Obamas Pay the Tax Man

WASHINGTON (AP) – President Barack Obama paid more than $81,000 in taxes last year on adjusted gross income of more than $436,000. Their effective federal income tax rate was 18.7 percent.

That’s according to income tax returns for Obama and his wife, Michelle. The White House released the returns Friday ahead of the April 18 federal filing deadline.

Obama also reported donating $64,000 to charity, or about 15 percent of their income.

His largest charitable donation – just over $9,066 – went to the Fisher House Foundation. The organization aids wounded service members and their families.

Vice President Joe Biden and his wife, Jill, paid more than $91,500 in federal taxes last year on adjusted gross income of more than $392,000.

The Bidens reported $6,620 in donations to charity.

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