President and Mrs. Obama, as well as Vice President and Dr. Biden, joined the ranks of all Americans today by filing their 2008 income tax returns on time. In total, the first couple had a joint income of $2,736,107 while the Bidens had a joint income of $269,256.
The Obamas paid $855,323 in federal income taxes while the Bidens paid $46,952.
The majority of the Obamas income came from book proceeds totaling $2,479,648 during the campaign year. Vice President Biden earned $9,563 in audio book royalties.
The president resigned from the Senate shortly after the general election and therefore his Senate salary is not a full year's amount. Mr. Obama brought home $139,204 from the taxpayers, while Biden, who did not resign his Senate seat until January 2009, earned $165,526.
Another glaring comparison can be made between the couples' charitable giving. The Obamas donated $172,050 in 2008 to charities including Care and United Negro College Fund, among others. The Bidens donated $1,885 to charity and the official release explains, "The charitable donations claimed by the Bidens on their tax returns are not the sum of their annual contributions to charity. They donate to their church, and they contribute to their favorite causes with their time, as well as their checkbooks."
First Lady Michelle Obama earned $62,709 from her work at the University of Chicago Hospital while Dr. Jill Biden earned a salary of $67,840 as an educator.
Here are the returns as released by the White House (all in PDF format):
The Obamas' Federal 1040 Form
The Obamas' Federal 709 Form
The Obamas' Illinois Tax Return
The Bidens' Federal 1040 Form
The Bidens' Delaware Tax Return