“Fair Share” My Backside: Obama Only Pays 18.4% Tax Rate

Published on April 14, 2013

Screen Shot 2013-04-14 at 6.47.00 AMWASHINGTON—President Barack Obama and First Lady Michelle Obama paid $112,214 in federal income taxes in 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said Friday.

The first family’s income declined from the $789,674 in adjusted gross income they reported in 2011. That year they paid total federal taxes of $162,074, an effective rate of 20.5%. Their 2012 income continues a steep decline from 2010 when they reported $1.7 million in adjusted gross income, the bulk of which was royalties from sales from books written by Mr. Obama.

Read more: wsj.com

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