Obamas Paid 20.4% in Taxes on $481,098 of Income in 2013

Bloomberg reports:

President Barack Obama and his wife, Michelle, reported adjusted gross income of $481,098 for 2013, down 21 percent from last year, according to tax returns released today by the White House.

The Obamas paid $98,169 in federal taxes, including $2,310 imposed by the 2010 Affordable Care Act that he signed. That’s an effective income tax rate of 20.4 percent.

“In 2013, as a result of his policies, the president was subject to limitations in tax preferences, as well as additional Medicare and investment income taxes, for high-income earners,” Press Secretary Jay Carney said in a blog post on the White House website.

The Obamas aren’t affected by the higher marginal tax rates that took effect in 2013, because their taxable income is less than $450,000.

Strongman Barack Obama doesn't want to pay his fair share.