The president and vice president saved a combined $110,182 in taxes last year under the income tax cuts passed by their administration, according to an analysis of the 2004 tax returns released by the White House.
President and Mrs. Bush reported total income of $784,219 on their tax return and paid $207,307 in income tax -- $28,846 (12 percent) less than they would have under the pre-Bush tax law, according to a report by Citizens for Tax Justice, a Washington-based research and advocacy organization.
Figures released by the White House showed that President and Mrs. Bush reported taxable income of $672,788 for the tax year 2004, including salary earned as president and investment income from the trusts in which their assets are held.
The Bushes contributed $77,785 to churches and charitable organizations, including Evergreen Chapel at Camp David, St. John's Church, the American Red Cross, the Salvation Army World Service Office, AmeriCares, the Susan G. Komen Foundation and the federal government's Combined Federal Campaign.
According to the White House, Vice President and Mrs. Cheney reported total income of $2,173,892 and paid $393,518 -- which CJT said is more than $80,000 less than under the pre-Bush tax law.
The Cheneys reported taxable income of $1,328,678, including the vice president's $203,000 government salary and the payment of $194,852 in deferred compensation from Halliburton Co., as well as Mrs. Cheney's income from the American Enterprise Institute and compensation from Reader's Digest, on whose board of directors she served until her retirement in 2003.
The Cheneys donated $303,354 to charity in 2004, primarily from Mrs. Cheney's book royalties from Simon & Schuster and the exercise of stock options dedicated to charity.
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