Interesting report on America's First Family, taxes and philanthropy.
Obamas: $5.5 million income, $1.8 million tax bill
By CHARLES BABINGTON, Associated Press
WASHINGTON – Thanks to revived book sales after he became president, Barack Obama and his wife, Michelle, made $5.5 million last year. They paid about one-third of it in federal income taxes.
The Obamas gave $329,100 to charities in 2009. The president, who released his tax returns Thursday, also donated his entire $1.4 million Nobel Peace Prize award to 10 charitable groups. He never received the $1.4 million, and it was not included in his 2009 income.
Obama, a former law school instructor and U.S. senator, became a millionaire a few years ago through sales of his 1995 memoir "Dreams From My Father" and his 2006 political book, "The Audacity of Hope." He earned about $4 million in royalties in 2007, the year he launched his presidential campaign.
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