It pays to be president -- Obamas raked in $5.5 million in 2009


Recession? What recession? The President made more than double in 2009 than the previous year, due in large part to residuals from his books.

President Barak Obama and his wife Michelle jointly reported a 2009 adjusted gross income of $5,505,409, nearly double the $2.7 million income reported in 2008.

Most of that income came from sales of Obama's books, "Dreams from My Father: A Story of Race and Inheritance," and "The Audacity of Hope: Thoughts on Reclaiming the American Dream."

The President and First Lady paid $1,792,414 in federal income tax. The Obamas also donated $329,100 to 40 different charities, including $50,000 to CARE and the United Negro College Fund, and gave $1.4 million received for winning the Nobel Prize funds to 10 charities.

The Nobel prize money wasn't included in his total income, as he asked officials to donate it directly to charity. Sadly for Obama, no charitable deduction was allowed on the prize money because it wasn't included in his income. The Obamas also paid Illinois $163,303 in state income taxes.

Trailing far behind the Obamas, Vice President Joe Biden and his wife, Jill, reported adjusted gross income of $333,182 last year. They paid $71,147 in federal taxes, $12,420 in Delaware income taxes and $1,477 in Virginia income taxes. The Bidens gave $4,820 to charity.

Originally published
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