The all-American working man demeanor of Tim Walz—Kamala Harris’s new running mate—looks like it’s not just an act.
Financial disclosures show Tim Walz barely has any assets to his name. No stocks, bonds, or even property to call his own. Together with his wife, Gwen, his net worth is $330,000, according to a report by the Wall Street Journal citing financial disclosures from 2019, the year after he became Minnesota governor.
With that kind of meager nest egg, he would be more or less in line with the median figure for Americans his age (he’s 60), and even poorer than the average. One in 15 Americans is a millionaire, a recent UBS wealth report discovered.
Meanwhile, the gross annual income of Walz and his wife, Gwen, amounted to $166,719 before tax in 2022, according to their joint return filed that same year. Walz is even entitled to earn more than the $127,629 salary he receives as state governor, but he has elected not to receive the roughly $22,000 difference.
“Walz represents the stable middle class,” tax lawyer Megan Gorman, who authored a book on the personal finances of U.S. presidents, told the paper.
For once a guy when the average voter says ‘they’re just like me!’ It’s actually true.
Maybe not the best idea to put people in charge that are obviously bad with money.
Love this logic. The dude is just a normal dude. He didn’t exploit his position and shake every penny he could out of his charges. So he’s bad with money.
Get a grip dude.
There is a huge difference in “exploiting his position” and being financially illiterate.
Not in the US. That’s how people get ridiculously rich. 100% of the time. Every time.
1 in 15 Americans is a millionaire?
Presses X to doubt
A millionaire doesn’t mean “Has $1 million in cash sitting in a checking account”. It just means your networth is at least $1 million. So like if you bought a shitty rundown starter home you’re half way there. A 401k you can touch for another 20-30 years could get you the rest of the way.
Dual income homeowners with healthy retirement funds. The fucked up thing is 1 million dollars isn’t that impressive anymore – you can easily spend that in retirement living a middle class lifestyle in the USA. Particularly when you factor in age related medical expenses and elder care.
It’s not like our retirement, healthcare, and elder care systems are catastrophically broken or anything.
The last time I looked up the stats, around 2015, 10% of US households (not individuals) had $1M, and 1% of households had $10M. The symmetry made it very memorable.
According to the census bureau ( https://www.census.gov/content/dam/Census/library/publications/2023/demo/p70br-183.pdf ) entry into the top 10% now requires $1.6M, which means that substantially more than 1-in-10 are millionaires. They’re mostly going to be married couples over 55.
You’re allowed to question things and other people are allowed to disagree with the downvote button. What’s the problem? Are you seriously trying to pretend you’re being cancelled because (checks notes) fewer than ten people disagree with you? That’s some persecution complex right there, that is.
It’s in his financial disclosures and it is literally a crime to lie in those. Why would he lie?
Just in hypothetical, if you have illicit earning, you probably won’t declare them.
Edit: this comment seems unpopular, but it has happened in the past. If somebody could tell me why it’s so wrong I would appreciate
That’s not how logic works. You don’t get to make a claim then demand to be disproven. The burnden of proof is on you, and if the best you have is “idk seems like it could happen” then you have fuck all
Million dollars is nothing much today. One can’t even retire with that kind of money. Housing/tuition/health care costs have outpaced earnings.
If that report is true Walz will have to work until he dies. That’s dumb. Bernie on the other hand is smart and has made money inspire of his very poor upbringing.
If someone is earning 100k+ and doesn’t have to pay for housing, food, medical bills, and transportation (like the governor)but still can’t save. Yes that is dumb.
