White House: Obamas earned $5.5 million in 2009, paid $1.8 million in federal income taxBy AP
Thursday, April 15, 2010
White House: Obamas earn $5.5 million in 2009
WASHINGTON — President Barack Obama and his wife, Michelle, made $5.5 million last year, largely on sales of his books, and paid nearly $1.8 million in federal income tax, according to the tax return they released Thursday.
The Obamas gave $329,000 to charities in 2009, including $50,000 each to CARE and the United Negro College Fund. The president also donated his $1.4 million Nobel Peace Prize award to 10 charities.
The vast majority of the Obamas’ earnings continue to come from sales of the president’s books, “Dreams From My Father,” and “The Audacity of Hope,” which have netted the couple several million dollars in recent years.
The Obamas paid $163,303 in Illinois income taxes.
In 2008, when Obama was campaigning for president, he and his wife earned $2.7 million and paid $855,323 in federal income tax.
Vice President Joe Biden and his wife, Jill, reported an adjusted gross income of $333,182 for 2009. They paid $71,147 in federal income taxes, $12,420 in Delaware income taxes and $1,477 in Virginia income taxes.
The Bidens gave $4,820 to charity, in cash and in-kind donations.
Tags: Barack Obama, Charity Fundraising, District Of Columbia, North America, Philanthropy, United States, Washington