Obama’s 2011 tax returns wouldn’t fall under the Buffet Rule

• $789,674 in income for Obama during 2011, according to his just-released tax returns released Friday
• $162,074 the amount the president paid in taxes on that income, which is a 20.5 percent tax rate source

» A dip from prior years: Obama’s taxes show a dip in income from his book sales — which earned him millions of dollars in prior years — to the point where it makes up roughly half of his income in 2012, with the other half coming from his presidential salary. The president, it turns out, made under the $1 million in income that would force him to pay higher taxes under his proposed “Buffett Rule.” Obama certainly isn’t struggling, though his income doesn’t compare to what his likely GOP competitor, Mitt Romney, has made in recent years. In other news, we’re betting this post is reminding you that you forgot to do your taxes. Better get on that!

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