The Obamas Care: Barack and Michelle gave nearly 25% of their income to charity in 2012

[UrbScotty]

President Obama released his 2012 federal income tax return today, with he and first lady Michelle Obama filing jointly and reporting adjusted gross income of $608,611. The Obamas paid $112,214 in total tax.

They reported donating $150,034 – or about 24.6 percent of their adjusted gross income – to 33 charities. The largest reported gift to charity was $103,871 to the Fisher House Foundation.

Obama's effective federal income tax rate is 18.4 percent and Press Secretary Jay Carney noted Obama has proposed policies like the Buffett Rule to require the wealthiest Americans to pay more. Under Obama's proposal, Carney said, including limits on the value of tax preferences for high-income households, Obama would pay more in taxes "while ensuring we cut taxes for the middle class and those trying to get in it."

The first couple also released their Illinois income tax return and reported paying $29,450 in state income tax.

http://www.newsobserver.com/2013/04/12/2820848/obama-and-biden-release-tax-returns.html