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 87 comments Comments 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.