Have you ever wanted to know exactly how much money Barack Obama made in 2013? If so, you're in luck because every year both the President and Vice President are required by law to release their full tax returns to the public. 2013 was an interesting year for Barack. Despite the fact that economy is growing, Barack's 2013 income was the lowest he has earned in nine years! He was down 27% in 2013 compared to the year before! So what happened? Did he slash his salary? Did he make some bad investments? Maybe he bet big on Denver in the Super Bowl??!!
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In 2013, Barack Obama's total income was $481,098. That's down 27% compared to his 2012 income of $662,076. So what caused this drop? The main reason Obama's income is down is because sales of his books are starting to slow down. Over the past decade, the vast majority of Barack's annual earnings have come from royalties earned off the sales of his books "Dreams of my Father" and "The Audacity of Hope". To this day, Barack Obama earns $3.75 for every hardcover copy and $1.12 for every paperback he sells. In 2013, Barack earned $104,000 in book royalties, compared to $258,000 in 2012. His base salary for being the President of the United States was $394,796. He earned negligible amounts from stocks, dividends and bonds. His total income before deductions was $503,183. Barack and Michelle donated a total of $59,125 to various charities last year. It should be noted that one of the perks of being President is that Barack has access to a $150,000 expense account, a $100,000 tax free travel account and $20,000 entertainment budget.
Barack's income might continue to decline for the next two years, but as soon as he leaves the Oval Office it should skyrocket. Right off the bat, he is probably going to earn a $15 million+ advance for the rights to publish his memoirs. He will also earn tens of millions as a public speaker. For some perspective, between 2001 and 2013, Bill Clinton earned $106 million in speaking engagement fees alone!
Vice President Joe Biden and his wife Jill reported total combined income of $407,009 in 2013. Joe earned $230,000 as VP. Dr. Jill Biden earned $82,000 in salary for being a professor at Northern Virginia Community College.
The Obama Family Income History:
- 2000: $240,000
- 2001: $272,759
- 2002: $259,394
- 2003: $238,327
- 2004: $207,647
- 2005: $1,655,106
- 2006: $983,826
- 2007: $4,139,965
- 2008: $2,656,902
- 2009: $5,505,409
- 2010: $1,728,096
- 2011: $789,674
- 2012: $662,076
- 2013: $481,098
Total: $19,706,196
