Skip to comments.Obamas Paid $453,770 Taxes On $1.7 Million Income
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 ...
Give it back, hypocrite!
Since they have zero expenses they should have given every cent to the IRS and set an example.
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.
He couldn't possibly be living the high life on the American people.
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?
Barry's ice cream and golf ball expenditures must be enormous.
Can they deduct all of the money they spent to hide his birth certificate, college transcripts and loan documentation, etc.?
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.
Probably his Petrobras giveaway.
Gee -— that’s ONLY 26.3% he paid. I thought “The One” said rich people should pay more.
As soon as he’s out of office his income will jump ten fold, maybe more. Then he’ll pay nothing!
Under 26% when you account for the refund.
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.
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?
Yes, he should be spreading the wealth more. :)
Isn’t it traditional for the president and members of his family to donate the proceeds from book sales to charity?
Unfortunately they are not using their own funds for that. You and I are paying for some of it.
Ooops...nevermind post 12. I think I misread the article and made an error.
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.
Isn't the rate 35% for the wealthy?
1.7 million is 142,392,000 in Kenyan Shillings. Just sayin...
Didn't they say they would donate that???
OK...OK...just ‘more Bull $h!t and lies’
26% of their income.
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.
But to reduce the deficit, I believe we should go further. And thats why Im calling on Congress to reform our individual tax code so that it is fair and simple -- so that the amount of taxes you pay isnt determined by what kind of accountant you can afford.
He had better hope Geithner didn't do them.
Rich fat cats getting a $12,334 refund?
OBAMA:Donate it to mother earth or your impeachment attorneys
What about the money from the Noble?
out of almost $400,000.00 of income....say it aint so, Joe. (snicker)
That was 2009 income. He donated all of it to various charities. That year, they paid $1,792,414 federal taxes. Their income was $5,505,409. That year, it was about 32.5% they paid in fed tax. Apparently, he didn’t like that and dropped it down to a little more than 26%.
Am sooo glad they are getting a refund. I wrote out a fat check today and in the memo section I wrote....F@$&ing THIEVES!
can we see one of Barack’s SS numbers on the return?
Faith, do you have a link on that?
The peace Nobel has not been noble for a long time...
Did you use the @$& symbols or did you write uck to make it real?
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.
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.
Pretty shoddy reporting on the part of the DDN. “Oops, wrong year. Sorry.”
Thanks, Brown Deer.
Never mind the fact he’s the president, but people with an income of 1.7 mill pay almost 500k in taxes?? Thats outrageous.
I made it real. I do it every year when I send our taxes in. They still cash it. ;(
I’m surprised big “O” allowed this info to be released!
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.
He had no choice.
Exactly. How much do the perks cost us?
The asshats of 1600 continue their ride on our backs.
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.
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'.
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?