Release of the President and Vice President’s Tax Returns.

As another demonstration of the President’s commitment to openness and transparency, today the White House issued the following releases making the President and Vice President’s tax returns public:
For the President:
THE WHITE HOUSE
Office of the Press Secretary
FOR IMMEDIATE RELEASE
April 15, 2009

President Obama
President Obama
President and First Lady Release 2008 Income Tax Returns

Today, the President released his 2008 federal income tax returns.  He and the First Lady 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 President and First Lady 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 President and First Lady also released their Illinois income tax return and reported paying $77,883 in state income taxes.
For the Vice President:
THE WHITE HOUSE
Office of the Vice President
FOR IMMEDIATE RELEASE
April 15, 2009
The Vice President and Dr. Jill Biden Release 2008 Income Tax Returns

Today, the Vice President and Dr. Jill Biden released their 2008 federal and state income tax returns.  He and Dr. Biden filed their income tax returns jointly and reported an adjusted gross income of $269,256 and an after-tax income of $183,315.  The family’s primary sources of income were salaries from the United States Senate, Widener University, Delaware Technical & Community College, as well as royalties from the audio rights to the Vice President’s book.  The Bidens paid $46,952 in federal income taxes; $11,164 in Delaware state income taxes; and donated $1,885 to charity. The charitable donations claimed by the Bidens on their tax returns are not the sum of their annual contributions to charity. They donate to their church, and they contribute to their favorite causes with their time, as well as their checkbooks.

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