Bushes Pay Taxes on $923,807 Income

WASHINGTON — The federal tax bill for President Bush and his wife: $221,635. That's how much the Bushes owed on their adjusted gross income of $923,807 for the year 2007, according to a joint return released Friday. The Bushes have paid $203,894 so far, which means they'll need to break out the checkbook _ they owe the government $17,741.

Their income total includes a $150,000 advance received by Laura Bush for the children's book she co-authored with her daughter, Jenna.

Last year, the president and Mrs. Bush paid $186,378 in federal taxes on their income of $765,801.

Bush's salary as president is about $400,000.

Almost 29 percent of the Bushes' income comes from interest on investments. The largest share of that interest was paid out from one place, The Lone Star Trust, according to the return released by the White House.

The White House also reported that Vice President Dick Cheney and his wife, Lynne, had an adjusted gross income of $3.04 million in 2007.

The Cheneys owed $602,651 in federal taxes on that income. They have paid $466,165 through withholdings and estimated tax payments, and will pay the remaining $136,486 upon filing their tax return.

The Cheneys' income includes the vice president's salary and a pension he gets as a former director of Union Pacific Corp. It also includes Lynne Cheney's book royalty income, a salary from her work at the American Enterprise Institute and a pension she gets as a former director of Reader's Digest.

The vice president's salary is about $212,000.

Mrs. Bush donated all net proceeds from her book advance to Teach for America and The New Teacher Project, according to the White House.

The Bushes contributed $165,660 to churches and charitable organizations, including the volunteer fire department in Crawford, Texas, where they own a ranch. The Cheneys donated $166,547 to charity in 2007, the White House said.

Comments

[CharltonHestonsGUN]

Why anyone would pay withholding tax is beyond me.

[BeyondGoodAndEvil]

It certainly doesn't make any sense does it?

[StanDaMan]

That's just their "reported" income. What about the kickbacks and other perqs from the oil companies, defense contractors, Halliburton, Bechtel, Blackwater et al.? What about Bush and Cheney's shares of the unmetered oil plundered from Iraq during the first 9 months of the war? Bush and Cheney's total unreported take must be in the hundreds of millions, if not in the billions. Anyone with half a brain (like the prezidunce) knows that the main reason why Bush, Cheney and their cronies attacked Iraq was for the cash.

[hoopesaz]

Yea, nice. Step up with the proof and we'll talk. Really...a guy that dumb couldn't outsmart a genious like you and find away to hide that income, could he?

[99hockeyman]

He is not hiding it genius. He has hired someone to hide it for him. Bush could not spell cat if you spotted him the c and t.

[BeyondGoodAndEvil]

This is income that's declared. Of course, numbered offshore accounts aren't included.

[oregonrain]

Neither are all the dead soldiers that these two made so much money on . It makes me sick .

[hoopesaz]

Clinton's appear to have made about 50 times more money on the "dead soldiers" than has Bush. Bill isn't running around speaking about great cookie recipies.

[MrRex]

Looks like they won't worry about $4.00 a gallon gasoline, or the cost of health care, or food, or anything else us "mortals" stay up at night thinking about. Oh to be a politician who has sacrficed so much for his country.
When will this abusive nightmare end????

[hoopesaz]

Obama and Clinton both out-earned Bush. The nightmare ends when you wake up, btw.

[vippy]

And that is probably not all of it. I am sure they have theirs stashed away in a Swiss Bank Account.
A slap in our faces.

[The 13 Colonies]

Bush and Cheney have put new meaning to the word CORRUPTION­!!!!!!!!!!­!!!!!!!!!!­!!!!!!!!!!­!!!!!!!!!!­!!!!!!!!!!­!

[oregonrain]

A swiss account ? LOL .. Try Dubai ........

[hoopesaz]

Actually, tax returns only require you to report income, not savings. Being a liberal, you might not have had the opportunity to file a tax return before. Hope that helps clear up any confusion.

[glitz]

How is it that most politicians are multi-millionaires? When you look at their salaries from their "public service" it is nothing compared to their total income. It can only be traced to outside influence and constant benefit from their positions. While they are in office the acceptance of these funds can only be considered bribe, gratuity, baqshish!! Active duty military, at retirement can not work for a corporation that had anything to do with contracts that officer worked, for a minimum of five years and more depending on the amount of the contract. These "public servants" not only leave service to work for corporations...they awarded those contracts when they were in office. Conflict of interest is no longer a crime with this administration..or, for that matter, abuse of power.

[noneIn2008]

Conflict of interest for politicians has not been a crime for decades. Without term limits the power and corruption grows. How many people get a $10million advance on a book? How about reporting contributions to Presidential libraries - we would be stunned.

[fredamae]

"How is it that most politicians are multi-mill­ionaires?"

i believe thats, in most cases, the ONLY reason they "get" elected. i would like to know how many politicians, representing "us", are NOT rich and corrupt.

[hoopesaz]

Yea, did you see the returns for Obama and Clinton? TALK ABOUT MONEY!

[rexspam]

That we know of...Crooks. I wish we could tax them on lives lost during his tenure...but it'd be okay cause they have the $ to pay that whopper too. IMHO a prez should have the money we pay him in the bank, nothing more or theyre a crook.

[hoopesaz]

By that definition both Obama and Clinton will be the next Crook in Chief.

[Snowspot]

The joke is on him though, since he devalued the dollar he doesn't have as much -_-

Im assuming he keeps his money somewhere else, out of the country, where he doesn't have to report it.

[nicho]

Too bad they don't have to report what they steal.

[KBAR]

In January 2006 Hillary Clinton's New York Senate 2000 campaign was fined $35,000 for failing to accurately report $721,895 in contributions.

[hoopesaz]

Shhhhhhhh. Quit talking about that. Nobody here wants to talk about liberal corruption. Nothing to see here. Move along.

[serialcoma]

Judas bush betrays the USA.. every dollar drips with the blood of Amercian citizens.

[PierreLeClerke]

Their room and board will be at the expense of the taxpayers for the rest of their natural lives.

[fignozzle]

one can only HOPE!

[lobear00]

Can one really believe anything that comes from the mouths of Thiefs and Liars.

[aristippe]

Dude how did Cheney only manage to rake in 3 million when his net worth is estimated between 60 and 100 million? he's got to get some kind of income from that cash

[templestark]

the numbers show the uselessness of tax returns - or reporting on them. this "article" gives the false impression that the Bushes are poorer than the Obamas. There needs to be better reporting here at Huffington Post. Wait, did i just ask for original reporting at Huffington Post? My bad. ...

[fedup07]

Bush's salary is $400,000 a year for doing nothing but ruining our country, helping Big Oil and the Defense Industry reap $$$ BILLIONS quaterly, for murdering millions of Iraqis and thousand of US troops. Disgusting!

Hmmmm- they also fail to mention all the overseas money that BushCo and Tricky Dick II Halliburton Cheney have in foreign accounts...oh, that's right -they don't pay taxes on THAT money!!!

[KBAR]

If they didn't then that's TAX FRAUD! The IRS pays a 10% recovery bounty for turning in tax cheats. Why don't YOU step right up and turn them in if YOU know so much about their ill gotten gains?

[PierreLeClerke]

Don't be so naive, just one tip of the iceberg is the Library doners list . These are professional criminals with a staff of lawyers playing a shell game you could never begin to imagine. That, "my friend" is the reality of a corporate America.

[neocon43]

Obamas is for doing absolutely the same thing.

[mellene]

Two corporate type slimeballs--they deserve any punishment we can give them. They've ruined America's good name and driven the country into a black hole of despair.