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Than 140 million personal tax filings. chief washington correspondent james rosen joins us now. james, we ll presume you paid your taxes gotten in on time. talk to us about the nation s most prominent taxpayers, the president and the vice president, what them? reporter: rick is a little-known fact because i donated to the significant sownian a damaged capsule that hurt he willed me to from krypton to small farm in small veil i don t personally pay taxes. the nation s chief executive earned $800,000 last year. that is down from his earnings the year before. mr. obama paid a lower effective tax rate, 18.4%, compared to 20.5% the year before. the bidens paid effective tax rate of 1.4%. as it happens tax day arrives this year amid faint signs of possible compromise on capitol hill on never ending epic and epic fails ....
Josh green, this week s issue is the how to issue where some of the foremost leaders in politics and business teach you pretty much everything you d like to know. former governor ed rendell and buzzfeed s ben smith are back with us. when ben is around, you just feel energy crackling. i do. look how grown up he looks in the tie too. we should have interviewed you on how to look professional. i told him i saw him earlier today. i saw you like the 40 under 40, like the top young movers and shakers. i said in fast times, fast company. he s probably been in fast times before. so how to. i ve got a question. i want next year to pay 18.4% in taxes. i want that to be my tax rate. how do you do that? you get yourself elected president and get a damn good accountant. not mitt romney good but just pretty good. good enough. ....
Williams has denied killing district attorney mike mcclellan and wife cynthia, gunned down two months after the murder of the other prosecutor involved in the theft trial. oh, joy, today is tax day, in case you hadn t remembered. and just before the weekend, the white house released president obama s tax returns. the president and first lady filed jointly and the obamas earned more than $600,000 last year. the first couple paid just over 112,000 in federal tax and that means that the president s effective federal income tax rate for 2012 was 18.4%. well, the first family appears to have followed all the rules and some critics are suggesting they have created an image pro sem in the process and that they look hypocritical, given their criticism of the rich, paying these low tax rates. joining me now to discuss it ....
Friday revealed the president only paid 18.4% on an income of over $608,000. with us right now to weigh in, stuart varney. that is a very low tax rate. 18% is extremely low. however, he did this by giving a very large amount of money to charity. the president gave $150,000 to over 30 different charities, including 103,000 which went to fisher house foundation, which provides housing for seriously wounded vets. so he gets the rate down by giving heavily to charity. here s the problem: the president s budget proposes to cap those deductions, including the charitable deductions. so he s doing what he says he s going to restrict in the future. he s got his rate down by doing what he says he s going to cap and limit in the future. that s a contradiction. steve: it is, because, for instance, fisher house, ....
Originally. of course it s tax day today. so we were doing some analysis about what the president will pay in taxes this year. it turns out that his percentage will be around 18.4%. so many people will ask whether or not that s his fair share because much was made in the past election cycle about mitt romney paying a lower tax rate, even though he was a wealthy man. now it turns out that president obama is not really paying the amount that you might think. what do you make of it? well, i don t make much of it. it would be nice if everybody could be down at that level and i guess that would be really an effective aim as far as political people are concerned. get people down to that level. but certainly i wouldn t want to make a big deal out of it. he did make some donations and we attack, but we only want to attack fairly. it would be nice if everybody could be at that level, however. there is no doubt about that. gretchen: you get down to that level because you can if you make a ....