Barack and Michelle Obama reportedly earned about 579,000 dollars last year, as revenues from their best-selling books continued to fall.
The books that contributed to the families income are ‘Dreams From My Father,’ an autobiographical look at Barack’s early life published in 1995, and ‘The Audacity of Hope,’ a policy vision published in 2006.
According to the documents, after deductions the family had an adjusted gross income of 481,098 dollars. They paid 98,169 dollars in federal taxes, or about 20.4 per cent of their income, and donated nearly 60,000 dollars to charities, stuff.co.nz reported.
Obamas had reported income of 662,076 dollars and paid 112,214 dollars in federal taxes at a rate of 18.4 per cent for 2012 and in the year before that the family earned 844,585 dollars while paying 162,074 dollars in federal taxes. After deductions, their adjusted gross income was 608,611 dollars in 2012 and 789,674 dollars in 2011.
Obama’s annual presidential salary is 400,000 dollars. (ANI)