What a shame.

Via Politico:

President Obama and first lady Michelle Obama made $183,000 less in 2012 than they did in 2011 and so paid less in taxes, according to returns released by the White House Friday.

They made $662,000 overall in 2012 and paid $112,000 in federal income tax. In 2011, they made $845,000 and paid $162,000 in tax.

The drop in income is largely due to a drop in earnings from sales of the president’s book, which went from $441,000 in 2011 to $259,000 in 2012.