Washington (dpa) - President Barack Obama and First Lady
Michelle Obama recorded nearly $609,000 in adjusted gross
income last year, tax returns released by the White House Friday
The couple paid $112,000 in federal taxes, or 18.4 per cent of their income. The White House noted that under tax reforms proposed by president, the Obamas would have paid more in taxes.
The Obamas' income declined from just under $790,000 in 2011, when they paid about $162,000 in taxes, or 20.5 percent of their income.
They donated $150,000 to a total of 33 charities, with the largest donation to Fisher House Foundation, which serves injured veterans and their families.
In addition to his salary, the couple earned money from book sales, which declined this year, accounting for the loss of income in 2012.
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