White House releases Obama, Biden tax returns
In the never-ending debate over taxes, President Obama has lumped himself among high-wage earners that he said don’t need cuts the country can’t afford. On Monday, the White House released his tax returns to prove it.
The Obamas paid $466,104 in taxes on income of nearly $1.8 million in 2010, according to the 59-page document. That income includes both Obama’s $395,188 salary as president and $1.3 million from other sources.
The Obamas gave $245,075 to 36 different charities in 2010, including $131,075 to the Fisher House Foundation, which provides free or low cost lodging to veterans and military families receiving treatment at military medical centers. The first couple is applying its $12,334 refund to 2011 taxes.
Vice President Biden and his wife Jill reported $379,178 in income in 2010 and paid $79,446 in federal taxes. Biden was less charitable than the president, giving just $5,350 from his lower income.
UPDATE: Peter Nicholas has more on the Obama tax returns here.
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