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

(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.

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)
« Prev« Prev | Next »Next » Slideshow
My TakeCLICK BELOW TO VOTE
16%
13%
5%
11%
4%
52%
To report an error on this story, notify our editors.

NEWS FROM OUR PARTNERS
Other Sites We Like:   The Street   |   MSN Living   |   PopSugar Tech   |   RealClear   |   24/7 Wall St.   |   Biography   |   Barstool Sports   |   OK!