Obama tax return shows 2011 earnings of $789,674

Obama tax return shows 2011 earnings of $789,674

Obama tax return shows 2011 earnings of $789,674

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azfamily.com

Posted on April 13, 2012 at 11:48 AM

Updated Wednesday, Apr 18 at 3:36 PM

WASHINGTON (AP) -- The White House says President Barack Obama and his family paid more than $160,000 in federal taxes last year.

The president's 2011 federal income tax return shows reported adjusted gross income of about $790,000 last year. About half of the first family's income is the president's salary. The White House says the rest comes from sales of Obama's books.

Obama's effective tax rate is just above 20 percent -- lower than many Americans who earn less. He has made tax-rate fairness a campaign issue.

The White House released a copy of the president's tax return, which also shows charitable donations of more than $172,000.

Obama is donating after-tax proceeds from his children's book to the Fisher House Foundation. The charity helps veterans and military families receiving medical treatment.

Meanwhile, Vice President Joe Biden and his wife Jill's tax return looks almost identical to last year's. They show the Bidens paid $87,900 in federal taxes on adjusted gross income of $379,035. Their income was $143 below their 2010 return, but their tax bill was $1,274 higher. In both cases, the effective tax rate was just over 23 percent.

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