Washington – President Barack Obama and first lady Michelle Obama paid $98,169 in taxes on $481,098 income last year, according to tax returns the White House released Friday. They paid an effective federal income tax rate of 20.4 percent.
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The couple’s 2013 federal income tax return was posted on the White House website four days before the tax filing deadline.
The 42-page document shows the Obamas reported donating $59,251 to 32 charities. That works out to 12.3 percent of their adjusted gross income. Their largest charitable gift, $8,751, went to the Fisher House Foundation, which supports military families.
The Obamas also released their Illinois income tax return showing they paid $23,328 in income taxes to their home state.
Separately, Vice President Joe Biden and his wife, Jill, paid $96,378 in federal tax last year on adjusted gross income of $407,009. They paid an effective federal income tax rate of 23.7 percent, according to their tax returns.
They paid $16,444 in taxes to their home state of Delaware.
Jill Biden, a community college professor, also paid $3,470 in income tax to Virginia, where she teaches.
The Bidens donated $20,523 to charity last year.
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Online:
Obama, Biden tax returns: http://www.whitehouse.gov/blog/2014/04/11/president-obama-and-vice-president-biden-s-2013-tax-returns
He’s not paying his fair share. He should pay more!
Last I checked 98169 while a nice amount is far off from 35% of 481K. Come on I thought the wealthy/ 1% can afford to pay a little more to the 99%. Why look for loopholes such as chariatable gift deductions? Mr. Obama you an afford a little more.