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President’s Income Tax Return Made Public

Posted by wlpo on April 13, 2012

WASHINGTON (AP) – President Barack Obama and his family paid more than $160,000 in federal taxes last year.

The president’s 2011 federal income tax return shows reported adjusted gross income of about $790,000 last year. About half of the first family’s income is the president’s salary. The White House says the rest comes from sales of Obama’s books.

Obama’s effective tax rate is just above 20 percent – lower than many Americans who earn less.

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