Obama Reveals 2011 Tax Return
NEW YORK (CNNMoney) — President Obama and the first family saw their income drop by almost $1 million in 2011 as sales from his best-selling books slowed.
The Obama family, in tax returns released Friday by the White House, reported an adjusted gross income of $789,674 for 2011, down from $1,728,096 in the previous year. The family income topped $5.5 million in 2009.
Jay Carney, the White House press secretary, noted in a statement that Obama’s 2011 effective federal income tax rate is 20.5%, and that the president’s own policies would result in higher taxes for the Obama family.
The president earns a salary of $400,000 for his day job. His total earnings are much higher because his books –
“Dreams From My Father,” and “The Audacity of Hope”
– continue to attract buyers.
The Obamas reported paying $162,074 in federal taxes. They donated $172,130, or 22% of their income, to 39 different charities.
Obama is donating the proceeds from his latest book, “Of Thee I Sing,” to a Fisher House scholarship fund for children of fallen and disabled soldiers. This year, the contribution was $117,130.
Vice President Joe Biden and his wife Jill reported income of $379,035, but gave only $5,540 — or 1.4% — to charity.
I don’t think his income paints the picture of how the Obama’s are living cause they probably never pay for anything.
dam the president only makes 400,000 a year. he actually is making more money sellin his books. he is highly under paid. for all the bull%$t he goes threw thats it. he makes more then me but hell im not running the country either. the firts thing i wouldve done is give myself a pay rais cuz thats cold. look at it like this….. KOBE makes almost 30,000,000 this year. ALBERT PUJOLES sighned for over 250,000,000. and all they doin is playn a game for 6 or 7 months out the year. even school teachers cant get paid and they deal wit bad a$# elementary kids. stank attitude jr high kids, and know nothing know it all a#% high school kids. but PEYTON MANNING can get 90,000,000 with 4 sergeries CUMON MAN THATS COLD 4REAL… he has indered more then any president minus BILL CLINTON, LINCOLN, and ROSEVELT.. damn OBAMA keep ya head up… PRIORITIES PEOPLE WAKE UP
It called a government job. Kobe and Peyton work in a private industry so have a right to make more money because it is not a public sector job.Learn your facts befor you make ignorant comments.
United State is the richest country in the world $14,660,000,000,000!!!
U.S.A has that much money 4real?… hell i cant even get a loan……… B#@HES
Its called sarcasim…..$4,660,000,000 is the debt that we owe
EXACTLY HAHZ..NOT MUCH THEY HAVE TO PAY FOR AND THEY GET FREE SH1T SENT TO THEM..
I hope I don’t get detained.
yall arent that slow. these politicians have offshore accounts just like big bankers, drug dealers, CEO’s, stockbrokers, lawyers and other people with alot of money. wake up.
+1 the power pays billions more then the salary to hold the office. Ask Bush.