Barack Obama

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.