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Obamas Paid $453,770 Taxes On $1.7 Million Income
ABC News ^ | 17 April 2011 | Tom Raum & Associated Press

Posted on 04/18/2011 12:17:35 PM PDT by 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

(Excerpt) Read more at abcnews.go.com ...


TOPICS: Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: bho44; frontpage; obama; taxes
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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!

1 posted on 04/18/2011 12:17:41 PM PDT by edpc
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To: edpc

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


2 posted on 04/18/2011 12:19:22 PM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: edpc

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.


3 posted on 04/18/2011 12:20:30 PM PDT by Jmouse007 (Lord deliver us from evil and from those perpetuating it, in Jesus name, amen.)
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To: edpc
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>

4 posted on 04/18/2011 12:23:02 PM PDT by mountn man (The pleasure you get from life, is equal to the attitude you put into it.)
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To: edpc

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?


5 posted on 04/18/2011 12:23:27 PM PDT by Thebaddog (Shakey Jake said, " The hippies will never survive!")
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To: cripplecreek
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.

6 posted on 04/18/2011 12:23:32 PM PDT by COUNTrecount (Barry...above his poi grade.)
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To: edpc

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


7 posted on 04/18/2011 12:23:37 PM PDT by American Quilter (DEFUND OBAMACARE.)
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To: edpc

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.


8 posted on 04/18/2011 12:24:05 PM PDT by ICE-FLYER (God bless and keep the United States of America)
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To: Thebaddog

Probably his Petrobras giveaway.


9 posted on 04/18/2011 12:27:39 PM PDT by WOBBLY BOB ( "I don't want the majority if we don't stand for something"- Jim Demint)
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To: edpc

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


10 posted on 04/18/2011 12:29:07 PM PDT by Ditto (Nov 2, 2010 -- Partial cleaning accomplished. More trash to remove in 2012)
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To: edpc

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


11 posted on 04/18/2011 12:30:46 PM PDT by Baynative (Truth is treason in an empire of lies)
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To: Ditto

Under 26% when you account for the refund.


12 posted on 04/18/2011 12:32:53 PM PDT by edpc (Tagline under construction: Your American Recovery and Reinvestment Act dollars at work.)
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To: edpc
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.

13 posted on 04/18/2011 12:40:37 PM PDT by Lou L (The Senate without a fillibuster is just a 100-member version of the House.)
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To: edpc
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?

14 posted on 04/18/2011 12:40:50 PM PDT by Faith
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To: edpc
Give it back, hypocrite!

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

15 posted on 04/18/2011 12:41:30 PM PDT by proud American in Canada (To paraphrase Sarah Palin: I love when the liberals get all wee wee'd up.)
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To: edpc

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


16 posted on 04/18/2011 12:42:36 PM PDT by Wiser now (Liberalism is immaturity, cloaked with the pretense of moral and intellectual superiority.)
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To: American Quilter
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.

17 posted on 04/18/2011 12:43:03 PM PDT by Faith
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To: Ditto

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


18 posted on 04/18/2011 12:46:43 PM PDT by edpc (Tagline under construction: Your American Recovery and Reinvestment Act dollars at work.)
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To: cripplecreek

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.


19 posted on 04/18/2011 12:54:04 PM PDT by Politicalmom ("We are an 'entitlement' society and we need to move towards being an 'empowerment' society"-H. Cain)
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To: Ditto
"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?

20 posted on 04/18/2011 12:57:40 PM PDT by NoLibZone (Impeach Obama & try him for treason / Homosexuals reject diversity / Unions finally caught for theft)
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To: edpc

1.7 million is 142,392,000 in Kenyan Shillings. Just sayin...


21 posted on 04/18/2011 1:08:23 PM PDT by Sporke (USS-Iowa BB-61)
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Does any one know if the Obama’s ever donated his $Million$
dollars from the Nobel Prize?

Didn't they say they would donate that???

OK...OK...just ‘more Bull $h!t and lies’

22 posted on 04/18/2011 1:11:59 PM PDT by haircutter
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To: edpc

26% of their income.


23 posted on 04/18/2011 1:12:37 PM PDT by Brookhaven (Moderates = non-thinkers)
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To: NoLibZone; edpc

Tax table says the tax on $1,700,000 is $565,308. They are in the 35% bracket.

Must have SOME accountant.

Millionaires and Billionaires.


24 posted on 04/18/2011 1:36:23 PM PDT by SargeK
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To: SargeK
Yep....and here's a direct quote from the speech he gave last week.

But to reduce the deficit, I believe we should go further. And that’s why I’m calling on Congress to reform our individual tax code so that it is fair and simple -- so that the amount of taxes you pay isn’t determined by what kind of accountant you can afford.

He had better hope Geithner didn't do them.

25 posted on 04/18/2011 1:44:34 PM PDT by edpc (Tagline under construction: Your American Recovery and Reinvestment Act dollars at work.)
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To: edpc

Rich fat cats getting a $12,334 refund?
OBAMA:Donate it to mother earth or your impeachment attorneys


26 posted on 04/18/2011 1:56:20 PM PDT by Dubya-M-DeesWent2SyriaStupid! (Obama:If They Bring a Knife to the Fight, We Bring a Gun (the REAL Arizona instigator))
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To: edpc

What about the money from the Noble?


27 posted on 04/18/2011 1:57:32 PM PDT by ColdOne (I miss my poochie... Tasha 2000~3/14/11)
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To: edpc
The Bidens contributed $5,36.00 to charities.

out of almost $400,000.00 of income....say it aint so, Joe. (snicker)

28 posted on 04/18/2011 2:00:24 PM PDT by BookmanTheJanitor
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To: ColdOne

That was 2009 income. He donated all of it to various charities. That year, they paid $1,792,414 federal taxes. Their income was $5,505,409. That year, it was about 32.5% they paid in fed tax. Apparently, he didn’t like that and dropped it down to a little more than 26%.


29 posted on 04/18/2011 2:11:49 PM PDT by edpc (Tagline under construction: Your American Recovery and Reinvestment Act dollars at work.)
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To: edpc

;)


30 posted on 04/18/2011 2:14:16 PM PDT by ColdOne (I miss my poochie... Tasha 2000~3/14/11)
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To: Dubya-M-DeesWent2SyriaStupid!

Am sooo glad they are getting a refund. I wrote out a fat check today and in the memo section I wrote....F@$&ing THIEVES!


31 posted on 04/18/2011 2:22:34 PM PDT by sheana
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can we see one of Barack’s SS numbers on the return?


32 posted on 04/18/2011 2:23:29 PM PDT by isom35
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To: Faith

Faith, do you have a link on that?


33 posted on 04/18/2011 2:27:19 PM PDT by prairiebreeze ("We need to be in it to win it, and if there's doubt we need to get out". -- Palin on Libya.)
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To: ColdOne
What about the money from the Noble?

The peace Nobel has not been noble for a long time...

34 posted on 04/18/2011 2:28:27 PM PDT by Moltke (Always retaliate first.)
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To: sheana
F@$&ing THIEVES!

Did you use the @$& symbols or did you write uck to make it real?

35 posted on 04/18/2011 2:32:35 PM PDT by don-o (He will not share His glory; and He will NOT be mocked! Blessed be the name of the Lord forever.)
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To: edpc

You can bet your butt that they have schemed somewhere to defer income until he is out of office so he can claim every deduction under the sun instead of this farce of a tax return. He lives off of the taxpayer with parties, travel, vacations, food, transportation, housing and personal entertainment covered by us. ABC Radio News has lead with this story every 30 minutes lauding it as a great example by our President. A freaking joke they are.


36 posted on 04/18/2011 2:51:44 PM PDT by carolinacrazy (Bow to your sensei.... BOW TO YOUR SENSEI...... www.jackassdemocrats.com)
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To: Faith
April 15, 2010 1:52 PM
Obamas Earn $5.5 Million Last Year, Pay $1.8 Million in Taxes
37 posted on 04/18/2011 2:58:44 PM PDT by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: prairiebreeze
Faith, do you have a link on that?

I don't. It only appeared in the newspaper edition and not online. I think if you look at post 37, you'll see that they were likely posting the 2009 taxes instead of the 2010 return. Not very accurate reporting, I'd say.

38 posted on 04/18/2011 3:03:24 PM PDT by Faith
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To: Brown Deer

Pretty shoddy reporting on the part of the DDN. “Oops, wrong year. Sorry.”

Thanks, Brown Deer.


39 posted on 04/18/2011 3:05:06 PM PDT by Faith
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To: edpc

Never mind the fact he’s the president, but people with an income of 1.7 mill pay almost 500k in taxes?? Thats outrageous.


40 posted on 04/18/2011 3:30:19 PM PDT by eak3
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Comment #41 Removed by Moderator

To: don-o

I made it real. I do it every year when I send our taxes in. They still cash it. ;(


42 posted on 04/18/2011 4:15:22 PM PDT by sheana
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To: edpc

I’m surprised big “O” allowed this info to be released!


43 posted on 04/18/2011 8:36:02 PM PDT by upcountryhorseman (An old fashioned conservative)
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To: edpc

If he is paying that much tax, he obviously hasn’t been directing his income to the areas encouraged by the tax codes to promote a healthy America.

After all, that has been the justification used for new taxes used in the past. They are simply incentive to redirect the income of the wealthy towards socially responsible spending.

Why aren’t the Obama’s more socially responsible with their income? Obviously by their own code, they shouldn’t be allowed to make that much.


44 posted on 04/18/2011 8:46:24 PM PDT by Cvengr (Adversity in life and death is inevitable. Thru faith in Christ, stress is optional.)
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To: Thebaddog
It would be nice for him to spend his retirement in Leavenworth. I'd be glad to pay for that.
45 posted on 04/18/2011 8:57:53 PM PDT by jarofants
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To: upcountryhorseman

He had no choice.


46 posted on 04/18/2011 9:00:56 PM PDT by jarofants
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To: cripplecreek

Exactly. How much do the perks cost us?

The asshats of 1600 continue their ride on our backs.


47 posted on 04/18/2011 10:36:51 PM PDT by wac3rd (Somewhere in Hell, Ted Kennedy snickers....)
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To: stephenjohnbanker; Condor51; Grampa Dave; Mamzelle; calcowgirl; sickoflibs; CutePuppy; GOPJ; ...
.....Obama's tax return listed "foreign investment tax credits." What are those investments? Is Soros his advisor?....

The answers might be found in what the Obama's claimed as "interest income"----- a tell-tale sign of financial hanky-panky.

Soros has the ideal set-up to stash loot.....with his global business interests, and a thousand or more offshore non-profits setup all over the world.

There's also the Madoff MO: a super-secret labyrinth of interrelated international funds, institutions and financial entities of almost unparalleled complexity and breadth......with assets and businesses in multiple places overseas that hid thievery, money laundering and tax evasion.

Madoff was running simultaneous scams: (1) a tax evasion scheme for wealthy businessmen ("losing" money is a tax write-off; (2) a money laundering scam; (3) a protection racket for affinity groups, (4) aiding and abetting wealthy tax-exempt foundations to evade US banking laws and the IRS. (5) hiding money for wealthy businessmen some of which was used for campaign donations (FEC fraud), and foundation fraud (IRS fraud).

==============================================

REFERENCE Obama is billing himself as "the billion dollar" candidate----claiming a war chest of a $$billion. But where is it coming from?

This is the part I like best: riding the first wave of adoration, Ohaha stashed zillions looted from the Treasury for himself (and endangered Dems)-----figuring he'd be reelected by acclamation (that would explain all those campaign donations).

Now, as support flounders, the con artists in the WH have to dream up a way to explain away "the nation's first billion dollar candidate. LOL. Ohaha's gangster government is sipping a lot of tea trying to figure out what to do.

48 posted on 04/19/2011 5:20:47 AM PDT by Liz (A taxpayer voting for Obama is like a chicken voting for Col Sanders.)
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To: American Quilter
*** Can they deduct all of the money they spent to hide his birth certificate, college transcripts and loan documentation, etc.? ***

If he is using his own money for the lawyers - Yes he can.

(paraphrasing) 'All legal fees relating to your employment, as being necessary in keeping you job, can be deducted and itemized on Schedule A.'
iirc, That law's 'intent' was for suing for things like unlawful dismissal like in discrimination - age, sex, handicap, etc. But it's not written that way so it's open ended and ripe for loose interpretation (and misuse).

I guess the pols would call that a 'Loophole'.

49 posted on 04/19/2011 5:38:56 AM PDT by Condor51 (The difference between stupidity and genius is that genius has its limits [A.Einstein])
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To: eak3
Never mind the fact he’s the president, but people with an income of 1.7 mill pay almost 500k in taxes??

That's what jumped out at me. Some millionaire works his butt off to build a business - late nights, traveling, away from family, risking capital and he has to pay the government a half million for his sacrifice? And that's not high enough for the rats?

50 posted on 04/19/2011 5:47:41 AM PDT by jersey117
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