Even the man at the top has to pay Uncle Sam.
Obama paid a whopping $1.8 million income tax, which means his income is much higher than the $400,000 they talk about in civics class. That’s because this guy is a best-selling author.
We’ve found all kinds of somewhat interesting details in the president’s tax return.
Here’s The Tax Return Highlights >
Barack Obama earned $5.5 million last year… most of it from book sales
He wrote off $866 in office expenses for his book project
Obama paid $59 thousand to foreign governments! (Taxes on book sales)
He also earned money from a diversified portfolio
Obama inherited several hundred thousand dollars from his grandmother… on which he paid around 33% in taxes
They still get their taxes done by a Chicago firm
Obama received $1.4 million from the Nobel Committee… and gave it all to charity
Obama gave 6% of his income to charity (not counting Nobel Prize money), while most people give only 3.3%
Source: Fox Business
Obama gives disproportionately (25%) to charities located in Chicago
Assuming a 32% rate, Obama will pay 1.79 million in income tax
He also paid $160,000 in state income tax to Illinois
Illinois Governor Patt Quinn
Source: MSNBC
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Image: davitydave on flickr
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