Obamas paid 20.5 percent tax rate, according to returns

President Obama and the first lady paid $162,074 in taxes last year on $789,674 in income, according to tax returns released Friday. 

The White House used the release to tout Obama’s tax proposals, which it said would actually increase the Obamas’ personal tax bill. The Obamas ended up paying an effective federal tax rate of 20.5 percent this year, but would pay a higher rate under the president’s proposal.

“Under the president’s own tax proposals … he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it,” said press secretary Jay Carney.

The returns were released as the White House pushed hard for Congress to pass the “Buffett Rule,” which would ensure people with $1 million in annual income would pay at least as high a tax rate as middle-class taxpayers.

The first couple earned roughly half their income from the president’s salary, with the other half coming from the sales of his books. 

They donated about 22 percent of their income — $172,130 — to 39 different charities. The largest donation was a $117,130 gift to the Fisher House Foundation. The president agreed to donate the proceeds from his children’s book, “Of Thee I Sing,” to the scholarship fund, which helps cover education costs for children of fallen and disabled soldiers.

The Obamas also paid $31,941 in Illinois state income tax.

Vice President Biden and his wife reported a combined income of $379,035, and paid a total of $105,357 in federal taxes and state taxes in Delaware and Virginia. The Bidens paid a higher tax rate than the Obamas, at 27.8 percent rate. 

The Bidens donated $5,540 to charity in 2011, which is 1.46 percent of their income.