CNN is reporting that “the Obama family, in tax returns released Friday by the White House, reported an adjusted gross income of $789,674 for 2011, down from$1,728,096 in the previous year. The family income topped $5.5 million in 2009.
The president earns a salary of $400,000 for his day job. His total earnings are much higher because his books — “Dreams From My Father,” and “The Audacity of Hope” continue to attract buyers.
The Obamas reported paying $162,074 in federal taxes. They donated $172,130, or 22% of their income, to 39 different charities.”