Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Towards a 'Third Intifada'?

Read more

IN THE PAPERS

Germany and Russia discuss secret Ukraine deal

Read more

DEBATE

Iraq's Christians: Nowhere to Run? (part 2)

Read more

IN THE PAPERS

France commemorates a hero of the left

Read more

DEBATE

Iraq's Christians: Nowhere to Run?

Read more

WEB NEWS

Fake Twitter accounts spread chinese propaganda

Read more

FOCUS

What solutions for California's overcrowded prisons?

Read more

MIDDLE EAST MATTERS

Gaza conflict: Palestinians mark sombre Eid

Read more

WEB NEWS

Celebrities in the Israel-Gaza crossfire

Read more

  • Israel calls up 16,000 more reservist as Gaza death toll soars

    Read more

  • Scores feared dead in India landslide

    Read more

  • Video: Inside Hamas ‘terror’ tunnels in Gaza

    Read more

  • Sierra Leone quarantines Ebola outbreak epicentres

    Read more

  • Russia defiant as US, EU unveil 'phase three' sanctions

    Read more

  • Iraq's Christians: Nowhere to Run?

    Read more

  • US House votes to sue Obama for over-reaching his powers

    Read more

  • Argentina fails to reach deal with creditors

    Read more

  • Women should not laugh in public, Turkey's deputy PM says

    Read more

  • Suspect in Jewish Museum attack charged with 'terrorist' murder

    Read more

  • Fourth female suicide bomber targets Nigerian city

    Read more

  • US rebounds to 4% growth in second quarter

    Read more

  • Rats on the rampage at Louvre museum gardens

    Read more

  • 'Compelling' signs Kosovo leaders trafficked organs, prosecutor says

    Read more

Americas

Obamas made $2.5 million in 2008

Latest update : 2009-04-16

US President Barack Obama and his wife Michelle made 2.65 million dollars in 2008, mostly from royalties of his two best-selling books "Dreams of My Father" and "The Audacity of Hope", the White House said Wednesday.

Reuters - U.S. President Barack Obama made nearly $2.5 million in 2008 from the sales of his two best-selling memoirs, according to tax information released by the White House on Wednesday.
 

Obama jointly filed his 2008 federal income tax return with his wife Michelle, reporting an adjusted gross income of $2,656,902 and paying $855,323 in federal income tax and $77,883 in state income taxes, the White House said.
 

Obama's books, "Dreams From My Father" and "The Audacity of Hope: Thoughts on Reclaiming the American Dream", were New York Times best-sellers and have sold hundreds of thousands of copies in the United States and around the world.
 

Obama earned $2,479,648 from the sales of his books in 2008, according to the tax return, when as a U.S. senator from Illinois he campaigned to become the 44th president of the United States.
 

The president and first lady also reported donating $172,050 -- or 6.5 percent of their adjusted gross income -- to 37 charities. The largest reported donations were $25,000 gifts to CARE, an anti-poverty group, and the United Negro College Fund.
 

The White House also released tax information for Vice President Joe Biden and his wife Jill, who reported an adjusted gross income of $269,256 and an after-tax income of $183,315. The figures included royalties from the vice president's memoir "Promises to Keep".
 

The 2008 tax returns of the president and the vice president were released on a day when millions of U.S. taxpayers faced the dreaded April 15 deadline to submit their federal returns or suffer penalties for late submissions.
 

Obama promised Americans on Wednesday to reform what he called the "monstrous" U.S. tax system, saying it was far too complicated for most to understand.
 

Obama's attempts to form his Cabinet after being sworn into office on Jan. 20 were bedeviled by some of his nominees' tax problems.
 

First his Treasury Secretary Timothy Geithner and then his Health Secretary nominee Tom Daschle admitted late payment of some income taxes. Daschle later withdrew his nomination, but the new nominee, Kathleen Sebelius, governor of Kansas, has also had to settle tax errors.

Date created : 2009-04-16

COMMENT(S)