President Obama may want to think twice about that sequester pay cut. His tax returns, released Friday, show that his main source of income -- which used to be royalties from the sale of his books -- is now his presidential salary. A salary that is now just 95 percent of what it once was.
According to the U.S. and foreign source income summary included with Obama's 2012 returns, his business (a.k.a. book-writing) earned $273,739. That certainly looks great, but not so much when you consider that he makes just under $400,000 at his day job.
This is the first year since he was elected that Obama has made more as a public servant than as an author. In 2008, tax returns show, his business earned $2.6 million. In 2009, that more than doubled to $5.7 million. The numbers came back down after that: $1.57 million in 2010, then $487.928 in 2011. Now it's just $273,739.
Take note, Hillary Clinton: writing is a rough, rough business.
This article is from the archive of our partner The Wire.
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