Obama Earned $790K in 2011

Family taxed more than $160K
By Newser Editors and Wire Services
Posted Apr 13, 2012 11:14 AM CDT
Obama speaks Wednesday, April 11, 2012, in the Eisenhower Executive Office Building on the White House complex in Washington.   (AP Photo/Susan Walsh)

(Newser) – President Obama and his family paid more than $160,000 in federal taxes last year, the White House says. The president's 2011 federal income tax return shows reported adjusted gross income of about $790,000 last year. About half of the first family's income is the president's salary. The White House says the rest comes from sales of Obama's books.

Obama's effective tax rate is just above 20%—lower than many Americans who earn less. He has made tax-rate fairness a campaign issue. The White House released a copy of the president's tax return, which also shows charitable donations of more than $172,000. Obama is donating after-tax proceeds from his children's book to the Fisher House Foundation. The charity helps veterans and military families receiving medical treatment.

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