American President Barack Obama and his wife Michelle reported about $600,000 (about N90million) in income last year and were taxed at the rate of 18.4 percent, the White House said Friday.
It noted that Obama has called for a 30 percent tax rate for wealthier Americans like himself.
Two-thirds of the $608,611 in adjusted gross income reported by the Obamas came from the president’s salary of $400,000 (about N63m) a year.
The overall figure is down from 2011, when the couple made nearly $800,000, thanks in part to proceeds from book sales.
The Obamas also paid nearly $30,000 in state taxes in Illinois, where they own a home in Chicago, and donated $150,000 to charity last year, said White House spokesman Jay Carney.


Carney also noted that Obama supports the so-called “Buffett Rule” — a minimum 30 percent rate for individuals making more than a million dollars a year.
Named after billionaire investment wizard Warren Buffett — who famously complained he paid a lower effective tax rate than his secretary — the idea has been rejected by Congress, where Republicans opposed to higher taxation control the House of Representatives.
“Under the President’s own tax proposals, including limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it,” Carney said in a statement.
Vice President Joe Biden and wife Jill, who works as a university professor, reported $385,072 in adjusted gross income in 2012 and paid $87,851 in taxes, the White House said.
[/b]President Obama pays for his own expenses out of his $400,000 annual salary, including food, drinks, and dry cleaning. The president is presented with a weekly menu, and they buy the groceries.[b] It is so for all American presidents

http://www.informationng.com/2013/04/white-house-declares-the-obamas-2012-income.html

That is a country governed by conscience and moral rectitude.

Our jonaa too is doing same na ! Abi Una no see budget well,i hail naija.Hope someday we start giving a darm.

I'm seriously am impressed, That's to show how far they've have gone in the world of democracy!....

God knows when Naija would attain this level of organization.

ayolinger: I'm seriously am impressed, That's to show how far they've have gone in the world of democracy!....

God knows when Naija would attain this level of organization.

^^^I'm impressed as well! Even a semi-illiterate local gov't chairman in this country earns more than the Obamas, and pays next to nothing in taxes.

This country is one big scam and is in the clutches of greedy avaricious thugs!

Am not being saddistic. I voted GEJ cuz he was shoeless a couple of years back. Today, he will not freely declare his assets, why? Without a bestseller written in his name; an invention to his credit; an inheritance; any known huge income stream that is not political; without all these it would seem declaring his asset will be easy, not so. Even his wife's net worth is ten times the Obama's.

I wonder how our polthiefcians feel when they read stories like this. Oh! I forgot,they have no concience. Imagine, Obama pays his own bills from his salary while our hat wearing oga at the top here approves 1billion naira for his food,that of his vice and their families. Smh!

IGBO-SON:


^^^I'm impressed as well! Even a semi-illiterate local gov't chairman in this country earns more than the Obamas, and pays next to nothing in taxes.

This country is one big scam and is in the clutches of greedy avaricious thugs!

I couldn't agree more with you bro...

President Obama pays for
his own expenses out of his
$400,000 annual salary,
including food, drinks, and dry
cleaning. The president is
presented with a weekly menu,
and they buy the groceries. It
is so for all American presidents

63.16millionnaira for president barrack Obama per annum? Including all allowances?

This clearly defines the difference between Democracy of the US and our own Kleptocracy!

American President Barack
Obama and his wife Michelle
reported about $600,000 (about
N90million) in income last year
and were taxed at the rate of
18.4 percent, the White House
said Friday.

DAKAR (TrustLaw) – Nigerian
President, Goodluck Jonathan,
should publicly declare his assets
to demonstrate that he is serious
about fighting corruption and
instituting good governance in
the country, a Nigerian
newspaper said on Wednesday.
“The essence of this is to
demonstrate and promote
transparency and anti-corruption
tendencies,” the Daily Trust said
in an editorial.
http://www.trust.org/trustlaw/news/paper-urges-nigeria-president-to-declare-assets

I thought we use the US style of democracy, only we forgot to add the demo. Crazy country