In 2012, Obamas Made $662,076, Paid $112,214 In Taxes | WAMU 88.5 - American University Radio

NPR : News

In 2012, Obamas Made $662,076, Paid $112,214 In Taxes

President Obama and first lady Michelle Obama report that they had an adjusted gross income of $608,611 in 2012. The couple gave $150,034 to charity and ended up paying $112,214 in taxes.

That's an effective tax rate of about 18 percent.

That's a drop from what Obama had paid in previous years. In 2010, for example, Obama paid and effective tax rate of 25 percent. In 2011, that number dropped to 20.5 percent.

Reuters reports:

"Obama has pressed for wealthy people like himself to pay a greater share in taxes.

"The issue was a sticking point in his re-election campaign against Republican Mitt Romney, a wealthy former private equity executive who had an effective tax rate of 14.1 percent in 2011.

"'Under the president's own tax proposals, including limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it,' White House spokesman Jay Carney said in a statement."

Via The Washington Post, here are the tax returns:

Vice President Joe Biden and his wife, Jill, made $385,072 and paid $87,851 in taxes. Their returns are here.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

How John Safran Lost A Year In Mississippi

God'll Cut You Down is a new book based on the tangled true story about the murder of a white supremacist by a black hustler. NPR's Rachel Martin speaks with the book's author, John Safran.
NPR

Need A New Sweet Potato Recipe For Your Thanksgiving Table? Try Gnocchi

Because some cooks like to mix it up for Thanksgiving, we offer a Found Recipe from our archives: Julia Della Croce's purple sweet potato gnocchi.
NPR

Marion Barry, D.C. Former Mayor, Dies At 78

Washington, D.C.'s most infamous politician, Marion Barry, has died. The four-term mayor was re-elected after going to jail for crack cocaine possession and was still serving as a D.C. councilman.
NPR

Car Ride Service Puts Gender In The Driver's Seat

Car share programs are extremely popular, but so are concerns for safety. NPR's Tess Vigeland talks to Stella Mateo, founder of SheRides, which allows passengers to choose the gender of their driver.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.