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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDoes New Speaker of the House Mike Johnson Have a Bank Account?
https://www.thedailybeast.com/does-new-speaker-of-the-house-mike-johnson-have-a-bank-account?ref=home
Does New Speaker of the House Mike Johnson Have a Bank Account?
Speaker Mike Johnson has never listed a bank account on his financial disclosure. In fact, on his newest disclosure he doesn’t list a single asset at all.
Roger Sollenberger
Senior Political Reporter
Published Nov. 01, 2023 4:50AM EDT
snip//
Over the course of seven years, Johnson has never reported a checking or savings account in his name, nor in the name of his wife or any of his children, disclosures show. In fact, he doesn’t appear to have money stashed in any investments, with his latest filing—covering 2022—showing no assets whatsoever.
snip//
House Ethics Committee filing guidelines state that members must disclose bank accounts they have at every financial institution, as long as the account holds at least $1,000 and the combined value of all accounts—including those belonging to their spouse and dependent children—exceeds $5,000.
The rules cover all “interest-bearing, cash-deposit accounts at banks, credit unions, and savings and loan associations,” including checking, savings, and money market accounts, along with certificates of deposit and individual retirement funds, or IRAs. (Johnson reported receiving a $10,485.53 distribution from a New York Life IRA in 2017, his first year in office, possibly from a retirement account he had listed the previous year.)
It’s certainly not uncommon for Americans to have less than $5,000 in their bank account. Most Americans—57 percent—couldn’t handle an unexpected $1,000 expense, according to a report earlier this year. And the median amount that Americans keep in their bank account is $5,300. But Johnson’s household income puts him in the top 12 percent of earners in the United States. And it’s extraordinarily rare for members of Congress to not list a qualifying bank account—let alone zero assets whatsoever.
The Daily Beast reached out to Johnson’s office for comment but did not receive a reply.
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Emile
(30,676 posts)
Zambero
(9,780 posts)It appears that honesty and transparency continue not to be virtues among scoundrels.
Prairie Gates
(3,540 posts)Congressional financing?
Check for evidence of pet rabbits visiting US military bases in desirable vacation spots.
(also, how’s this fool getting a ten large IRA payout? Isn’t he like, 50?)
progree
(11,463 posts)I've been taking required distributions from an inherited IRA since I was 53. (Fortunately no 10% penalty for being under 59 1/2 in the first 7 years. After that, I was over 59 1/2, so no penalty in the years after either). Edited to add: its an annual thing, so taking a withdrawal in just one year doesn't fit the pattern. EndEdit
Also, even if it's a regular IRA, one can withdraw from it at any age, although one would pay a 10% penalty if under 59 1/2, but if one has expenses that exceed what's available in regular taxable accounts, well, it's just something one may have to do sometimes.
Walleye
(36,316 posts)
mountain grammy
(27,366 posts)
eShirl
(18,848 posts)JT45242
(2,983 posts)Shouldn't some agency be flagging suspicious things like this?
Just wherever he direct deposits his congressional paycheck would apply.
Maybe, just maybe, we will get mandatory tax return releases for Congress critters and president and vice president candidates out of this.
sarcasmo
(23,968 posts)JT45242
(2,983 posts)There has to be some reporter in Louisiana who would want to make a name and could have found this. Lots of local investigative reporters make a name on finding corruption.
It's been half a decade and not one filing that's legit?
Why is there not some oversight group for this, it seems like a flashing neon sign for being on the take.
sarcasmo
(23,968 posts)haele
(13,633 posts)But I'll bet he claims he cashes his checks into currency so he doesn't need a bank account, he keeps it all under his mattress or in his gun safe. (Or wrapped in cling film stuffed in a freezer)
Since he's vanilla colored, he never has to worry about being pulled over and his money seized because he's carrying drug dealer amounts of money on him.
Haele
duckworth969
(966 posts)No need for opposition research if there’s no opposition.
Response to sarcasmo (Reply #12)
duckworth969 This message was self-deleted by its author.
Ocelot II
(121,382 posts)and it's doubtful anybody checked him out when he ran for Congress in his totally MAGA district.
Orangepeel
(13,970 posts)is he picking up a check every two weeks and cashing it at the 7-11?
Lochloosa
(16,432 posts)Happy Hoosier
(8,533 posts)He has to be doing something with his money.
I make a good salary, and do get my paychecks DP. But over the last couple of years, I had one disaster after another and racked up a pretty massive amount of debt.
I'm on the recovery side of all that now, and income exceeds absolute minimum of expenses, but almost all the extra goes to paying down that massive dept. I hope to be out of that hole finally in the new year. My ADB is probably more like $2000, so I wouldn;t have to report that. But I DO have retirement accounts which would require reporting.
LymphocyteLover
(6,959 posts)
FarPoint
(13,695 posts)I believe he probably does have a checking account...
czarjak
(12,521 posts)Obviously.
CincyDem
(6,960 posts)Somewhere, somehow this grifter is living off an LLC, likely his wife’s conversion business. And it’s probably registered as a church. Something about him just feels right for this one.
cayugafalls
(5,755 posts)I should have read comments before posting about gold stacking, lol.
I'll revise a little with new info...lol
LiberalArkie
(16,645 posts)
Hugin
(34,728 posts)About turning all charity work over to a church. These sorts are all about “vouchers” for everything. That’s what they want to do with Social Security and Medicare. It makes it easier to misappropriate the funds and rob the elderly and infirm.
He is apparently making the same mistake with his reporting that most of the arrogant christofascists make in thinking that they are above taxes and reporting because… Church.
azureblue
(2,322 posts)41 “Then he will say to those on his left, ‘Depart from me, you who are cursed, into the eternal fire prepared for the devil and his angels. 42 For I was hungry and you gave me nothing to eat, I was thirsty and you gave me nothing to drink, 43 I was a stranger and you did not invite me in, I needed clothes and you did not clothe me, I was sick and in prison and you did not look after me.’
44 “They also will answer, ‘Lord, when did we see you hungry or thirsty or a stranger or needing clothes or sick or in prison, and did not help you?’
45 “He will reply, ‘Truly I tell you, whatever you did not do for one of the least of these, you did not do for me.’
46 “Then they will go away to eternal punishment, but the righteous to eternal life.”
OMGWTF
(4,475 posts)These modern day Christofascists are all about keeping it for themselves.
NowISeetheLight
(3,991 posts)I thought that yesterday when I saw her website was .org not .com. I was kind of thinking her Christian Taliban conversion clinic was some kind of "church".
Marthe48
(19,294 posts)n/t
LymphocyteLover
(6,959 posts)LastDemocratInSC
(3,860 posts)If his wife was counseling him would she select Melancholy, Choleric, Sanguine, Supine, or Phlegmatic?
https://www.joemygod.com/2023/10/johnsons-wife-practices-temperament-counseling/
Sounds to me like he needs 2 leeches applied to each armpit followed by another bucket of Boar's vomit. (hat tip to Steve Martin's SNL skit about Theodoric of York, Medieval Barber)
slightlv
(4,416 posts)he's a Dominionist. They have their own "church" ways of avoiding anything and everything that's mandatory for all "common" Americans. And it's all legal as far as they're concerned, because they're doing it in the name of "God." They have their own banking, government, etc. We are facing the end of Democracy and going headlong into Theocracy if we don't get these people out of the government. They've already captured so many of their "hills... mountains"... and now 1/3 of the government. Don't like the Dominionist view? Too bad... you will be forced to convert. Many of us have been screaming about this for years... but just like abortion rights, we were told we were hysterical and nonsensical in our fervor of trying to get people to see. What do they say? Hindsight is always 20/20...!
CincyDem
(6,960 posts)I heard Margaret Atwood speak a few years ago (during the you-know-who administration). I forget the exact question that was asked but it was something about how she views The Handmaid's Tale through the lens of current US politics. Her response, however, was unforgettable...
"In today's world, I find great comfort that my book is still filed in the Fiction section. But it worries me that could change so easily."
She's been very vocal about where all this could go. Unfortunately, as you said re: abortion...those of us who point out the logical endpoint of their insanity are labeled as Cassandras because "no rationale person would go that far". That may be true but we're not dealing with rational people.
Think. Again.
(18,937 posts)...even the Daily Beast takes the journalistic position of assuming and exploring only above-board, legitimate reasons for why this guy has a virtually impossible financial structure, and never once considers that THIS IS A REPUBLICAN, HE IS DOING SOMETHING ILLEGAL AND/OR UNETHICAL.
Which is the very first assumption that should be made after the phrase 'This Is A Republican'.
bucolic_frolic
(47,521 posts)Don't laugh. Various religious sects in US history have used some type of barter bucks, coupons for daily life.
But this is the gold standard. Guy hiding a US House salary. Prob doesn't consider it his duty to report because he answers only to God. Recall he's got a personal account with the guy. Sorry, the Guy!
Yo_Mama_Been_Loggin
(116,349 posts)Last edited Wed Nov 1, 2023, 12:41 PM - Edit history (1)
"Render unto Caesar that which is Caesar's."
He's just another grifting religious charlatan.
Zeitghost
(4,557 posts)It's a disclosure form for members of Congress.
berniesandersmittens
(11,711 posts)More restrictions on regular and poor folks' healthcare, but rich, greedy assholes get away with shit like this.
It's like God blesses the wealthy and ordains the poweful...
Vinca
(51,206 posts)cayugafalls
(5,755 posts)Although, he still probably stacks some gold as well...
A lot of the religious zealots are preppers and most of them call for putting assets in something other than cash or banks.
CincyDem
(6,960 posts)I always get a kick outta prepers hoarding gold. If the world turns to chit so much so that the global banking system totally collapses…gold bars will only help if you can digest them like termites eat wood.
Deep State Witch
(11,340 posts)He's probably heavily invested in BitCoin or JesusCoin. Yes, there is such a thing. Hard-core evangelicals are all in on Christian Crypto.
https://www.coinbase.com/price/jesus-coin#:~:text=Jesus%20Coin%20is%20the%20official,as%20per%20the%20token's%20whitepaper.
2naSalit
(93,295 posts)The cheaters think they can fumble their way into power without scrutiny. He just undid himself, he won't last as speaker for very long. I watched a video of a Tarot card reader inquiring about his career as speaker... the reading indicated that he would not last long and that there would be much ado about some major lie in his past, any part of it, that would be his undoing. This could be it.
Deep State Witch
(11,340 posts)Was it Maryanne from Revealing Light? I just adore her!
2naSalit
(93,295 posts)And she was right on.
I only watch what gets posted here but I like her, her readings are pretty accurate. On some readings, I get a little different take on one or two points but otherwise, her speculations usually come around to manifest.
colorado_ufo
(5,936 posts)a Republican, and she would not have even had to crack open a new deck of cards
2naSalit
(93,295 posts)Who doesn't want to see pictures?
PlutosHeart
(1,445 posts)I like her.
Some other readers are getting the same reads too.
Manifest. Manifest.
MontanaMama
(24,080 posts)Very interesting.
Deep State Witch
(11,340 posts)Although, by law, you have to claim them, too.
I mean, did the Russians wire him money, or did they just show up in his office with a suitcase full of cash, a la Spiro Agnew?
NowISeetheLight
(3,991 posts)I remember something when Mitt Romney was running for President. There was some deal with him not releasing a tax return. I seem to recall the general suspicion was that he had taken advantage of some tax amnesty deal involving foreign accounts. It was suspected he had money overseas he didn't claim but during the amnesty was able to "come clean".
https://slate.com/business/2012/07/romney-s-tax-returns-is-the-2009-swiss-bank-account-amnesty-what-he-doesn-t-want-us-to-see.html
TheRealNorth
(9,629 posts)DFW
(56,800 posts)Why not? That‘s a fair question these days. I‘m sure he doesn‘t take his paycheck to a check-cashing kiosk twice a month.
It‘s not the kind of thing you can set up retroactively for appearance‘s sake, either. Either his funds are hidden somewhere, or the activity on his account is so totally off the wall that he rightly fears public scrutiny of it. If a public disclosure of his bank activity would disclose something so embarrassing as to warrant his immediate resignation as Speaker, the House Republicans will have to resume their bottom feeding for a replacement Speaker AGAIN.
2naSalit
(93,295 posts)I never agreed to direct deposit until I had to for my federal positions. If you have a job that's paid by the treasury, you pretty much have to have a bank account with, at least, a savings account to receive the payments.
Good catch. 
bucolic_frolic
(47,521 posts)That's $4,298.08 per week. You just TRY hiding that kind of cash flow.
2naSalit
(93,295 posts) CincyDem
(6,960 posts)He could cash the checks but then there should be a trail of suspicious activity reports required for any cash transaction over 10k.
A guy receiving a regular paycheck from the federal government who doesn‘t have a bank is like a history scholar who never visits a library: theoretically conceivable, I suppose, but not a practical reality.
Historic NY
(38,024 posts)I know there is a limit on electronic deposits via phone so he would have to go to a bank. Congress has a bank but there still has to be an electronic trail or routing. His check would been over 6000, bi-weeekly.
DFW
(56,800 posts)This just screams of someone not wanting public scrutiny of what he's up to.
I've been having direct deposit for decades, since I'm paid into an American bank account by my American employer, though I live in Europe. If it had involved some kind of exotic machinations, I would have heard of it long before now. Ergo, this has to be SOP to the point where many people probably have to make an exception if they do NOT want their paycheck deposited this way.
MontanaMama
(24,080 posts)Even back in the 80's, he was required to have direct deposit. He received his retirement benefits that way as well.
2naSalit
(93,295 posts)Because that's the manner in which I receive my SSI every month. I haven't received a check other than those from inheritance that I got from the passing of family members in well over a decade now. I function off a debit card that I guard with my life.
MontanaMama
(24,080 posts)My dad died in 2011 and that wasn't a thing back then.
2naSalit
(93,295 posts)That the recipients who were already receiving their money by check continued to do so. Newcomers to the system were on mandatory DD. I know I was required to use that "option" when I hired on with the Census Bureau in 2009. I just knew that it was required when I hired on at the other two agencies.
MontanaMama
(24,080 posts)not have DD. Something isn’t right here…
2naSalit
(93,295 posts)There's something really fishy here. Bet there's a big lie in there somewhere!
MontanaMama
(24,080 posts)I listened to her reading while I was packing up my Halloween decorations in my snowy, slushy front yard. May her take on things be true.
malaise
(278,669 posts)IRS!
DFW
(56,800 posts)MAYBE there is a perfectly legitimate explanation. but if there is, he doesn't seem to be in any big hurry to let the public in on his secret.
MontanaMama
(24,080 posts)Something isn't right with this. If this hits the public sphere and people start to ask questions, I figured he would just set up direct deposit...I didn't know he couldn't retroactively set it up. Very interesting.
DFW
(56,800 posts)And even that would take some doing on its own--but retroactively making three years worth of direct deposits from the US Treasury into such an account--even a Republican can't do THAT.
marble falls
(62,457 posts)Freethinker65
(11,160 posts)Physical banks near me will not even cash a check without being an account holder.
Windicator
(157 posts)apparently
wryter2000
(47,574 posts)How I wished Trump would live to regret that ride down the escalator. Now I find myself wishing this clown will live to regret becoming speaker.
peppertree
(22,850 posts)Probably in Paul Singer's laundromat, NML.
If anyone ever hacked that outfit, the names they'd find.
Ferrets are Cool
(21,985 posts) Wednesdays
(20,315 posts)One doesn't keep a bank account when one trades only with sheep and goats.
John1956PA
(3,421 posts)bucolic_frolic
(47,521 posts)MAGA Mike lives the dream!
chouchou
(1,399 posts)..It's "Render to Caesar, not Caesar's Palace!"
bucolic_frolic
(47,521 posts)I mean ... Louisiana.
mzmolly
(51,715 posts)Hmmm
RainCaster
(11,639 posts)Inquiring minds want to know.
dchill
(40,750 posts)At least not that can be proven. Just look at the Bible! If you want to know anything about him, look at the Bible.
CTyankee
(65,231 posts)oops.here: "manna is, according to the Bible, an edible substance which God provided for the Israelites during their travels in the desert during the 40-year period following the Exodus and prior to the conquest of Canaan. It is also mentioned in the Quran three times."
So it would all fit nicely with his world view, wouldn't it? (don't mention the part about the Quran).
dchill
(40,750 posts)...after he looks it up in the Book of Justifications.
Blue Owl
(54,893 posts)Chainfire
(17,757 posts)He hasn't disclosed his accounts because he doesn't want to, and he is special enough to avoid it. Following the rules is for the little people.
Liberty Belle
(9,617 posts)Russians gotta have a secret place to stash cash, or whoever is paying him off.
liberalla
(10,079 posts)Marthe48
(19,294 posts)Every news agency should dedicate a staffer to each potential representative and just dig the hell out of their past. Maybe if voters got this kind of information ahead of primary and general elections, there'd be less dross rising to the top. It's not ok if they are a republican. It is not okay to have half the representatives and God knows how many appointed or hired government employees on the take. It is not only wrong, but it creates a climate of acquiescence: "If Mike does it, so can I." Not a good role model, not a good lifestyle.
Diraven
(1,086 posts)Unless there is some kind of public outcry brought on by media investigations. I mean literally 1 or 2 FBI agents could do this job. How long did it take for them to investigate George Santos? Literally months of non-stop media coverage.
getagrip_already
(17,527 posts)That is the IRS's jurisdiction. Unless it involves corruption, money laundering, or corporate tax fraud of some kind, the fbi won't get involved.
The IRS isn't going to want to appear political. Not that they have the will or resources to look at congress anyway.
yardwork
(64,703 posts)moniss
(6,114 posts)we are to believe that he and his family have no ownership/lease on a home, no ownership/lease on any vehicles? People wondering about whether he is running money through the church need to know that the IRS is not going to allow a scheme where you donate your income to the "church" and then the "church" provides everything for you. Those things will still be required to be stated as income. Also any legal claims to the money are considered to be assets.
Even if you claim that others are paying for your lifestyle it must be declared as income according to IRS rules. Any income, regardless of taxable or non-taxable, must be accounted for under accounting rules. If you try to declare that the money in to you from the "church" equaled the money spent for your lifestyle you still have a taxable income situation. So in addition to tax fraud, abuse of non-profit status etc. there may also be fraudulent filings of required forms based on fraudulent accounting practices. Some people think that they could avoid taxes by being a minister but they would be wrong. Here is a link to a little more info about that.
https://www.irs.gov/taxtopics/tc417
spanone
(137,655 posts)people
(710 posts)Wouldn't investments in crypto currency still have to be included in his financial disclosure statements?
LudwigPastorius
(11,027 posts)
Grins
(7,934 posts)Shitting a brick over the finances of the Biden's? Here's one more, this one more "local." I'm sure that Speaker Johnson will be (unlike "those" people) more than happy to come clean. s/
4lbs
(7,395 posts)I also dislike ATM fees, and by having multiple accounts, I make sure that I can withdraw money at an ATM without paying a $3 or so "fee" for using a non-network/bank card.
It is a little more work for me, but I can actually keep a better accounting on my finances by separating it out.
There are still lots of paper trail though, and I'm pretty sure the IRS and state FTB know all about my finances.
Yes, it is very strange that someone who gets hundreds of thousands per year in federal salary and such would not have an account to put it in.
The only thing that I can think of is that because he is SO religious, that his religious affiliation may take that money as a large tithe.
SouthBayDem
(32,474 posts)required to work in finance, banking, insurance, or any other sector sensitive to handling money.
Captain Zero
(7,559 posts)Looking kind of fishy.
CTyankee
(65,231 posts)It's all in stacks of bills of various denominations. He doles it out in envelopes. 
Bluethroughu
(5,942 posts)He's a rotten apple.
smb
(3,591 posts)Note that the rules specify a number of dollars in the account. They don't say squat about accounts in rubles.
Dr. T
(114 posts)he should've stayed in the closet where he could freely grift undetected. But since this cockroach decided to step into the light, the consequences of that decision are coming to fruition.
onecaliberal
(36,264 posts)Why is this only coming to light now?
The Wizard
(12,930 posts)an offshore money laundry is in the air.
maxsolomon
(35,338 posts)And no one ever looked until now?
Not sure who polices the required reporting - but there's probably zero penalties.
Bettie
(17,383 posts)that he gave sermons at, so he can avoid paying taxes.
Everything would be "owned" by the church, so he's free and clear.
I sometimes wonder if that is why Bobo is giving sermons every other week.
SidneyR
(125 posts)I wonder if there are secretive evangelical money-stashing mechanisms.
Justice matters.
(7,581 posts)Time to try to save your own income, folks!
It's called "retribution" for a good cause... Yours!
Windicator
(157 posts)They want to continue cheating on their taxes,
forcing honest Americans to make up the difference $$$
live love laugh
(14,535 posts)twodogsbarking
(12,264 posts)
W_HAMILTON
(8,555 posts)In general, reporting individuals must disclose the financial interests of their spouses and dependent children, in addition to their own. Only in rare circumstances, when the financial interest of a spouse or dependent child meets all three standards listed below, may a filer omit disclosure of an asset:
(1) The item is the sole interest or responsibility of the spouse or dependent child, and the reporting individual has no knowledge of the item;
(2) The item was not in any way, past or present, derived from the income, assets, or activities of the reporting individual; and
(3) The reporting individual neither derives, nor expects to derive, any financial or economic benefit from the item.
An individual is not required to disclose financial information about a spouse from whom he or she has separated with the intention of terminating the marriage or providing for a permanent separation.
Taken from: https://ethics.house.gov/financial-dislosure/specific-disclosure-requirements#fd_spouse_info
Old Crank
(4,864 posts)Putin pays in cash.
twodogsbarking
(12,264 posts)That would explain a lot.
jgmiller
(446 posts)That he and his wife are directors of. It's no uncommon for lots of people with even small amounts of decent income or assets to do that for the tax breaks.
Alliepoo
(2,497 posts)Gets his monthly check cashed and divvies it up in his Dave Ramsey envelopes for his family’s expenses. /s/
dlk
(12,466 posts)Now that he’s in the spotlight, more and more dirt is being revealed.
FakeNoose
(35,980 posts)
orangecrush
(22,101 posts)You deserve him.
Wingus Dingus
(8,411 posts)Seems totally legit.
Bucky
(55,334 posts)Maybe he's so poor... (how poor is he?) he's so poor, he's been forced to share a billionaire with Clarence Thomas or Sam Alito
Ford_Prefect
(8,213 posts)it is ultimately owned by some LLC under his Wife as Director. The whole shootin' match is hiding under some kind of tax free, charitable network of organizations with a grandiose religious sounding title, and no record of payment to anyone other than certain nominal board members. Most likely modeled on something like Samaritan's Purse with advice from Franklin Graham, himself
C Moon
(12,597 posts)don't want the spotlight, because they are all doing something similar.
DJ Porkchop
(633 posts)Release the hounds!
Hassler
(3,777 posts)FarPoint
(13,695 posts)Where does his paycheck from being a US Congressman get deposited?
babylonsister
(171,675 posts)since it's not in a bank. Very mysterious or a logical explanation? No pushback from Dems?
nakocal
(607 posts)are cash only.
SunSeeker
(54,007 posts)
James48
(4,613 posts)All government employees are required to use direct deposit for their pay.
It’s legally got to go to a bank account.
So where does YOUR check go, Mr. speaker?