Tax time at the White House

    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

     

     

     

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