Barack Obama’s successful quest for the White House powered the sales of his nonfiction books, making him millions even as he assumed the presidency, his tax returns show.
As a candidate in 2008, Obama earned about $2.6 million from the sale of his books, “The Audacity of Hope” and “Dreams From My Father,” according to returns the White House released yesterday.
The book sales represented the vast majority of the first couple’s income, although they also reported wages of about $200,000 and a small amount of investment income.
Together, Obama and his wife, Michelle, paid about $855,000 in federal taxes. They would have received a $26,000 refund, but asked that the amount be applied to their 2009 income taxes instead.
Source: Washington Post
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