April 18th, 2011
04:12 PM ET
WASHINGTON (CNN) - There are a lot of perks to being President of the United States, unfortunately avoiding taxes is not one of them. On this tax filing deadline day President Barack Obama and Vice President Joe Biden made public their tax returns.
The president and Mrs. Obama filed a joint return declaring a gross income of $1,728,096. They paid $453,770 in taxes for 2010. Most of the Obamas income surprisingly comes not from being president, which was just under $400,000, but instead from proceeds from the books the president has authored. The Obamas supported dozens of charities from The Boys and Girls Clubs of Greater Washington to the Clinton Bush Haiti Fund to the Fisher House, a public private group that supports the needs of wounded military and their families. They donated $245,075 or 14% of their income to charity. The Obamas also deducted just under $50,000 interest paid on their mortgage, not 1600 Pennsylvania Avenue but their Chicago residence.
The Bidens are making less than a quarter of the Obama's income declaring a gross income of $379,178. They paid $86,626 in federal taxes. On the charitable front the VP donated a lot less than his boss for a total of $5,350 to charity, just about 1.5% of his income. Monday the vice president's office issued this statement to CNN regarding their charitable contributions, “The charitable donations claimed by the Bidens on their tax returns are not the sum of their annual contributions to charity. They contribute to many causes with their time, as well as their checkbooks.”
The White House is also touting a new feature on it's website this tax day called "Your Tax Receipt." You can enter some information about yourself and actually see just where the taxes you personally pay are going. It's an app that shows for instance how much of your taxes go to Medicare, or veteran's benefits or social security among other programs.
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