Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, April 13, 1990 TAG: 9004130311
SECTION: NATIONAL/INTERNATIONAL PAGE: A1 EDITION: METRO
SOURCE: Los Angeles Times
DATELINE: WASHINGTON LENGTH: Medium
The president and Barbara Bush released their 1989 federal tax return - all 21 pages of it - Thursday. The bottom line was $101,382 in taxes on a taxable income of $456,780, about 40 percent of which came from Bush's salary.
Bush's annual salary as president is $200,000. Because he was not inaugurated until the 20th day of 1989, he earned $189,167 as president and $6,229.15 for his last few days as vice president. Bush also earned $259,970 from various investments and business holdings.
Bush family also reported $94,702 in itemized deductions. Bush does not have a mortgage, so his chief source of deductions were contributions to charities.
ong the recipients of presidential largess were relief funds for victims of Hurricane Hugo ($3,000) and the Northern California earthquake ($2,000); the United Negro College Fund ($7,141) and the traditionally black Alcorn State college in Mississippi ($1,000); Bush's alma maters, Yale ($440) and Phillips Academy ($1,500); the M.D. Anderson Cancer Center in Houston ($7,141) and several other medical charities ($2,650) and churches ($1,550).
e contributions to the M.D. Anderson center and the United Negro College Fund are not round numbers because Bush gave to them all the proceeds from his campaign biography "Looking Forward," which earned him $14,282 in 1989.
sh's investments did better in 1989 than the year before. His trust earned $208,274 in interest and dividends this past year, $155,662 in 1988.
e president earned far more than his understudy, Vice President Dan Quayle. Although Quayle comes from a wealthy family, the $133,696 in taxable income he and wife Marilyn reported is almost entirely from his $106,528 government salary.
by CNB