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President Obama and first lady paid $453,770 in 2010 federal taxes, donated 14% of income to charity

As Tax Day reaches the 11th hour and some Americans wince at how much they will be forking over to the government, most won't pay as much as the Obamas did. The President and the first lady released their joint tax returns Monday and showed that even though they earned about two-thirds less than  they did in 2009 when the president's book sales were skyrocketing, they still paid out close to a half million dollars in federal taxes.

first lady michelle obama and president barack obama made 2/3rds less money in 2010 than they made in 2009 but still had to pay almost a half million dollars in federal taxes President Obama and his wife, Michelle, earned about $1.73 million in 2010, their return stated. They also paid $52,000 in Illinois state taxes. The president receives a $400,000 salary, the majority of his income came from sales of the his books, "Dreams from My Father" and "The Audacity of Hope."

The couple donated $245,000 to 36 different charities last year, which totaled about 14% of their income. The entirety of the proceeds of his 2010 children's book, "Of Thee I Sing: A Letter to My Daughters," was donated to a charity benefiting children of slain and disabled soldiers.

In 2009 the Obamas raked in $5.5 million, mostly due to the best-selling books which were at the peak of their popularity.

Vice President Joe Biden and his wife, Jill, earned $379,178 in 2010. They paid a total of $86,626 in federal taxes, $14,479 in Delaware state taxes, and $3,515 in Virginia income taxes.

Unlike the Obamas, the Bidens were not as financially generous with their charitable contributions, giving about 1.4% of their adjusted income to donations. But according to the veep's press secretary, the Biden's do-gooding didn't begin and end with the wallet.

Elizabeth Alexander, Vice President Biden's press secretary, issued a statement to CNN that emphasized that the Bidens also donate their time to charitable causes.

"The charitable donations claimed by the Bidens on their tax returns are not the sum of their annual contributions to charity,"  Alexander told CNN in a statement. "They contribute to many causes with their time, as well as their checkbooks," she said.

RELATED:
Obama blasts continued tax cuts for the rich
White House releases Obama, Biden tax returns
Obama's income drops, but still a millionaire, tax returns show

Note: Andrew Malcom is on vacation.

-- Tony Pierce
twitter.com/busblog

Photo: U.S. President Barack Obama and first lady Michelle Obama listen to their national anthem during an arrival ceremony at the National Palace in San Salvador March 22, 2011. Credit: REUTERS/Jason Reed

 
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My new American name is Doctor Strangelove and I would like to give you my input mine Fuerur.....ah I mean my friends.

What I am more concerned about is where the GOP's boss GE buried the money. GE PAID NO TAXES this year. Almost forgot though, The GOP, GE and BIG OIL wrote THE TAX CODES.

I find them just as adorable as the three little pigs in Orwell's "Animal Farm." I would like to take them down the mine shaft and slaughter them.

Good for the Obamas.

What many fail to realize is that when taxes are lower, charitable donations go up. That's why they were at a peak during the Reagan years. So you can donate to a charity, or donate to that big, slow, inefficient charity we like to call our government. Just depends on the policies of whoever's at the helm.

@disbelief

If it were true that charitable donations are higher in lower tax times they should be at their highest now. Seeing as taxes are now lower than they have been since 1955, long before your precious Reag-nomics.

@ilovethetruth

I'll correct my previous statement...charitable donations were higher during the Reagan years that they were in the decades prior. I thought it may seem obvious that we're in an economic downturn now, but I'll just throw that out there in case you've missed a few years of headlines.

Which book ("Dreams from My Father" or "The Audacity of Hope") was more profitable?

@disbelief regardless if your precious Reaganomics had panned out then there would not be a widening gap between the rich and average. The whole point was to encourage the upper echelons of the economic gap to use their power (capital/influence/et cetera) to boost economic growth below them. The only thing it has achieved is lining the pockets of those who run big corporations as well as help from the government. If one thing is responsible for the huge economic downturn (headlines of which I am very, very aware of) it is the fiscal irresponsibility and political oversight brought to you by the GOP. Now I am not saying the dems are saints themselves. They line their pockets too, but if one thing is for sure, it was overwhelmingly the GOP's fault for designing such a poor tax code riddled with loopholes and break for big corporations who's tax money could have easily saved many American programs that are now short of funding.

@anyone_else

Be an adult, embrace the country which has clearly given you more than you could have ever dreamed of. PAY YOUR F**KING TAXES.

Obama lied people died

December 7 th 1941 was the last time the S.&P.down graded our rating to negative.Hows that for ''Hope and Change''

Here's why disbelief is a republican troll:

What many fail to realize is that when taxes are lower, charitable donations go up. That's why they were at a peak during the Reagan years. So you can donate to a charity, or donate to that big, slow, inefficient charity we like to call our government. Just depends on the policies of whoever's at the helm.

I'll correct my previous statement...charitable donations were higher during the Reagan years that they were in the decades prior. I thought it may seem obvious that we're in an economic downturn now, but I'll just throw that out there in case you've missed a few years of headlines.

Analysis: Hated on Obama and his govt, when this economic downturn is the result of Bush's Presidency, and then said something so retarded that he should be burned for it. I say disallow all Republicans to vote for a decade, and take America back to prosperity.

This article is missing an addition 1.4m dollars donated to charity in 2010. The President's Nobel peace prize winnings.

@tony

Actually, that last time a major ratings agency placed the US on a negative watch was in '96, when Moody's took the GOP majority's debt ceiling threats seriously.

Typically the debt ceiling is passed with small margins, the parties shuffling around votes so that it will pass while still allowing as many of their caucus members as possible to avoid casting a politically unpopular vote. I guess when the party in power is seen as actually making credible threats that they may not raise the debt ceiling it can spook the ratings agencies.

Are you stupid Dr.Strangelove? You do realize that GE owns MSNBC and is one of Obama's biggest supporters via green energy? Oh wait let me guess, it's only Republicans that can dodge taxes and buy politicians. Nope. They're both crooks. This country needs to realize that.

I love big corporations and their money. My buddies and I in the union love to eat up all that profit and get to relax way more than the other guys out there. You can't beat a cake job, ridiculous benefits and many breaks all at the expense of the company and tax payers. Hell look at what we have done to GM. They can't even afford to pay retirees and compete with non unions guys at Toyota. Oh well that idiot President will save us union guys no matter what happens. He's got our back! Like they would say in the hood. Oh wait...he's not from the hood. Actually he is white...no sh*t! Go figure...get er done!


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About the Columnist
A veteran foreign and national correspondent, Andrew Malcolm has served on the L.A. Times Editorial Board and was a Pulitzer finalist in 2004. He is the author of 10 nonfiction books and father of four. Read more.
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