Obama Tax Returns, 2010

The White House released Obama's tax returns on Monday.

He and Michelle made $1.7 million last year. That's dramatically less than the year before.

From the Associated Press:

He and wife Michelle reported income of $1.73 million last year, mostly from the books he's written, according to his just-filed tax return. That was down from the $5.5 million of a year earlier.

The president, who has been campaigning to raise taxes on the wealthy, paid the government $453,770 in federal taxes, about a quarter of the income. Just last week, he renewed his push to end Bush-era tax cuts for households with annual incomes above $250,000 — noting that that would include him.

The White House released tax returns for the Obamas and for Vice President Joe Biden and his wife on Monday, the deadline for Americans to file.

The president for the first time drew his full $400,000 salary in 2010, since in 2009 he didn't start drawing pay until after his inauguration in late January.

Through withholding and estimated tax payments during the year, the Obamas paid $466,104 to the Internal Revenue Service. That was an overpayment, so they are getting a $12,334 refund.

The first family's adjusted gross income for 2010 was $1.728 million. Their taxable income after deductions was $1.34 million.

TAX THE RICH! TAX THE RICH! TAX THE RICH!

Spread Obama's wealth around. Why should he get to have all that money?

Obama's class warfare rhetoric is at odds with his personal wealth.

When he demonizes the rich, he's demonizing himself.

He should volunteer to give the government more of his money, more than he owes.

He should set an example by showing Americans how great it is to pay more in taxes. He should refuse to accept his refund. Instead of pocketing the $12,334, he should let the government have it. Let the government spend it.

What were Obama's charitable donations in 2010?

They were much more generous than they were before Obama became a national figure.

In 2009, the Los Angeles Times reported:

The Obamas have only recently dug deeply into their own pockets to support charitable causes. In 2002, the year before Obama launched his U.S. Senate campaign, the couple reported income of $259,394 and $1,050 in deductions for gifts to charity, below the national average of $1,872.

So the Obamas gave well below the national average to charities even when their income placed them among rich Americans, by Obama's own definition. Not good.

The Obamas' charitable giving seems to be much more of a political move than a choice based on values.

The president and first lady donated $245,075 — about 14.2 percent of their adjusted gross income — to 36 different charities. The largest was a contribution of $131,075 to the Fisher House Foundation, which provides humanitarian support to members of the United States Armed Forces and their families.

They also made a $15,000 contribution to the Clinton-Bush Haiti Fund and a $10,000 gift to the Boys and Girls Club of America.

Their contributions were below the $329,100 they gave to charities in 2009. That year, Obama also donated his entire $1.4 million Nobel Peace Prize award, which wasn't counted as income since it went directly to 10 charities.

Download the Obamas' tax returns.

Check out the Bidens' tax returns.

Joe Biden and his wife, though paupers compared to the Obamas, are rich.

Vice President Biden and his wife, Jill, reported more modest earnings, a combined adjusted gross income of $379,178, on which they paid $86,626 in federal taxes for 2010.

Withholding from their salaries came to just $79,446 — so they had a tax bill of $7,180 to settle.

In all, the Obamas paid 26 percent of their adjusted gross income in federal income taxes. The Bidens paid 23 percent.

The Bidens paid $14,479 in Delaware income taxes and $3,515 in Virginia income taxes. Jill Biden is an adjunct professor at Northern Virginia Community College. The Bidens contributed $5,360 to charities.

I'm glad to see the Bidens giving more to charities than they did in the past.

Their record of charitable contributions is pathetic.

Take a look:

1998 - $215,432 - $195

1999 - $210,797 - $120

2000 - $219,953 - $360

2001 - $220,712 - $360

2002 - $227,811 - $260

2003 - $231,375 - $260

2004 - $234,271 - $380

2005 - $321,379 - $380

2006 - $248,459 - $380

2007 - $319,853 - $995

Total - $2,450,042 - $3,690

That's embarrassing.
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Video, from the Associated Press: