Obamas Paid $453,770 Taxes On $1.7 Million Income

ABC News ^ | 17 April 2011 | Tom Raum & Associated Press

[edpc]

President Barack Obama and his wife, Michelle, are reporting income of $1.728 million for last year, much of it from the sale of the president's books. They paid federal taxes of $453,770

[edpc]

The Obamas, joining the flocks of Americans filing their taxes near the end of the federal filing period, were entitled to a refund of $12,334....

Give it back, hypocrite!

[cripplecreek]

Since they have zero expenses they should have given every cent to the IRS and set an example.

[Jmouse007]

What does he care he has spent billions upon billions of tax payer dollars living like King Farook along with his wanna be queen Mochelle Antonette.

[mountn man]

So you're telling me that all of Zero's little jaunts to Hawaii and Rio and Marthas vineyard are all on his little $1.7M income.

He couldn't possibly be living the high life on the American people.

...oh yeah.../sarcasm>

[Thebaddog]

He took an exemption for a retirement account. We’re going to be paying for his retirement through our taxes. He has some stones somewhere. And he also took foreign investment tax credits. What are those investments? Is Soros his advisor?

[COUNTrecount]

Since they have zero expenses they should have given every cent to the IRS and set an example.

Barry's ice cream and golf ball expenditures must be enormous.

[American Quilter]

Can they deduct all of the money they spent to hide his birth certificate, college transcripts and loan documentation, etc.?

[ICE-FLYER]

Let me use the words of the man he worships...”Barack does not NEED that much money...” Where is his FAIR SHARE?

Lying leftist scum of the earth marxist.

[WOBBLY BOB]

Probably his Petrobras giveaway.

[Ditto]

Gee -— that’s ONLY 26.3% he paid. I thought “The One” said rich people should pay more.

[Baynative]

As soon as he’s out of office his income will jump ten fold, maybe more. Then he’ll pay nothing!

[edpc]

Under 26% when you account for the refund.

[Lou L]

Normally, if someone were able to make money from a book they wrote, I wouldn't question it.

But in this case (aside from potential "ghost" and anonymous purchasing to inflate the sales numbers), I would have to say to Barry--"spread some of that wealth around!"

After all, not everyone is fortunate enough to write a book based upon some made-up, auto-biographical myth. And even if we did, we couldn't fabricate enough ghost sales, not based on our names alone.

[Faith]

I knew that figure sounded low, so I went back to the small article I saw in the Dayton Daily News this morning. This is what was written:

President reveals his earnings:

The Obamas file their return and release it to the public. They earned about $5.5 million last year and paid a little more than $1.8 million in taxes.

So I quickly went to the DDN web site after reading your figures, and sure enough, the "adjustment" had been made. Now, where does the truth lie and how could such a huge miscalculation have been made? Hm-m-m?

[proud American in Canada]

Give it back, hypocrite!

Yes, he should be spreading the wealth more. :)

[Wiser now]

Isn’t it traditional for the president and members of his family to donate the proceeds from book sales to charity?

[Faith]

Can they deduct all of the money they spent to hide his birth certificate, college transcripts and loan documentation, etc.?

Unfortunately they are not using their own funds for that. You and I are paying for some of it.

[edpc]

Ooops...nevermind post 12. I think I misread the article and made an error.

[Politicalmom]

Now, now. They pay the equivalent of public air fare when they fly AF1 off to Timbuktu for the 18th vacation of the year, you know.

[NoLibZone]

"Gee -— that’s ONLY 26.3% he paid. I thought “The One” said rich people should pay more."

Isn't the rate 35% for the wealthy?