Free Republic

During the time that President Obama has been in office, he has earned some $2,711,340 from foreign sources. That’s 30.1 percent of Obama’s total income during that time. During that period, Obama forked over $87,429 to foreign countries. Most of that cash comes from book sales. That’s an inordinately large amount of money coming from overseas – far more than the typical American, certainly. And the question becomes whether President Obama is outsourcing his book sales. After all, why not pay American tax rates on that income? Why not ship from the United States, rather than printing abroad?

Your Taxes: If you have not been filing US tax returns, doing nothing may no longer be an option. For the last three years the United States Internal Revenue Service (IRS) has been aggressively pursuing US persons (including US citizens and green-card holders) who have failed to report foreign income on their US income-tax returns and/or failed to report foreign bank and investment accounts on a Foreign Bank Account Report (FBAR). On December 19, 2008, IRS associate chief counsel (international) Steve Muser said his top priority would be “compliance, compliance, compliance.” Previous US amnesties As a result, in 2009 and...

The first couple reported an adjusted gross income of $5.5 million, almost all of it from royalties associated with the president's two bestsellers: the 2004 "Dreams from My Father" and the 2006 "The Audacity of Hope." 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. 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.

First the good news: earlier this week President Barack Obama admitted that high taxes kill jobs. Now the bad news: he wants to raise taxes on U.S. companies anyway. Pitching his new tax reform plan Monday President Obama said that our tax code “says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York.” As the Wall Street Journal quipped: “That sounds like a great argument for lowering taxes on the guy creating jobs in Buffalo. Alas, that’s not what he has in mind.” Instead, President Obama wants...