President & V.P. 2008 Tax Returns

The President and Vice President made public their 2008 tax returns on Wednesday. Here are the key stats:

	President	Vice President
Adjusted gross income	$2,656,902	$269,256
Donations	$172,050	$1,885
Federal Tax Paid	$855,323	$46,952
State Tax Paid	$77,883	$11,164

Most of the President's income, approx. $2.5 million, was from his book sales. The press release states that the Bidens' donations per the tax return of $1,885 don't represent their actual donations. (Perhaps they didn't claim all their donations because because anything deducted on your tax return must be substantiated by documentation, and they did not have receipts. Just a thought.) I noticed the President's return was signed on 4/12, and the Vice President's dated 4/15. Pretty close to the deadline, but I'm guessing their tax preparers didn't tell these clients they were too busy.