Barack and Michelle Obama’s 2008 tax returns revealed

Barack Obama, Michelle Obama

The White House released Barack and Michelle Obama’s 2008 tax returns yesterday.

The tax information shows that Barack and his wife earned $2,656,902 last year, most of which came from Barack’s two best-selling memoirs, according to the White House.

The power couple paid $855,323 in federal income taxes, and $77,883 in Illinois state income taxes.

The couple also donated more than $170,000 to 37 different charities. The largest reported donations were $25,000 gifts to the anti-poverty group CARE, and the United Negro College Fund, according to Reuters.

The White House also released tax information for Vice President Joe Biden and his wife Jill. The report shows that Biden and his wife earned about $270,000 and that they donated $1,885 to charity, reports.


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