Obamas' Income Drops ... to $609K
Slowing book sales make it lowest total of presidency
By John Johnson, Newser Staff
Posted Apr 12, 2013 3:32 PM CDT
President Obama and first lady Michelle Obama dance together at an inaugural ball Jan. 21, 2013, at the Washington Convention Center.   (AP Photo/Carolyn Kaster)

(Newser) – The White House today released the 2012 tax returns from the Obamas and the Bidens:

  • Obamas: The president and first lady earned $609,000, with 40% of that from book sales. They paid $112,214 for an effective tax rate of 18.4%, and they donated about a quarter of their income to 33 charities. The income is the lowest of President Obama's presidency, reports AP. When his book sales were booming in 2009, the Obamas pulled in $5.5 million. Last year, they grossed about $790,000.

  • Bidens: The VP and wife Jill had an adjusted gross income of $385,072 and paid $87,851 in federal income taxes (22.8%). The Bidens donated about $7,000 to charity. One quirk: The couple made about $26,000 in 2012 by renting a cottage near their Delaware home to the Secret Service, reports Politico.
  • The White House has both returns in PDF form: Click for the Obama return and the Biden return.

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Showing 3 of 87 comments
Bushdidit
Apr 15, 2013 8:15 AM CDT
So the secret service protects their life but Uncle Joe find it justified to charge them to do so. Of course.
thundr1
Apr 14, 2013 5:33 PM CDT
dam, wish I made that much. you dont have to spend money for anything when tax payers are paying for that luxurious life style, of million dollar vacations, parties with the rich and continious golf rounds, like you are on a tournament. Im quite sure that the lobbiest, special interest groups,cooperations, wallstreet and his elite friends ( that he dispises so much ) are throwing him a bunch of under the table gifts we are unaware of. the bills being racked up and paid for by the tax payers for his pricey vacations and trillion dollar spending spree is putting this country in a downfall. at the end of the day, he walks away with alot of gain, when most hard working tax payers are hurting, struggling and paying more taxes.at the end of his term, he will be one of the elite, and will cost him nothing for the damage hes helped put this country in. maybe he can become a sports analyst, he seems very good at that
laxman23
Apr 14, 2013 2:42 PM CDT
Greedy 1 % er's. My wife and I make less than 1/3 of Biden's income, yet were more charitable. And he's always banging on the rich for not paying their fair share.