April 11th, 2008
02:24 PM ET
10 years ago

Bush earned $719,000 in 2007, tax return shows

Bush released his tax returns Friday.

Bush released his tax returns Friday.

WASHINGTON (CNN) - President and Mrs. George W. Bush reported taxable income of $719, 274 for the tax year 2007 and paid $221,635 in federal income taxes, the White House said Friday.

They contributed a total of $165,660 to churches and charitable organizations, including the Crawford (Texas) Volunteer Fire Department, Susan G. Komen For the Cure, Malaria No More Fund, Martha's Table, and a St. John's Church.

Vice President Cheney and his wife earned $2,528,068, the White House said, and owe taxes of $602,651. The Cheneys paid $466,165 in taxes through withholding and estimated tax payments, and will pay the remaining $136,486 upon filing their tax return.

Bush's income included salary earned as president and investment income from the trusts in which his and his wife's assets are held. The tax return also reports a $150,000 advance received by Laura Bush for the children's book she co-authored with daughter Jenna.

Laura Bush donated all net proceeds from the advance to Teach for America and the New Teacher's Project, the White House statement said.

Filed under: President Bush
soundoff (136 Responses)
  1. Brandon from TN

    Is anyone else concerned that the VP made $2.5 million last year? Cheney can put our country into a recession, shoot his friends, and make $2.5 million, and nobody in this country wants to stand up and challenge that. The citizens of this country have lost their control, and their minds.

    April 11, 2008 03:03 pm at 3:03 pm |
  2. Unknown

    And just what is the point of all of this?? I don't get it....

    April 11, 2008 03:04 pm at 3:04 pm |
  3. Johnny Boy

    I guess he doesn't have to report monies he made from Halliburton?

    April 11, 2008 03:04 pm at 3:04 pm |
  4. Ralph

    I think it is good that he has been so generous with charity, but it won't change his fate of eternity in hell.

    April 11, 2008 03:05 pm at 3:05 pm |
  5. woogie

    The presidential tax return is released every year.

    It's just that you people don't pay attention except in an election year.

    Even the Clinton's released their tax returns every year they were in the White House.

    You're the same bunch that didn't know there was an electoral college until 2000.

    April 11, 2008 03:07 pm at 3:07 pm |
  6. Andy J, NY

    Are any of you liberals willing to donate between 20 and 25 % of your income to charity?

    Didn't think so. You liberal-socialist-fascists are so hypocritical it makes me sick.

    I bet the $165,000 given to charity was used more efficiently than the $200,000 + that was given in federal taxes. But yeah, lets tax the rich more so we can give that money to poor people. I believe thats redistribution of wealth, commonly known as COMMUNISM. I, for one, am no commie.

    April 11, 2008 03:07 pm at 3:07 pm |
  7. Patrick

    What's great is that he gave 23% of his money away in taxes. That is honorable no matter how you feel about his policies.

    April 11, 2008 03:08 pm at 3:08 pm |
  8. Patrick

    I meant to say charity, taxes were more like 30%...

    April 11, 2008 03:08 pm at 3:08 pm |
  9. Chris

    Common folksy man , arse.

    April 11, 2008 03:09 pm at 3:09 pm |
  10. John

    I wonder now how Bill & Hillary managed to get all that fortune...since, Bush appears not to do well, even as a president-I can only image, what Billary will make once presidents, unless they have find a way to boost their checks

    April 11, 2008 03:12 pm at 3:12 pm |
  11. Ron, TX

    I'm glad to see Bush donated so much to charity. His net wealth is so high that that's a drop in the bucket.

    April 11, 2008 03:15 pm at 3:15 pm |
  12. Ray Ito

    This is a sham!
    No income from oil deals? and a host of other unknown deals?
    Well, the idea of having an honest politician is simply utopian.
    I rest my case.

    April 11, 2008 03:16 pm at 3:16 pm |
  13. Pat, Stratford, CT

    It seems anything is newsworthy today...

    April 11, 2008 03:17 pm at 3:17 pm |
  14. Mike

    CNN posted last week how much the Clintons had given to charity. Unfortunatly 90% of what they gave went to a Clinton charity and not to anybody else.

    It must be nice to be able to get a tax deduction for giving to yourself.

    April 11, 2008 03:17 pm at 3:17 pm |
  15. Drew

    Do you people really think this is all the money Bush has? Dont be naive.

    April 11, 2008 03:17 pm at 3:17 pm |
  16. D.W.; Miami, FL

    Waiting on John McCain and his $100 Million heirress.

    April 11, 2008 03:18 pm at 3:18 pm |
  17. Bryan

    Bush and Cheney must think that we are STUPID. Show us you taxes after you leave office. Their great great great great grand kids will be set for life.

    April 11, 2008 03:20 pm at 3:20 pm |
  18. Jim Wade, IA

    You people seem to be a bit blinded. Their "income" was only $700k this year. That does not mean that is their net worth. You don't own the Texas Rangers without being a millionaire.

    April 11, 2008 03:22 pm at 3:22 pm |
  19. Larry Sinclair

    Has anybody seen anymore about he lawsuit Mr. Sinclair filed agains Obama this month?

    April 11, 2008 03:22 pm at 3:22 pm |
  20. Walt

    The real news is Cheney's Halliburton profits. $2.6 million?!?!

    April 11, 2008 03:22 pm at 3:22 pm |
  21. Scott

    how did VP Cheney make more money than the President?

    April 11, 2008 03:22 pm at 3:22 pm |
  22. George P

    That's nothing...Wait until he gets out of the White House. He has set himself up to make 3 times what Bill Clinton have made.

    April 11, 2008 03:25 pm at 3:25 pm |
  23. woo

    the only question i have is how is the vice pres and his wife making more money than the pres and his wife???????????

    April 11, 2008 03:26 pm at 3:26 pm |
  24. Pat M Canada

    Well now there is money poorly spent and from where I sit, not earned. Ordinary people have a difficult time getting a justified wage for the actual work they do. President Bush on the other hand gets an unjustified wage for the work he didn't do. Go Figure?

    Oh well, nice they donated some to Churches and Charities but wouldn't it have been better if they had donated those monies to the Morgage Crisis and the needy families in America? Seems that would be only fair given President Bush's Iraq war is taking all the surplus that could be used to benefit programs that might aid American Tax Payers. But then as he says, He's The Decider!

    April 11, 2008 03:26 pm at 3:26 pm |
  25. sozzi

    Dick Cheney sure did make a lot of money. He should be investigate, because he has blood on his hands with the young men & women whom died for his OIL cause.

    April 11, 2008 03:26 pm at 3:26 pm |
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