Vice President George Bush and his wife, Barbara, paid $86,684 in 1987 income taxes, slightly more than the amount paid by President Reagan and his wife, Nancy.

However, the Bushes paid the taxes on $36,963 less income.According to tax return released Wednesday, George and Barbara Bush paid taxes equivalent to 28 percent of their total income of $308,396. By contrast, the Reagans paid $86,638 in taxes on total income of $345,349, or 25 percent.

Both the president and the man who will be the 1988 Republican presidential nominee benefited under new tax-law changes, although Reagan clearly benefited more.

The bulk of Bush's income came from his $114,681 in salary plus other reimbursements as vice president and from $169,600 from the blind trust set up when he took office in 1981.