US President Barack Obama’s 2009 Income Tax return has been published online. On 15 April, the tax return deadline day for all U.S. citizens, the details of Mr. Obama’s tax return were officially released by the White House. It makes interesting reading.
The return tells us that the President earned over $5 million in 2009 from his activities as an author. His books “The Audacity of Hope” and “Dreams from My Father” have sold in massive volumes worldwide.
President Obama’s gross earnings from this source amounted to $5,661,666, against which he claimed deductions for $471,022 in “commissions & fees”, $866 for “office expenses” and a princely $279 for “other expenses”. The President’s total tax bill for 2009 amounted to $1,792,414, or about 32% of his income.
His bill would have been a lot smaller had Mr. Obama been in a position to use the Irish tax exemption for authors of “original and creative” works. Frankly, I am surprised Bertie Ahern forgot to tell him.