President Obama and his wife, Michelle, reported adjusted gross income of $789,674 in 2011 and paid just over 20 percent of it to the federal government in taxes.
Their income declined nearly $1 million from the previous year, when the president was reaping larger amounts from sales of his bestselling books.
Mr. and Mrs. Obama paid $162,074 in income taxes, an effective tax rate of 20.5 percent. In a statement, the White House suggested that Mr. Obama believed that he should pay a higher rate, noting that his administration wants to reform the tax code and ask “the wealthiest Americans to pay their fair share while protecting families making under $250,000.” Mr. Biden and his wife, Jill, reported adjusted gross income of $379,035 and paid $87,900 in federal tax, an effective tax rate of 23 percent. That is roughly the same as what the couple reported last year.