Economy Obamas paid 20 percent of income in 2014 taxes

Obamas paid 20 percent of income in 2014 taxes

obama and wife
President Barack Obama and first lady Michelle

 (AA) – President Barack Obama and first lady Michelle Obama paid a little more than $93,000 on $477,383 of 2014 income, according to tax records released by the White House on Friday.

The figures show the couple was taxed at an effective 19.6 percent rate.

The Obamas claimed roughly $160,000 in tax deductions, including more than $70,000 in donations to 33 charities. The largest donation was a $22,012 gift to the Fisher House Foundation, which supports military families.

The Obamas also paid $22,640 in state income tax in their home state of Illinois.

Vice President Joe Biden and wife Jill paid more than $90,000 in federal taxes on an income of just under $389,000 for an effective tax rate of 23.3 percent. The Bidens also paid more than $13,600 in Delaware taxes, and donated more than $7,000 to charity. Jill Biden also paid $3,777 in Virginia income tax.

The release of the executive tax records comes before the April 15 deadline when Americans will have to pay their annual taxes.

Previous articleArgentina to appeal ruling to compensate France’s Suez
Next articleObama, Rousseff stress infrastructure integration at summit