Obamas File Tax Returns Reporting $477,383 in Gross Income for 2014

US President Barack Obama and First lady Michelle Obama reported on their tax returns that they made $477,383 in 2014, White House Press Secretary Josh Earnest said in a statement on the official White House Blog.

WASHINGTON (Sputnik) — The Obamas earned 9 times more than an average US family. In 2013, the US real median household income was $51,939, according to the US Census Bureau.

“[President Obama] and the First Lady filed their income tax returns jointly and reported adjusted gross income of $477,383,” Earnest said on Friday.

Earnest noted that the Obamas paid $93,362 in total tax and $22,640 in income tax in the US state of Illinois. In addition, they donated $70,712 to 33 different charities.

“The largest reported gift to charity was $22,012 to the Fisher House Foundation,” Earnest added.

Fisher House Foundation manages a network of comfort homes located near medical facilities. Families of US military and veterans can stay in those houses while service members are receiving treatment.

US Vice President Joe Biden and his wife Jill reported that they earned $388,844 in 2014, and paid $90,506 in total federal tax, according to the statement.

Earnest argued the US government needs to close special tax loopholes for millionaires and billionaires, and invest in the middle class.

“The tax policies proposed in the President’s Budget would make paychecks go further in covering the cost of child care, college, and a secure retirement, and would create and expand tax credits that support and reward work,” Earnest noted.

In February 2014, Obama proposed a nearly $4 trillion budget for fiscal year 2016, suggesting tax increases primarily on businesses and the wealthy.