The White House released the president’s and vice president’s 2012 income tax returns on Friday afternoon. The president saw his income drop from $789,674 in 2011 to $608,611 in 2012.
The Obamas paid $112,214 in total tax at an effective rate of 18.4% and also donated $150,034 to 33 different charities. The largest reported charitable gift was $103,871 to the Fisher House Foundation.
The vice president and his wife reported adjusted gross income of $385,072 and paid $87,851 in total federal tax for 2012. They paid $13,531 in Delaware income tax and $3,593 in Virginia income tax in addition to contributing $7,190 to charity in 2012.
Barack Obama earns a salary of $400,000 per year as president, and Joe Biden earns $230,700 per year as vice president. The tax returns of both the president and vice president are available at the links below.