Posted on 08/15/2011 2:50:16 PM PDT by NoLibZone
Income for the Obama household continued to slip in 2010, tax returns show, as proceeds from President Obama’s best-selling books tapered off. But just as he has said, his income is easily high enough to make the family eligible for a tax increase under his own deficit-reduction proposals.
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.
(Excerpt) Read more at nytimes.com ...
Some animals are more important than other animals......
Was a good percent of their income from capital gains?
The Audacity of this Dope.
Any liberal who pays less than the rates they want to impose on higher incomes should be called out on that.
Reason being, we can all voluntarily pay more if we want to. You can contribute a gift to Uncle Sam to pay down the national debt.
So, any liberal who says we need tax increases should set an example, and voluntarily pay at that higher rate.
This isn’t as bad as it sounds. Hardly anyone pays the maximum marginal rate over their full income, because most people have some deductions.
It is the marginal rate that discourages additional effort, because you get less for extra work; but it is silly to confuse average overall tax rate with the marginal rate, because the actual average rate paid is after deductions and includes the lower marginal rates in the lower brackets.
What annoys me is that the Obama’s favorite charity is for soldiers—I just don’t believe they give a damn, and I believe it’s all for political appearances. I doubt that they gave a dime to any patriotic cause before the Won became President.
You know, has Obama even visited any of our soldiers in the hospitals in our country? No, I don’t believe he has....Hec he even messed up the Medal of Honor information......
They claimed a loss of $3k in cap gains. $3K is 0.17% of reported income.
“What annoys me is that the Obama’s favorite charity is for soldiers—I just don’t believe they give a damn, and I believe it’s all for political appearances.”
Everything Won does has a poltical motive, but I’m not going to criticize him for giving $120k to help our soldiers. Whatever leads anyone to give to them is okay by me.
So what SS#s are they using on their tax returns? Even a partial(redacted) number would shed some light on the issue.
Such as “Does it match the ss# on his draft registration?”
Do they write off RE taxes and mortgage interest for properties that are not in their own names?
Tranparency, I think not.
We’ll start with Buffet, those Hollywood creeps, and definitely Obama and his whole household. (Ahhh - Dreams!)
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