PRESIDENT Barack Obama and his wife Michelle took home a combined income of more than $2.5million last year, tax return forms show.

In all, the couple made $2,656,902 (£1,773,362) in 2008 - with the vast majority coming from the the president's best-selling books.

It meant they were forced to pay $855,323 (£570,867) back to the government in taxes. A further $172,050 (£114,827) was distributed among 37 charities.

The president's income and tax contribution was declared as anti-tax protesters held a series of tea party demonstrations across the US. Organisers of the events - stoked by right-wing commentators - are angry at the Obama administration's perceived tax-and-spend policies.

The protests have been designed to echo the 1773 Boston Tea Party in which colonists dumped tea into Boston Harbour under the slogan "No taxation without representation".