Obamas, Bidens Release Tax Returns

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President Barack Obama and First Lady Michelle Obama released their joint 2012 tax return on Friday, reporting an adjusted gross income of $608,611. They paid $112,214 in total federal taxes, with an effective federal income tax rate of 18.4 percent.

Vice President Joe Biden and his wife, Dr. Jill Biden, also released their joint 2012 tax return, reporting an adjusted gross income of $385,072. They paid $87,851 in total federal taxes.

Read the full returns posted here by the White House.

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