President Barack Obama and his wife Michelle have earned in 2010 3.75 million Dollars less than the previous year. The main source of income is earnings from royalties, according to the tax file provided by the White House, reports the British newspaper Daily Telegraph.
Specifically, Obama’s family had last year an income of over $1.7 million and paid taxes totaling $436,000. In 2009, Barack and Michelle Obama earned $5.5 million.
The 2010 revenue from the sale of three books written by the Democratic president – “Dreams from My Father”, “The Audacity of Hope”, and” Of Thee I Sing” – is $ 1.5 million. Nearly $400,000 is the annual salary of the White House leader.
Last year, the presidential family has donated a total of 245,000 Dollars to about 30 charitable organizations.
The President has considerably benefited from the law on low taxes for those with high incomes, enforced in the mandate of his predecessor, George W. Bush. Obama urged the repeal of the law, saying that the U.S. can not allow tax cuts for wealthy people at a time when the budget deficits are high.
The couple pays their taxes in Illinois, where he owns a house, and where they lived before moving to Washington in January 2009. In U.S. the average income per family is 52,000 dollars.