"Bush Tax Return Shows an Income of $784,219" "President Bush and Laura Bush reported income for last year of $784,219 and paid federal income taxes of $207,307, according to copies of their 2004 tax returns released Friday by the White House. The tax cuts that Mr. Bush has signed into law since taking office saved them $28,846 last year, according to an analysis of their returns by Citizens for Tax Justice, a liberal research group that is critical of the administration's tax policies. Vice President Dick Cheney and Lynne Cheney reported that they paid $393,518 in taxes on total income of $2.17 million and taxable income of $1.74 million. The Cheneys saved $81,336 from the Bush tax cuts, Citizens for Tax Justice said. The Bushes paid a tax rate of 26.4 percent on their adjusted gross income and the Cheneys paid a rate of 22.7 percent. Mr. and Mrs. Bush reported his salary as president, $397,065, plus $363,483 in taxable interest income from the trusts into which they placed their wealth. They reported smaller amounts of income from dividends and royalties. The Bushes claimed itemized deductions totaling $111,431, including $77, 785 in charitable gifts. The White House said they gave money to a variety of churches and charitable groups. Their return shows that the Bushes had too much money withheld last year and decided to apply that amount, $38,534, to their taxes for 2005, rather than get a refund. The return filed by the Cheneys included Mr. Cheney's salary as vice president of $203,000, plus deferred compensation of $194,852 he received last year from Halliburton, the oil-field services company, where he was chairman and chief executive before becoming Mr. Bush's running mate in 2000. Mrs. Cheney also reported more than $400,000 in business income, much of it deferred compensation from Reader's Digest, where she served on the board until 2003. The Cheneys also had considerable investment income, most from the sale of tax-exempt bond funds. Their returns showed long-term capital gains of $224,607 on the sale of more than $15 million worth of securities. The Citizens for Tax Justice analysis showed that the cut in the rates on capital gains and dividend income signed into law by Mr. Bush saved the Cheneys more than $35,000 in taxes last year. The Bushes saved almost $2,800 in taxes on dividends from the change, the group said. Both couples also saved substantial amounts of money from the reduced personal income tax rates pushed through Congress by Mr. Bush, the Citizens for Tax Justice analysis found. The Bushes saved more than $26,000 last year relative to what they would have paid before the tax cuts and the Cheneys saved more than $46,001, the group said."