So as obama preaches that the rich don't pay enough tax he and the queen take advantage of every tax break they can and get their rate down to 18.4%, what a hypocrite!
"Obama, who renewed his call for higher taxes on the wealthy in the budget he released Wednesday, paid $112,214 in taxes last year, putting his effective federal tax rate at 18.4 percent. The Obamas donated almost one-quarter of their income to charity, according to tax returns released by the White House.
Most of the $608,611 that the Obamas reported in adjusted gross income came from the president's salary, as he reported $394,840 in wages. An additional $258,772 came from royalties from his books, including his 1995 memoir "Dreams From My Father," his 2006 political book, "The Audacity of Hope," and a 2010 children's book, "Of Thee I Sing: A Letter to My Daughters."
"Itemized deductions of $258,385 brought the Obama's taxable income down to $335,026. The first family deducted $45,056 in interest on the mortgage for their home in Chicago, plus $36,554 in state and local taxes and $26,751 in real estate taxes."
Obama, first lady earned less than 2012 than prior years in office, paid $112k in income taxes | StarTribune.com