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

[DirkdenHartogNL]

And if you believe that I am the King of Siam.

Better check their Zurich accounts.

On second thought, DON'T ./........thats where I have my nest egg of 20 years of taxfree contracting overseas stashed.

[wm1066]

How about that mansion in Paraguay!

[offred]

Yes, that mansion and compound in Paraguay that are in little Barbara's name. Big Barbara's bought a compound in Saudi Arabia. You know they anticipate trouble when they sign the real estate over to the ladyfolk.

[billythekid888]

When they leave office they will be well rewarded!!!!!!!!!

[skip4Obama]

execuse me....I need to throw up here as we fight a war for what reasons...cause bush cheney want one! I so need to believe they will be out of office soon! and certainly not replace them with "100 year War in Iraq Mcbush"

[BigLib]

Peanuts compared to the mega-wealthy Clintons.

[offred]

That's just earnings for this year. No way the Clintons' total asset value equals that of Bush or Cheney. The Bush family has been raking in dishonest money for over 100 years (google Prescott Bush + Nazi banking + Averell Harriman). Cheney is still raking in money hand over fist from his affiliation with war profiteers Halliburton and KBR.

Besides, though I'm not a fan of the Clintons, I'm willing to acknowledge they both work for their money. Bush was born on third base and hasn't put in an honest day's work since he entered office.

Cheney isn't interested in the money. He labors for love of the great satanic god Oil.

[billythekid888]

Dear Rep / Senator,

The Bush Administration has committed so many high crimes and misdemeanors that it is beyond the scope of this letter to cite these violations of law.
The Bush Administration has damaged America’s reputation in the world beyond repair. America is no longer considered “good." America will now be remembered as “hypocrites of torture,” and “a force of evil.”
Now our economy is in severe recession because of failed political and economic policies of this Administration.
As a member of Congress you swore an oath to uphold the Constitution of the United States of America.
It is your duty to impeach President Bush, Vice President Cheney, Secretary of State Rice, Attorney General Gonzales and members of this Administration who have participated in criminal activity immediately.
Failure to impeach means you are in violation of your Constitutional oath.
Which is it?
As a tax paying citizen and registered voter, I demand an explanation. I want to see articles of impeachment introduced now!
If you are in violation of your Constitutional oath; then the Constitution of the United States of America is dead!
If you refuse to act out of fear, cowardice or for other reasons, I will see you voted out office and replaced with a 3rd party candidate.
We elected you to represent us, the common citizen. Make us proud this one time. Hear our cry of patriotism and introduce impeachment articles against this Administration.
Sincere Regards,

[shortgirl]

Ditto and Amen but don't hold your breath. They are spineless.

[alaintex]

What a manifesto.

I don’t see how this could possibly be overlooked by congress. I’m sure they will act as soon as they agree on a high crime or misdemeanor that violates a law.

Here’s a suggestion to help them out. The first sentence lacks specificity. Since there are so many to choose from, why not indicate just one.

[billythekid888]

I have a better idea "tex"

why don't you add that into your letter when you send it to your rep. and senator.

make a difference.

[bdl0715]

Just so you know, Senators can not bring Articles of Impeachment. Also Articles of Impeachment are at the discretion of Congress, they are not legally required to bring them up.

[billythekid888]

Exactly that's why it says Rep.

but the Rep's need the support of the moral support to launch. And yes, they are legally required to bring them up.

Otherwise I would assume you'd have us living in under divine right kings rule?