04-16-2009, 08:51 AM
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Head Coach
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Join Date: Apr 2004
Posts: 14,847
Points: 160,280.61
Bank: 0.00
Total Points: 160,280.61
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Obama’s $855,323 Tax Bill Would Be Bigger Under His Budget Plan - Bloomberg.com
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The administration also released the tax return filed by Vice President Joe Biden and his wife, Jill. It shows they paid $46,952 in federal taxes for 2008 on $269,256 in adjusted gross income. They also paid $1,827 in alternative minimum tax, a levy the Obamas avoided because their income was too high.
The Bidens paid $11,164 in Delaware state income tax.
Biden’s Income
Their income came from his Senate salary of $165,526 and her $67,840 pay from Delaware Technical & Community College. He also received $20,500 from Widener University. Biden, 66, also reported $6,534 in Social Security benefits and $9,563 in royalties from his book, “Promises to Keep: On Life and Politics.”
The Bidens claimed $61,617 in itemized deductions, including $23,561 in state income and property taxes, $37,264 in mortgage interest, and $1,885 in charitable gifts, which included clothing donated to Goodwill Industries in March and May of last year they valued at $550.
Biden was the least wealthy among his Senate colleagues, according to an analysis of financial disclosure reports by the Center for Responsive Politics, a Washington research group. He was criticized during the election campaign last year for giving an average of $369 a year to charity over the past decade while earning a six-figure income.
Other Donations
The vice president’s office said yesterday that “the charitable donations claimed by the Bidens on their tax returns are not the sum of their annual contributions to charity,” and said the couple also donates to their church and gives their time, which isn’t deductible, to charities.
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