Obamas Made $609K, Paid $112K in Taxes

Don't worry, he'll cash in on the post-presidency lecture circuit

It's getting close to Tax Day for all Americans – and that includes the inhabitants of the White House.

Last year, President Barack Obama and First Lady Michelle Obama paid an effective tax rate of 18.4 percent, the White House reported Friday, with an adjusted gross income of  $608,611 and a total of $112,214 in taxes.

The family gave almost a quarter of its income to charity, including a $103,871 donation to the Fischer House Foundation.

According to their website, the foundation "donates 'comfort homes' built on the grounds of major military and VA medical centers." The homes allow family members of those who are hospitalized to stay closed to loved ones for free. The president donates the proceeds of the children's book he released in 2010, "Of Thee I Sing" to the foundation.

Comments

[Jayce]

The first year they've paid a higher percentage than I did, when I have always made significantly less money.

Glad to see the progressive tax system works!

[RightofCenter]

Of course, his non-reportable income is much larger and not taxed at all, just paid for by our taxes. In any event, good on them for supporting Fisher House, assuming the name above was a typo and not the name of a different organization. When an Air Force friend of mine was diagnosed with leukemia and had to transfer to Bethesda, his family stayed in a Fisher House the few months until he passed.

And let's not forget our magnanimous VP giving an entire 1.8% of his reportable income to charitable causes, some in the form of his used clothing. Yay, Joe!