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

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

[cnn-photo-caption image= http://i.cdn.turner.com/cnn/2008/images/04/11/art.bushtaxes.ap.jpg caption="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. Chris in Va.

    What about the under the table income from "Big Oil"?

    April 11, 2008 06:23 pm at 6:23 pm |
  2. rockus

    He's going to make his money on speeches about Iraq, after he leaves office.

    April 11, 2008 06:34 pm at 6:34 pm |
  3. wofter

    no conflict of interest for a man who has cut income and capital gains. Don't we all have blind trusts

    April 11, 2008 06:35 pm at 6:35 pm |
  4. Brian

    What a profitable business running the USA into the ground is.

    April 11, 2008 06:43 pm at 6:43 pm |
  5. Amber

    I am not thrilled with having Bush as a president but it is good to see that he donated to charity. It's probably the most decent thing I've heard about him.

    As for all the comments about Obama giving 1% everyone need to keep in mind Bush comes from a family with money and he has 2 adult daughters. The Obamas both hardworking, paid for their own college educations (Harvard, hum that's a costly tuition ya think?) and on top of it they have 2 minor children and we all know how expensive children could be. I'm sure they would love to give more provided that he's always been invovled in the community but let's get real, prior to this year their combined income was like 300K? This is the first year that their income was near 1 mill and like they said they paid off their student loans. So before you judge put yourself in their shoes, how easy would it be fore you to give 20% of your income to charity when you have a HUGE college loan to repay hanging over your head???

    April 11, 2008 07:15 pm at 7:15 pm |
  6. Darlene, MD


    So, this won't put food on my table.

    April 11, 2008 07:18 pm at 7:18 pm |
  7. Tracey, MN

    You're living in the White House where I think you have an allowance. What else do you have to do with your money? I'm not impressed.

    April 11, 2008 07:20 pm at 7:20 pm |
  8. Nora, DE

    Take Laura's dress out of the Smithsonian, sell it and give the money to soldiers' families. The worst president in history should not have mementoes in D.C.

    April 11, 2008 07:23 pm at 7:23 pm |
  9. Gary

    One poster said that Dems supposedly care about people. It's all talk my friend, all talk. When the rubber hits the road, when their wallet is involved, you won't see them around.

    April 11, 2008 07:23 pm at 7:23 pm |
  10. merle 7

    I don't belive it. I would like to know his oil net holdings that would be news.

    April 11, 2008 07:26 pm at 7:26 pm |
  11. Jake, California

    Poor guy.....I actually like him now!

    April 11, 2008 07:27 pm at 7:27 pm |
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