Obama pays lower tax rate than Buffett's secretary

[dario73]

Obama tax return shows 2011 earnings of $789,674
Published April 13, 2012

Associated Press


April 3, 2012: President Obama gestures as he speaks at The Associated Press luncheon during the ASNE Convention.
The White House says President Barack Obama and his family paid more than $160,000 in federal taxes last year.

The president's 2011 federal income tax return shows reported adjusted gross income of about $790,000 last year. About half of the first family's income is the president's salary. The White House says the rest comes from sales of Obama's books.

Obama's effective tax rate is just above 20 percent -- lower than many Americans who earn less. He has made tax-rate fairness a campaign issue.

The White House released a copy of the president's tax return, which also shows charitable donations of more than $172,000.

Obama is donating after-tax proceeds from his children's book to the Fisher House Foundation. The charity helps veterans and military families receiving medical treatment.

For Vice President Joe Biden and his wife, Jill, this year's tax return looks almost identical to last year's.

Returns for 2011 released by the White House show the Bidens paid $87,900 in federal taxes on adjusted gross income of $379,035.

Their income was $143 below their 2010 return, but their tax bill was $1,274 higher. In both cases, the effective tax rate was just over 23 percent.

On the latest return, the Bidens listed $5,540 in donations to charity.

Most of the couple's income came from the vice president's salary of $225,521 and Mrs. Biden's wages of just over $82,000 for teaching at Northern Virginia Community College.



Read more: http://www.foxnews.com/politics/2012/04/13/obama-tax-return-shows-2011-earnings-78674/#ixzz1rwF5V5Qd

[Soul Crusher]

LOL!!!!!

[Straw Man]

is this some suprise to you guys?

how many times now has Obama included himself, along with Buffet, as the type of person who taxes are too low

[Soul Crusher]

is this some suprise to you guys?

how many times now has Obama included himself, along with Buffet, as the type of person who taxes are too low

Fucking please !!!!  Its called lead by example or STFU! !  ! ! !

obama is a scam artist, same as buffett, and he knows there are always delusional dreamers like yourself who will accept daily golden showers from him no matter what he does.   

Shame on you!  You are no different than the lemmings who cheered on hitler in "Triumph of the Will" 

[Fury]

So Obama has no problem handing over his cash to charities but pisses and moans when others do the same?

Then again, ol' Uncle Warren is viciously fighting paying close to $2 billion in back taxes that one of his companies owes.


Far be it for me to imply that they're hypocrites.  

[Soul Crusher]

So Obama has no problem handing over his cash to charities but pisses and moans when others do the same?

Then again, ol' Uncle Warren is viciously fighting paying close to $2 billion in back taxes that one of his companies owes.


Far be it for me to imply that they're hypocrites.  

White guilt ridden leftist/progressives never see any hypocrisy in anything they ever do or believe.   they are a freaking joke. 

How can anyone take obama seriously in his daily Castro like rantings on this issue when he pulls this nonsense?

One good thing though - looks like less people are buying his plagiarized ghost written books. 

[Straw Man]

Fucking please !!!!  Its called lead by example or STFU! !  ! ! !

obama is a scam artist, same as buffett, and he knows there are always delusional dreamers like yourself who will accept daily golden showers from him no matter what he does.   

Shame on you!  You are no different than the lemmings who cheered on hitler in "Triumph of the Will" 

again, virtually every time he's talked about it he's included himself as the type of person that it would apply to

not sure how you missed that given that you spend 24 hours a day on the interweb

[Straw Man]

So Obama has no problem handing over his cash to charities but pisses and moans when others do the same?
Then again, ol' Uncle Warren is viciously fighting paying close to $2 billion in back taxes that one of his companies owes. Far be it for me to imply that they're hypocrites.  

how did you arrive at that conclusion genius

[Soul Crusher]

Wow Obama's pays lower effective tax rate than HIS Secretary

The most recent information about salary regarding Obama’s secretary is for his former secretary, Katie Johnson, who is listed by the White House as having made $90,000 in 2010.

According to Wikipedia, Johnson is 31 years old and now attends Harvard Law School. I don’t know about her personal life or what her deductions would be, so I can’t assume any children or deductions.

On a $90,000 salary, she would pay $16,578 in federal taxes, $3,780 to Social Security, and $1,305 in Medicare taxes.

That adds up to a total federal tax burden of $21,663 on $90,000 in adjusted gross income, or a tax rate of 24 percent, well above Obama’s rate of 20.5 percent, even though Obama’s 2011 salary was nearly nine times the 2010 salary of his secretary.

[Straw Man]

Wow Obama's pays lower effective tax rate than HIS Secretary
The most recent information about salary regarding Obama’s secretary is for his former secretary, Katie Johnson, who is listed by the White House as having made $90,000 in 2010.

According to Wikipedia, Johnson is 31 years old and now attends Harvard Law School. I don’t know about her personal life or what her deductions would be, so I can’t assume any children or deductions.

On a $90,000 salary, she would pay $16,578 in federal taxes, $3,780 to Social Security, and $1,305 in Medicare taxes.

That adds up to a total federal tax burden of $21,663 on $90,000 in adjusted gross income, or a tax rate of 24 percent, well above Obama’s rate of 20.5 percent, even though Obama’s 2011 salary was nearly nine times the 2010 salary of his secretary.

good job helping make Obama's case for the Buffet Rule

[Soul Crusher]

good job helping make Obama's case for the Buffet Rule

No - according to that grifting thug he does not make enough for the "Buffett Rule" to apply. 

Priceless - just fng priceless that this communist thug and lying sack of horeshit YOU SUPPORT can get away with his bullshit. 

[Straw Man]

No - according to that grifting thug he does not make enough for the "Buffett Rule" to apply. 
Priceless - just fng priceless that this communist thug and lying sack of horeshit YOU SUPPORT can get away with his bullshit. 

don't you mean according to his 2011 tax returns ?
He made less than 1 million in 2011 but he has said many times that it would apply to people like himself and Buffet and Obama has made more than 1 million in the past (as I'm sure you know)

[Soul Crusher]

don't you mean according to his 2011 tax returns ?
He made less than 1 million in 2011 but he has said many times that it would apply to people like himself and Buffet and Obama has made more than 1 million in the past (as I'm sure you know)

Just STFU with your semantics.  Only a complete jackass would defend obama in this.   

Bro - let me ask you something - what did obama ever do for you to enger such slavish and unthinking devotion and loyalty? 

You make the 2006-2008 bush defenders look like nothing with what you will accept from this lying dishonest scam artist. 

[Soul Crusher]

Obama Family Tax Shelter
First family transfers wealth, avoids taxes


BY: Washington Free Beacon Staff - April 13, 2012 2:11 pm


President Obama and his wife, Michele, gave a total of $48,000 in tax-free gifts to their daughters, according to tax records made public on Friday.

The president and his wife separately gave each daughter a $12,000 gift under a section of the federal tax code that exempts such donations from federal taxes.

There is nothing illegal about the president’s taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthy—“millionaires and billionaires” like himself—to pay less in taxes. He has yet to propose a comprehensive plan to reform the byzantine tax code.

The Obama’s tax return indicates that the gifts, likely for their daughter’s college educations, began in 2007, when the maximum exemptible amount was $24,000 per couple. The maximum exemption has since increased to $26,000 per couple.

The Obamas paid a total federal tax rate of 20.5 percent on a gross adjusted income $789,674, which would typically fall within the top federal rate of 35 percent. According to an analysis of the president’s tax return, he may have paid a lower rate than his secretary despite making more than eight times as much money as she did.

His most recent tax proposal—the so-called “Buffett Rule”—would increase taxes on about 4,000 millionaires and raise about $4.7 billion in new revenue per year, enough to cover about 0.4 percent of the projected budget deficit in 2012. Though the rule would apparently not hit the president himself.

Supporters of the rule have acknowledged that the projected revenue from the “Buffett Rule,” which the Democratic-led Senate is expected to vote down, is “not even a meaningful small amount.”

The Obama’s untaxed gift to their daughters will leave American taxpayers to subsidize the college education of the children of the multi-millionaire Obamas.

This entry was posted in Obama Administration. Bookmark the permalink.
   

 http://freebeacon.com/obama-family-tax-shelter

[dario73]

I would figure that since Obama feels so strongly about leveling the tax rate that he would have willingly given another 15% to the IRS. Every wealthy individual complaining about this issue can cut a check right now and give to the government more of their own money.

I do believe that something has to be done about the tax code, but punishing successful Americans is not the solution.

[Soul Crusher]

I would figure that since Obama feels so strongly about leveling the tax rate that he would have willingly given another 15% to the IRS. Every wealthy individual complaining about this issue can cut a check right now and give to the government more of their own money.

I do believe that something has to be done about the tax code, but punishing successful Americans is not the solution.

Obama, just like his gaudy thug wife are two grifters and looters stealing the brass knobs off the doors, hogging every delicacy they can get the chef to slave away for, etc. 

They are two big phonies amd that White House is going to need a total detox and quarantine for a few months after they leave in January. 

I just hope that whoever takes a massive inventory of everything in the WH before they leave.   I expect about 15 Ryder trucks showing up w a bunch of black panthers and them wholesale looting the joint before they leave. 

They will steal EVERYTHING, the china, the silver, door knobs, the rugs, the kitchenware, the lamps, the chairs, basically anything not bolted and chained down.  I also expect obama to carve some grafiti into the historic desks and tables before he leaves.     

[Straw Man]

Just STFU with your semantics.  Only a complete jackass would defend obama in this.   

Bro - let me ask you something - what did obama ever do for you to enger such slavish and unthinking devotion and loyalty? 

You make the 2006-2008 bush defenders look like nothing with what you will accept from this lying dishonest scam artist. 

how about you stop bitching and moaning about verifiable facts

do you agree that when talking about the Buffet rule that he included himself as the type of person the rule would apply to ?

Yes or No?

[Soul Crusher]

how about you stop bitching and moaning about verifiable facts

do you agree that when talking about the Buffet rule that he included himself as the type of person the rule would apply to ?

Yes or No?

no - beceause crapbama does not believe laws apply to him. 

[Straw Man]

no - beceause crapbama does not believe laws apply to him. 

again - he has said many times that it would apply to people like him

you're actually denying that he has said this?

[Soul Crusher]

again - he has said many times that it would apply to people like him

you're actually denying that he has said this?

I don't give a fuck what he says!   What he says is meaningless.  its only brain dead beaten wives like yourself who actually take him at his word.   

[Straw Man]

I don't give a fuck what he says!   What he says is meaningless.  its only brain dead beaten wives like yourself who actually take him at his word.   

there is somethig seriously wrong inside your brain my friend

Obama has made > than  1 million in the past and you know he'll make millions  after he leaves office

he's said many times this rule would apply to people like him

it really must suck to be you and have your brain constantly assualted by reality on a daily basis

[Soul Crusher]

WH: Don't ask Obama to write a check to the IRS
Washington Examiner ^ | 4/13/12 | Joel Gehrke Commentary Staff Writer



President Obama believes that his effective federal tax rate requires him to pay less than his fair share -- but the White House also believes it is inappropriate to ask the president to write a check making up the difference voluntarily.

"People like the President should not be able to -- the tax code should not written in a way that allows for -- for the wealthiest Americans to pay taxes at a lower rate than middle-class Americans," White House Press Secretary Jay Carney told reporters today.

Earlier this week, Carney impugned the "classiness" of people who propose that wealthy citizens who (as Obama does) believe they aren't paying enough should voluntarily send a check to the Internal Revenue Service (IRS).

"Another real classy charge is the idea that, well, wealthy Americans who feel like paying their fair share . . . have the option of doing it themselves by writing a check," he said derisively to reporters last week. "Think what that says to middle-class American families who are trying to get by, who are paying their taxes and paying at a rate higher than Warren Buffett."

Carney also made clear today that Obama is not, by their estimation, paying his fair share. "The President believes we must reform our tax system which is why he has proposed policies like the Buffett Rule that would ask the wealthiest Americans to pay their fair share," Carney wrote on the White House blog today. "Under the President’s own tax proposals . . he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it."

Leaving aside the question of the Buffett Rule policy, "what kind of message" does it send to the middle class -- and to millionaires, for that matter -- that President Obama won't pay what he regards as his "fair share" unless the government makes everyone else pay their "fair share," too?

[240 is Back]

Obama donated 22% if his income to charity

[Soul Crusher]

Obama donated 22% if his income to charity

  

Yeah in an election year - every other year before he looks more like Barry Obamawitz   

[Straw Man]

Obama donated 22% if his income to charity

what a dick