President Obama and his wife Michelle released their 2009 tax return information today. It appears that the president and his wife made $5.5 million dollars in 2009, largely based off of book royalties. The first family paid nearly $1.8 in federal taxes, and more than $161,000 in Illinois state taxes, and made substantial gifts to charities.
The president donated his entire $1.4 million dollar Nobel Peace Prize award among 10 charities. In addition, the Obamas divided another $309,000 among charities such as The United Negro College Fund and CARE, which both received large $50,000 donations.
Since becoming president, the Obama family income has grown from the $2.7 million reported on their 2008 return, in which they paid more than $855,000 in federal taxes. Better sales of his books since becoming president explain the big rise in family income.
Likewise, the Biden family also made their 2009 taxes returns public. The Bidens reported $333,182 in income, paying $71,147 in federal taxes, $12, 420 in Delaware taxes, and $1,477 in Virginia taxes as well. The Bidens gave a far smaller $4,820 in charity donations during 2009 than the Obama family did. However, the Biden family income was far smaller.
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