewhere else.
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LibraLiz1973 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:39 PM
Response to Original message
7. Paying for college for the THREE children (his fourth child is no longer with us)
Probably put a big ol dent in it.
For all we know, his house is also paid off & thats where the bulk of his money went.
Either way, I find it REFRESHING to see that he isn't made of money & knows how to work
for the people without profiting from million dollar kickbacks all the time.
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NYC_SKP Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:41 PM
Response to Original message
10. I'm sure you have a "most excellent" purpose in posting your query...
Seriously, why are you bringing this here?

I have no kids, make a decent living in the 60-80 K range, and have no savings.

Joe is pretty average, I'd say that the fact that he isn't rolling in dough tells us something positive about his integrity and where his interests lay.

Maybe he's not taken any bribes.
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WeDidIt Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:41 PM
Response to Original message
11. Where's all the money YOU made in your life?
Electric Bills
Gas Bills
Car payments
Interest on the Mortgage
College tuition for the kids.
Charitable donations.

Give the guy a break. He's upper middle class and never inherited a dime.

HE's like YOU!
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blogslut Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:42 PM
Response to Original message
12. Are you kidding?
Seriously, are you?
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BlooInBloo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:42 PM
Response to Original message
14. Fail.
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JohnnyLib2 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:44 PM
Response to Original message
15. This forum needs an irony smilie.

badly
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BumRushDaShow Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 03:56 PM
Response to Original message
17. Biden has lived in the same house for 30 years.
The Senate was originally envisioned to be the equivalent to the "House of Lords", with wealthy white landowners (men) who could take the time to chew on issues and pontificate about high-minded ideals for hours on end. And many owned/headed business or were involved in banking and came into the job with significant assets.

Contrast this with Biden who came into the Senate at a relatively young age... and barely out of law school, began a career in government.
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KT2000 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:00 PM
Response to Original message
18. The better question is
how did all the others get so rich??
Speaking fees, under the table "contributions," fortuitous investments?
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justiceischeap Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:04 PM
Response to Reply #18
19. Bingo!
From what I heard Biden had to mortgage his home to pay his last kids' college debts.

As far as the OP question—I'd say Joe hasn't taken money from special interests and he doesn't do speaking engagements because, maybe, just maybe, he's a family man and rather enrich himself that way.
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Levgreee Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:12 PM
Response to Reply #19
22. not taking money from special interests or speaking engagements regardless, he has had a 6 figure
income for over 25 years.
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hedgehog Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:17 PM
Response to Reply #22
25. Well, I heard that early next week, Joe Biden is finally going to come clean
about his Beany Baby obsession!
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justiceischeap Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 05:41 PM
Response to Reply #25
36. Now see that's how rumors get started... it's actually a thimble collection. (eom)
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Left Is Write Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 05:43 PM
Response to Reply #22
37. No. He hasn't.
A US Senator's salary didn't even break the six-figure mark until 1991.

Have you got a point with this thread?
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depakid Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:12 PM
Response to Reply #18
23. Apparently, the Sunday shows don't pay so well
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Boojatta Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:15 PM
Response to Original message
24. 100 K to 150 K is a lot of money. Where is it going to go?
Maybe you should send him a copy of the book Die Broke: A Radical Four-Part Financial Plan by Stephen Pollan, Mark Levine. You could include a self-addressed, stamped envelope and a request for some money.
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smoochpooch Donating Member (688 posts) Send PM | Profile | Ignore Mon Sep-01-08 04:20 PM
Response to Original message
26. Train fare!!!!!!
:)
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kestrel91316 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:41 PM
Response to Reply #26
29. That's what I was gonna say, lol!
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azmouse Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:22 PM
Response to Original message
27. Disappointed that you can't call him 'elitist' because he's not rich.... like McBush?
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ChimpersMcSmirkers Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:25 PM
Response to Original message
28. I'm pretty sure it all went to Meth and young, male prostitutes.
Is that the answer you were looking for?
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kestrel91316 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:44 PM
Response to Original message
31. You wouldn't perhaps be trying to imply that, because he's not
a greedy, money-worshipping oil baron and tax cheat that he's not qualified for office, are you?

Nah, nobody would ever show up here and do that, would they????

:sarcasm:
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bunnies Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 04:47 PM
Response to Original message
33. Nine months without a pizza?!
Good for you. Thats got to be close to a record.
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AnnieBW Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-01-08 10:34 PM
Response to Original message
40. AmTrak Tickets!
Commuting from Wilmington to DC and back every day gets to be expensive!
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