Does he consider this paying his “fair share?”

White House just released this via WHD:

Today, the President released his 2011 federal income and gift tax returns.  He and the First Lady filed their income tax returns jointly and reported adjusted gross income of $789,674. About half of the first family’s income is the President’s salary; the other half is from sales proceeds of the President’s books. The Obamas paid $162,074 in total tax.

The President and First Lady also reported donating $172,130 – or about 22 percent of their adjusted gross income – to 39 different charities.  The largest reported gift to charity was a $117,130 contribution to the Fisher House Foundation.  The President is donating the after-tax proceeds from his children’s book to Fisher House, a scholarship fund for children of fallen and disabled soldiers.

The President’s effective federal income tax rate is 20.5 percent.

2012 tax rate schedule for married filing jointly:

10% on taxable income from $0 to $17,400, plus
15% on taxable income over $17,400 to $70,700, plus
25% on taxable income over $70,700 to $142,700, plus
28% on taxable income over $142,700 to $217,450, plus
33% on taxable income over $217,450 to $388,350, plus
35% on taxable income over $388,350.