President Barack Obama’s
tax return shows that he and first lady Michelle Obama earned nearly
$800,000 in 2011 and paid a federal income tax rate of 20.5 percent.
The
White House released the tax returns of the Obamas as well as those of
the vice president and his wife ahead of next Monday’s filing deadline,
capping off a week of campaigning for the Buffett rule, which would set a minimum income tax rate of 30 percent for Americans earning more than $1 million annually.
Obama’s campaign immediately followed the release by calling on Mitt Romney to follow the Democrats’ lead and to release his own tax returns.
