Presidential income tax returns - WKOW 27: Madison, WI Breaking News, Weather and Sports

Presidential income tax returns


WASHINGTON (WKOW) -- President Barack Obama and Vice President Joe Biden have released their tax returns for 2012.

The first family saw a slight drop in income last year because sales of the president's books declined.

Their returns show the president and first lady Michelle Obama earned $608,611 last year.

Obama is paid $400,000 as Commander-in-Chief.

The Obamas paid a little over $112,000 in taxes.

Vice President Joe Biden and his wife Jill reported income of just over $385,000.

They paid almost $88,000 in taxes, according to their returns.

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