Barack and Michelle Obama’s 2008 tax returns shows that the couple made some serious bank last year.
They filed taxes yesterday, just like every other American; but unlike most of us, they reported an adjusted gross income of $2,656,902. That’s nearly 10 times more than the vice president and his wife made in 2008!
The majority of their money came from the sale of Barack’s books. They wound paying $855,323 in federal taxes and another $77,883 in Illinois state taxes.
But with as much cash as they made last year, the first couple had no problem giving back. In fact, they donated $172,050 (about 6.5 percent of their earnings) to charities in 37 different states. They gave the biggest gifts to CARE and the United Negro College Fund, each of which got $25,000 in contributions.
– Sonya Eskridge