The White House just posted word that President Obama and first lady Michelle Obama filed 2011 tax returns showing an "adjusted gross income of $789,674" and that they paid "$162,074 in total [federal] tax." That works out to about 20.5 percent of the AGI.
About half of the first family's income was from the president's salary. The rest came from royalties generated by his books. According to the White House:
Democrats lost no time in attacking the budget plan House Republicans introduced Tuesday. The plan saves money by overhauling Medicare, but Democrats argue it will destroy the program.
One of the Democrats leading the charge is Vice President Joe Biden. Taking on the role of candidate, Biden was in Coconut Creek, Fla., giving the second in what he promises will be a series of campaign speeches challenging the Republicans.
Vice President Joe Biden wears a lot of different hats in the Obama administration. He's a longtime Senate insider who can negotiate with Republican Senate leader Mitch McConnell. He's a foreign policy veteran who helped to lead the transition in Iraq.
And one other thing to keep in mind, whenever there's idle political gossip about replacing Biden on the ticket with Hillary Cinton: He serves as a kind of White House ambassador to the middle class.
Would President Obama swap Joe Biden for Hillary Clinton on his 2012 ticket? NPR's Political Junkie Ken Rudin is dubious. "Where this comes from I do not know," he declared in his Monday column dismissing the speculation about any plans to replace Biden.