Barack Obama, Taxes | featured news

President Barack Obama and his wife, Michelle, are reporting income of $1.728 million for last year, much of it from the sale of the president's books. They paid federal taxes of $453,770.

President Barack Obama, two years into a presidency that increased spending to prime a weak economy, is turning his attention to the nation's crushing debt and trying to counter a Republican anti-deficit plan with a framework of his own that tackles politically sensitive health care programs while also increasing taxes....

President Barack Obama is sending Congress a $3.73 trillion spending blueprint that pledges $1.1 trillion in deficit savings over the next decade through spending cuts and tax increases.

Some investors found reasons to be optimistic in Mr. Obama’s proposal to cut corporate taxes and increase spending for education, innovation and infrastructure.

President Barack Obama said on Monday he had reached an agreement with Republicans on how to extend expiring tax cuts. He said the compromise's provisions including a 2 percent payroll tax cut for next year, extending jobless benefits for 13 months and extending tax cuts for all Americans -- including the wealthiest -- for two years.

President Barack Obama and first lady Michelle Obama made $5.5 million in income in 2009 and paid $1.79 million in federal taxes, according to income tax returns released Thursday.

Just ahead of Tax Day, President Barack Obama is urging Americans to take advantage of tax credits for first-time homebuyers, college students and others.

President Obama’s proposal for a direct tax on banks to pay for future bailouts is gaining momentum in Europe.

President Barack Obama proposed on Tuesday small business tax cuts, fresh infrastructure spending and energy efficiency rebates to boost jobs, but there were few details on the scale or cost of the measures.

U.S. President Barack Obama will keep his promise not to raise taxes on people making less than $250,000 a year, the White House said Monday, rebutting comments by administration officials that indicated otherwise.