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April 13, 2015

Obamas' Tax Returns Shows 15% of $477,000 Income Donated

President Obama and first lady Michelle Obama gave $70,712 to charity in 2014, 14.8 percent of their reported income of $477,383, according to tax returns disclosed by the White House on Friday, The Washington Post writes. The largest donation was $22,012 to the Fisher House Foundation, which provides low-cost housing for the families of military personnel undergoing medical treatment and to which the first couple has given in past years.

The Obamas paid $93,362 in income taxes for an effective tax rate of 19.6 percent. Most of their income came from Mr. Obama's salary, with royalties from his two memoirs down significantly from the early years of his presidency. Vice President Joe Biden and his wife, Jill Biden, reported $7,380 in donations last year on total income of $388,844.