The following information is from an April 2008 White House press release, "President and Mrs. George W. Bush reported taxable income of $719, 274 for the tax year 2007. This resulted in a total of $221,635 in federal income taxes paid by President and Mrs. Bush. "
The statement lists the bush’s sources of income as:
1. Presidential salary..........$400K
2. Book deal.....................150K
3. Trust Funds....................?
$400K plus $150K equals $550K. Total income is stated as approximately $719K.Trust fund income is, therefore, $169K.
Senator Obama's current position is, "Families making more than $250,000 will pay either the same or lower tax rates than they paid in the 1990s. "
After leaving the presidency w’s retirement pay is currently established at $191K. In 2007 W drew less than that ($169K) from his trust fund and will apparently qualify for a tax cut.
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