President, Vice President Release Tax Returns
The White House has just released federal and state income tax filings from President Obama and Vice President Biden. Obama's federal returns can be seen online here and here. His Illinois return is here.
Biden's federal and state returns are here and here (all PDFs).
From the White House releases:
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 Catholic Relief Services 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.
On Biden:
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.
When Biden released copies of his returns from a 10-year period during the campaign, it was noted how little he donated to charity. The release notes here that the Bidens contribute "with their time, as well as their checkbooks." He often took pride in being one of the poorest members of the U.S. Senate.



