In what is sure to fuel conservative critics of the president’s plan to raise taxes on the wealthy under the so-called “Buffett Rule,” the Whitehouse announced on Friday that Barack and Michelle Obama paid an effective federal tax rate of 20.5% on income of $789,674 in 2011.
The president, along with Vice President Jow Biden, spent much of the past week traveling to promote their argument for the rule, named for the famed investor Warren Buffett.
About half of the first family’s income is the president’s salary; the other half is from sales proceeds of his books. The Obamas paid $162,074 in total tax.
The president and first lady also reported donating $172,130—or about 22% of their adjusted gross income—to 39 different charities, according to the White House. The largest reported gift to charity was a $117,130 contribution to the Fisher House Foundation, a group that houses families of wounded service members.