From the AP
President Bush and his wife paid $221,635 in federal taxes on an adjusted gross income of $923,807 for the year 2007.
The 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.
Also Friday, the White House 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.
