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Obamas earn $2.7 mln in 2008

Published: 15/04/2009 05:00

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U.S. President Barack Obama and his wife Michelle made nearly 2.7 million U.S. dollars last year, the White House announced on Wednesday.

U.S. President Barack Obama and his wife Michelle made nearly 2.7 million U.S. dollars last year

According to the 2008 federal income tax returns released by the White House, the president and the First Lady reported an adjusted gross income of 2,656,902 dollars, and paid 855,323 dollars in federal income tax.

The vast majority of the Obama family’s 2008 income is the proceeds from the sale of the president’s books, “Dreams From My Father” and “The Audacity of Hope,” whose sales value reached almost 2.5 million dollars in the presidential election year.

Although their earning is far more than the U.S. median household income, at about 50,000 dollars, it is much less than what the Obamas made in 2007, at 4.2 million dollars.

The couple, who just moved in the White House from Chicago early this year, also released their Illinois income tax return and reported paying 77,883 dollars in state income taxes.

VietNamNet/Xinhuanet

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