Obama Pays Tax Rate of Only 19.6%

(Bloomberg) – President Barack Obama and his wife, Michelle, reported adjusted gross income of $477,383 for 2014, down 0.8 percent from last year, according to tax returns released Friday by the White House. The Obamas paid $93,362 in federal taxes for an effective income tax rate of 19.6 percent. They made most of their income from the …

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