Obama Refuses To Tax Himself At The Higher Rate

Would it surprise you to learn that Mr. Obama, the champion of taxing those evil rich people who make more than $200k for single filers, $250k joint filing, doesn’t lead by example?

The president and his wife, Michelle Obama, on Monday reported an adjusted gross income of $1,728,096 for 2010, down from $5.5 million in 2009. Most of their income came from sales of his books “Dreams From My Father” and “The Audacity of Hope.” The Obamas paid $453,770 in federal taxes, for an effective tax rate of just over 26 percent; the top individual tax rate is 35 percent.

The federal tax rate in 2000 for the top earners was 39.6%, and 2001 was 39.1%. 2002 was 38.6%, which is what Obama wants to roll the rates back to, though most on the $200/$250 tax bracket was 35%. Yet, he didn’t even pay that. Apparently, he takes advantage of all those evil tax deductions. I guess he doesn’t want to pay his “fair share.”

I will give him props for his charitable donations, though. $245k, much going to charities for the military families of those wounded or killed. Kudos, President Obama!

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7 Comments

Comment by Black Sabbath
2011-04-18 21:43:56

The part that kills – KILLS me – is that the Obamas paid $453,770.00 in taxes and NO ONE is outraged by this. Even THEY should not have to pay this kind of money in taxes. Someone should be asking where the oh, 1-2 TRILLION dollars we gave last year in taxes went? Like, ALL of it? Where is it? GONE.

All gone.

And now the government is back for more.

 
Comment by gitarcarver
2011-04-18 21:56:26

From the same article, “Gaffe-A-Minute” Joe Biden pays even less in taxes and doesn’t give nearly as much to charity:

Compared with the president, Mr. Biden is a pauper. He and his wife had an adjusted gross income of $379,178, most of it his salary. The Bidens paid $86,626 in federal taxes, for an effective tax rate of about 23 percent. They also paid $14,479 in income taxes to Delaware and $3,515 to Virginia, and contributed $5,350 to charity, counting money and in-kind donations.

“Do as I say, not as I do,” is alive and well in the Obama administration.

 
Comment by gitarcarver
2011-04-18 21:59:23

NO ONE is outraged by this.

I am not outraged because “as ye sow, so shall ye reap.”

Even though I agree that the taxes Obama paid are higher than they should be, the fact of the matter is that he wants others to pay more. He can’t lead by example, and I won’t feel sorry as he feels the pinch in his wallet.

Some people deserve what they get.

 
Comment by proof Subscribed to comments via email
2011-04-18 23:16:05

He wants to wait ’til most of the royalties for his book clear before he taxes the (other) evil rich people.

 
Comment by Julie Kinnear
2011-04-19 16:39:04

I don’t see any point in raising the tax rates on the rich as they will always be able to hire the most clever accountants who are able to take advantage of tax deductions.

 
Comment by david7134
2011-04-19 19:49:17

I saw some numbers elsewhere that showed when you tax the “rich” you only get an increase of 1 to 2% of the tax income. Yet the damage is done to the small businesses. This is just one more way to be devisive and not confront the problem of reduced spending.

 
2011-04-20 18:43:10

$100,000 of his charitable donations from his $1M+ Nobel Peace Prize went to the Three Cups of Tea Charity which boasted of operating schools in Afghanistan – just this week reported to be mostly fraud.

26% – sheesh!

 

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