Posted on 04/15/2010 7:08:54 PM PDT by scannell
Obama’s tax return for 2009 was just published today. There is some interesting information that you WILL NOT hear in the mainstream press. Barack Obama made $1.6 million dollars in dividends and investment “income” from “foreign” (as in overseas) investments (providing foreign capital for foreign jobs some likely “exported” from the USA) and only made $12,000 dollars in dividends from US based companies, and even this was because he was the beneficiary of a Trust that made the investment decisions not likely Barack Obama.
Obama didn’t pay any US taxes on the $1.6 million in foreign income as corroborated on his form 1116 attached to his 1040 yet it generated a $59,000 credit against Obama’s US taxes which means because he invested overseas and avoided US taxes he also benefited from it by reducing his tax on his other US domestic income by $59,000.
In short, Obama invested in foreign companies not American companies and though he paid taxes on that income to foreign countries, those taxes created a credit (offset) against Obama’s US taxes to the tune of $59,000. Though this is legal and I have done the same, but to an exponentially smaller degree (not $1.6 million in income) it was he not me that lamented US taxpayers and corporations exporting jobs outside of the US and not paying their “fair share” of US taxes during the political campaign.
I’d say he is talking a good game, but finding better opportunities to invest offshore when it comes to his own money. If you either doubt what I have said or my “warped” interpretation, please go HERE to a link at Huffington Post and page down to his return, and then “download” the return and click on open and go to pages 13 & 14 (of a complicated 38 page tax return) and read his form 1116 [titled Foreign Tax Credit] which doesn’t bring his foreign earnings to his 1040 at all, just a tax credit against his US tax liability. [I report and you decide.] NOTE: If by the time you read this the Huffington Post takes this down, Post a comment on this NSL entry with your email address and I’ll send you a copy of his 2009 taxes, including his gift tax return that he is utilizing (legally) to transfer assets to his children in order to avoid future “death” taxes.
The press “accidentlly” missed this same thing in 2008 when they pronounced that his tax return looked “pretty much in order.” A notable difference in 2008 was that most all of his “interest income” was in “Tax Exempt” domestic debt instruments. What was that about the rich paying their “FAIR SHARE?”
The Obamas are not that rich. Their income for the past several years has not been high enough to have enough money to have invested in something that pays $1.6 million in dividends. Something is VERY fishy here.
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What you said... but, hey, politicians are just that!
Meanwhile, we work (if we are fortunate to have a job) for wages that nearly keep us above water.
Hence Overseas Investments???? I figured if Obama had a 10% return (difficult in this environment) it would suggest an invested capital of $17,000,000 (of after tax savings) and if he only made a meger 5% which would be more in align with this market, that would suggest $34,000,000 in invested capital.
that's just Michelle. If her choice of eau-de-barf-alony perfume is anything like her choice in clothing style....
Here is what an article says — it’s royalties from his book overseas:
“A large portion of the royalties came from sales overseas, an indication of the president’s popularity abroad. The tax return indicates that $1.6 million of the total book income was taxable in “various” foreign countries. “
http://www.washingtonpost.com/wp-dyn/content/article/2010/04/15/AR2010041504485.html
I am a little sceptical that his books really sold that well — it smells more like Hillary’s “return on investments”.
All that foreign income probably must have nothing to do with giving Chrysler to the Italian company Fiat, probably nothing to do with bowing to the Saudis, and nothing to do with George Soros. Nor China.
This goon was bought and paid for years ago.
And more — from same article I linked above:
“A White House official said Obama’s money is not kept in a blind trust, as other presidents — including Bill Clinton and Ronald Reagan — have done. “
The overseas investment income is not book sales, just the investment of proceeds of the book sales ostensibly.
Well, I wonder if he wants to pay back the money to the Fullbright Foundation for the free scholarship he got to go to Occidental College as a foreign student¿
His tax rate isn’t very high.
from reading another news source i found out that Obammer listed his occupation on the tax return as : “author”
what you say??? AUTHOR? yes, author of the taking down of the USA what a jerk
Someone up close and personal with that blue lipped half white man needs to remind his sorry arse that HE words for US. Period.
We really don’t know how rich they are... we really don’t know all that much about them at all. Just sayin’....
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