Obamas and Bidens release their tax forms
While Democrats and Republicans wrestled over tax day and anti-tax tea parties, the White House released the tax returns for the president and vice president this afternoon, showing that the people who lead the United States are richer than most of their supporters.
President Obama and his wife, Michelle, reported an adjusted gross income of $2.7 million on their 2008 federal return. They paid $855,323 in federal income tax. They also reported paying $77,883 in Illinois income taxes.
Most of the income comes from the president’s successful books.
The Obamas said they donated $172,050 – or about 6.5% of their adjusted gross income – to 37 different charities, including $25,000 contributions to Catholic Relief Services and the United Negro College Fund.
Vice President Joe Biden and his wife Jill reported an adjusted gross income of $269,256 and an after-tax income of $183,315. The family’s primary sources of income were salaries from the United States Senate, Widener University, Delaware Technical & Community College, and royalties from the audio rights to the vice president’s book.
The Bidens paid $46,952 in federal income taxes; $11,164 in Delaware state income taxes; and donated $1,885 to charity.
– Michael Muskal
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Photo: Associated Press / White House (A portion of the Obamas' 2008 tax return, showing a joint income of $2.7 million.