In 2009, the Obamas made $5,505,409, as Mr. Obama's book sales boomed over his election and inauguration. That year, the Obama family paid $1.8 million in taxes.
A year later, the President made less than what he paid in taxes a year before. Embroiled in nearly constant controversy and plummeting popularity, President Obama and his wife made $1,728,096 last year. That total was mainly from the sale of Mr. Obama's books.
As a result, the Obamas paid $453,770 in taxes in 2010.
Specifically, the blame for Obama's fall in book sales (and thus income) is falling on his extremely unpopular stance on his Health Care bill. Going against the majority of Americans, the President pushed through a massive reform to the United States' health care system. Doubling the problem, Mr. Obama refused to take on the US's crippling debt or overall economy while he concentrated on things the American people regarded as much less important.
Americans aren't buying it |
Obama said in a speech last week that top earners -- himself included -- should pay higher taxes.
"I don't need another tax cut," he said. "Warren Buffett doesn't need another tax cut."
Also released was the return of Vice President Joseph Biden and his wife, Jill. Their adjusted gross income was $379,178, on which they paid federal taxes of $86,626.
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