The White House has released President Obama’s 2011 tax info just before the filing deadline looms on Tuesday, April 17.
President Barack Obama and his family paid more than $160,000 in U.S. taxes last year.
The president’s 2011 federal income tax return shows reported adjusted gross income of about $790,000 last year. About half of the first family’s income is President Obama’s salary. The White House says the rest comes from sales of Obama’s books.
Obama’s effective tax rate is just above 20 percent, which is lower than many Americans who earn less. Looking to change tax regulations, Obama has made tax-rate fairness an election campaign issue as he seeks a second term.
The copy of the president’s tax return, released by the White House, shows charitable donations of more than $172,000.
President Obama is donating after-tax proceeds from his children’s book to a charity that helps veterans and military families receiving medical treatment.
Meamwhile, President Obama said Republican presidential candidate Mitt Romney should ‘absolutely’ release his tax returns, calling it a tradition among U.S. presidents and candidates, in an interview conducted by Univision in Cartagena, Colombia.
“I think that it’s important for any candidate in public office to be as transparent as possible, to let people know who we are, what we stand for, and you know, I think that this is just carrying on a tradition that has existed throughout the modern presidency,” Obama said yesterday, according to a transcript of the interview released today.