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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
Obamas' Income Drops ... to $609K
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.

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  • 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.
(Read more President Obama stories.)

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