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Obama Tax Return Shows Income Decline

  • VOA News

President Barack Obama and Michelle Obama wave to guests after their dance at the Inaugural Ball at the 57th Presidential Inauguration in Washington, Jan. 21, 2013.

President Barack Obama and Michelle Obama wave to guests after their dance at the Inaugural Ball at the 57th Presidential Inauguration in Washington, Jan. 21, 2013.

U.S. President Barack Obama made less money in 2012 than in any other year since taking office.

Obama released his federal income tax returns to the public late Friday, showing he and first lady Michelle made more than $600,000 last year, with about $260,000 coming from the president's book sales.

The Obamas paid $112,214 in 2012 taxes, which is an 18.4 percent tax rate. They donated almost one-quarter of their income to charity, which helped to lower their overall tax bill.

April 15 is the deadline for Americans to file their 2012 tax returns.
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