President Barack Obama and the First Lady released their 2008 federal income tax returns on April 15. They filed their income tax returns jointly and reported an adjusted gross income of $2,656,902. The vast majority of the family’s 2008 income is the proceeds from the sale of the President’s books. The Obamas paid $855,323 in federal income tax.
The Obamas also reported donating $172,050 or about 6.5% of their adjusted gross income to 37 different charities. The largest reported gifts to charity were $25,000 contributions to CARE and the United Negro College Fund.
The First Couple also released their Illinois income tax return and reported paying $77,883 in state income taxes.
Do you think the President’s income taxes should be made public record?