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(Hypocrite) Obamas Paid 20.5% in Income Taxes, 2011 Returns Show
NY Times ^ | 4/13/2012 | MARK LANDLER

Posted on 04/13/2012 9:48:51 AM PDT by tobyhill

President Obama and his wife, Michelle, reported adjusted gross income of $789,674 in 2011 and paid just over 20 percent of it to the federal government in taxes.

Their income declined nearly $1 million from the previous year, when the president was reaping larger amounts from sales of his bestselling books. The numbers were disclosed in the Obamas’ federal income tax return and gift-tax return, released Friday by the White House, along with those of Vice President Joseph R. Biden Jr.

Mr. and Mrs. Obama paid $162,074 in income taxes, an effective tax rate of 20.5 percent. In a statement, the White House suggested that Mr. Obama believed that he should pay a higher rate, noting that his administration wants to reform the tax code and ask “the wealthiest Americans to pay their fair share while protecting families making under $250,000.”

(Excerpt) Read more at nytimes.com ...


TOPICS: Extended News; Front Page News; News/Current Events
KEYWORDS: 2011taxes; bhofascism; democrats; hypocrit; obama; obamataxes; obamataxreturn; taxcheatparty; taxes

1 posted on 04/13/2012 9:49:01 AM PDT by tobyhill
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To: tobyhill

Well, they are not rich, you know.

Not like THAT other ‘famous’ couple whose wife can be a stay-at-home mom.

/sarc


2 posted on 04/13/2012 9:54:58 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: tobyhill

That’s about the same as my rate...and I make less than $800K/yr.A lot,LOT less.


3 posted on 04/13/2012 9:56:16 AM PDT by Gay State Conservative (Unlike Mrs Obama,I've Been Proud Of This Country My *Entire* Life!)
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To: Sir Napsalot

And I’ll bet my next year’s income that Michelle DOES NOT report 99% of the gifts she’s been gathering for all of her ‘working’ trips.


4 posted on 04/13/2012 9:58:11 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: tobyhill
...the White House suggested that Mr. Obama believed that he should pay a higher rate...

Who's stopping him or any other socialist from signing over all their 'excess' and 'unfair' money to the government?

Obozo needs to STFU and put his money where his mouth is. Talk is cheap and giving other peoples money away far too easy.

5 posted on 04/13/2012 9:58:24 AM PDT by DBeers (†)
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To: tobyhill

Honestly, I am surprised they paid that much.


6 posted on 04/13/2012 9:59:03 AM PDT by cableguymn (Good thing I am a conservative. Otherwise I would have to support Mittens like Republicans do.)
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To: Gay State Conservative

I got audited for paying 20% on about $60,000.


7 posted on 04/13/2012 10:00:05 AM PDT by tobyhill (Fight Fire With Fire)
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To: tobyhill

“Mr. Obama believed that he should pay a higher rate,”


don’t take deductions then and pay it off the gross rate rather then the adjusted gross....lead by example moron;
oh, wait- he’s a liberal and they never practice what they preach...


8 posted on 04/13/2012 10:01:00 AM PDT by God luvs America (63.5million pay no federal income tax then vote demoKrat)
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To: tobyhill

Well hell, with that income AND their housing and travel to multiple vacation spots PAID FOR by us, he has PLENTY of disposable dollars.


9 posted on 04/13/2012 10:01:02 AM PDT by SoFloFreeper
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To: tobyhill

Well hell, with that income AND their housing and travel to multiple vacation spots PAID FOR by us, he has PLENTY of disposable dollars.


10 posted on 04/13/2012 10:02:43 AM PDT by SoFloFreeper
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To: tobyhill
"Mr. Obama believed that he should pay a higher rate..."

So what's stopping him?

11 posted on 04/13/2012 10:06:33 AM PDT by mikey_hates_everything
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To: Gay State Conservative
That’s about the same as my rate...and I make less than $800K/yr.A lot,LOT less.

Obama wants people in his income bracket to pay a higher rate than you do. I'm not sure that is being a hypocrite.

I do think Americans are taxed enough already. The real solution is to cut spending.

12 posted on 04/13/2012 10:06:45 AM PDT by Doe Eyes
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To: Doe Eyes
Obama’s tax rate is supposed to be 35% so if he's taking deductions that lower it to 20.5% when he's asking that there be a minimum of 30% for his wage then that makes him a hypocrite.

I want lower taxes for all but Obama wants higher taxes for all except himself.

13 posted on 04/13/2012 10:11:21 AM PDT by tobyhill (Fight Fire With Fire)
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To: tobyhill

Note the ADJUSTED gross....Let’s see the GROSS


14 posted on 04/13/2012 10:13:59 AM PDT by Sacajaweau
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To: tobyhill

The definition of “rich” isn’t just people who make $250K a year — its people who make $250K a year who DON’T vote for Obama and the Democrats. Rich Democrats have a pass on paying taxes since they vote the right way and say the right things and give money to Obama.


15 posted on 04/13/2012 10:16:38 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: tobyhill

I am confused (like everyone else). For this federal tax amount, they wrote off around $230k. What write-offs do they have? Their house in Chicago should only be around $30k, their family of 4 would be around $25k. So where did he write off another $175k from his income.

Bigger question, is why would this man write anything off? He wants to redistribute. Start at home.


16 posted on 04/13/2012 10:22:56 AM PDT by I_be_tc
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To: tobyhill
Oh My God,those tax write-offs, we are SUBSIDIZING the Obamas
17 posted on 04/13/2012 10:23:14 AM PDT by 12chachacha
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To: tobyhill
I want lower taxes for all but Obama wants higher taxes for all except himself.

I don't think Obama is exempting himself from the proposed tax increases.

18 posted on 04/13/2012 10:26:02 AM PDT by Doe Eyes
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To: tobyhill

you only need to file a gift tax form when you exceed the annual $13,000 tax-free gift limit. But it’s also prudent to send in that Form 709 every time you make a transaction with a family member over $13,000 - even if it wasn’t a gift. If you forget, there could be trouble with the IRS down the road.

******

Unless he made a GIFT to someone over $13,000 it is NOT a ‘gift’ it’s a donation to a charity which is tax deductible (TAX SUBSIDY according to Obama).


19 posted on 04/13/2012 10:30:15 AM PDT by kcvl
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To: tobyhill

How do they figure the income value of such items as free housing, free food, fee transportation,cost of servants, ect?


20 posted on 04/13/2012 10:30:27 AM PDT by Forrestfire (("To educate a man in mind and not in morals is to educate a menace to society." Theodore Roosevelt))
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To: tobyhill

Obama paid a lower tax rate than his junior staffers.


21 posted on 04/13/2012 10:30:48 AM PDT by Baynative (Please check this out - http://www.youtube.com/watch?v=fFIcZkEzc8I)
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To: tobyhill

Did Obama Pay a Lower Rate Than His Secretary?

http://www.whitehousedossier.com/2012/04/13/obama-pay-secretary/


22 posted on 04/13/2012 10:36:19 AM PDT by Hotlanta Mike (TeaNami)
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To: tobyhill

2010...was this ever cleared up ..... instead the community organizer pits women against women

Geithner and Bernanke: Laundering Money Through an Illegal Trust?
Breitbart ^ | 2/2010 | Gaffney

Posted on Wednesday, February 17, 2010 4:55:22 PM by mgist

Geithner and Bernanke: Laundering Money Through an Illegal Trust?
by Frank Gaffney

http://www.freerepublic.com/focus/f-news/2453791/posts


23 posted on 04/13/2012 10:54:16 AM PDT by malia
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To: I_be_tc

Nice thoughts - here is one that fits in with you - If book sales have dropped by $1,000,000 in royalties, what does that tell us about who is still buying his “old ideas?”


24 posted on 04/13/2012 10:55:07 AM PDT by q_an_a (the more laws the less justice)
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To: tobyhill

He should pay a higher rate huh? Ok, then offer to reimburse the taxpayers for all the freebies you get.....free transportation for vacations, free food for the family, private security, free rent, free utilities, insurance, drivers, gasoline, other auto expenses . . .

Or voluntarily donate to the Treasury

Or substantially increase your contributions, and to bona fide charities too, and to ones that aren’t race-based.


25 posted on 04/13/2012 11:09:42 AM PDT by A_Former_Democrat
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To: A_Former_Democrat

He shouldn’t pay a higher rate but he should quit yelling for everyone else to.


26 posted on 04/13/2012 11:29:08 AM PDT by tobyhill (Fight Fire With Fire)
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To: tobyhill

“was never our plan to bring the deficit down and get the debt under control.”.

Translation: Take money from hard working, successful people and give it to welfare ACORNs with 10 kids by 10 different guys.

This Kenyan is what Joe McCarthy tried to save this country from. He’s why we need Joe McCarthy’s movement back...now more than ever.

Anyone but the racist Kenyan Communist. Ted Bundy, Jack The Ripper, Charles Manson...anyone!


27 posted on 04/13/2012 11:49:01 AM PDT by Neoliberalnot (Marxism works well only with the uneducated and the unarmed.)
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To: tobyhill

Presidential pay ignores that fact that he gets everything for free, so he doesn’t need any money. He gets free vacations, free food, free clothing, he pays nothing for gas, has a free house, free lawn care. I think he probably pays for his daughter’s private school.

It’s pretty easy to live when everything is provided for you.


28 posted on 04/13/2012 1:32:24 PM PDT by CharlesWayneCT
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To: tobyhill

I guess MY accountants aren’t as good as getting the tax breaks as his. I don’t make jack sh!t and still get taxed at 30%

F U B O!


29 posted on 04/13/2012 3:47:36 PM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: Doe Eyes
The real solution is to cut spending.

That, and get rid of the income tax, the IRS, the MARXISTS in office and every other friggin politician that thinks my hard work and my money is theirs!

They can all go to hell.

30 posted on 04/13/2012 3:50:47 PM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: I_be_tc

“The Obamas also reported donating $172,130 — or about 22 percent of their adjusted gross income — to 39 different charities.”


31 posted on 04/13/2012 4:34:27 PM PDT by Kellis91789 (The ultimate result of shielding men from the effects of folly is to fill the world with fools.)
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To: tobyhill

I still want to know why there is such a deafening silence about WHY anybody thinks more than a 10% income tax rate is necessary, when 10% would be enough if HALF the population hadn’t been bribed with a 0% tax rate.

We need a change to the AMT so that nobody gets away with paying LESS than 10%, THEN let’s see how the revenue compares to the current income tax revenue. Only if there is a shortfall should we talk about any additional taxes on the most productive members of society.


32 posted on 04/13/2012 4:44:39 PM PDT by Kellis91789 (The ultimate result of shielding men from the effects of folly is to fill the world with fools.)
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To: unixfox
That, and get rid of the income tax, the IRS, the MARXISTS in office and every other friggin politician that thinks my hard work and my money is theirs!

They can all go to hell.

More than a few on this forum that are retired military. You gonna cut them off?

33 posted on 04/13/2012 5:18:03 PM PDT by Doe Eyes
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To: Kellis91789
“The Obamas also reported donating $172,130 — or about 22 percent of their adjusted gross income — to 39 different charities.”

We should cut out this crap. No more deductions for charitable contributions including religious.

34 posted on 04/13/2012 5:29:24 PM PDT by Doe Eyes
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To: Doe Eyes

I agree with you. No matter what the deduction is for, it is still the government playing social engineer. Most Freepers do not agree, however. Most think deductions for mortgage interest, charities, local taxes, child exemptions, health insurance, etc. are somehow valuable in pushing “good values” and should be retained. And they still think they are “conservatives”.

I think fighting each deduction would be a losing battle because you have a supermajority of people that treasure their own set of deductions. It might be easier to alter the Alernative Minimum Tax such that — after all deductions — your tax bill cannot be lower than 10% of your AGI. The result would be the same revenue as a 12% flat tax, without the political fight over deductions.


35 posted on 04/13/2012 5:51:10 PM PDT by Kellis91789 (The ultimate result of shielding men from the effects of folly is to fill the world with fools.)
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To: God luvs America

Their largest donation was a contribution of $117,130 to the Fisher House Foundation. Mr. Obama gives after-tax proceeds from his children’s book to a scholarship fund for the children of fallen and disabled soldiers.


If true this is “unexpected”


36 posted on 04/13/2012 6:03:45 PM PDT by PeterPrinciple (Lord, save me from some conservatives, they don't understand history any better than liberals.)
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To: PeterPrinciple

Indicatations Fisher House exec earnes $355,000 but some good comments. Does the exec donate to obama?

http://greatnonprofits.org/reviews/fisher-house-foundation-inc#r_id-102403—user_id-133360


37 posted on 04/13/2012 6:17:06 PM PDT by PeterPrinciple (Lord, save me from some conservatives, they don't understand history any better than liberals.)
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To: Kellis91789

Thanks, Kellis. Some articles I quickly browse and don’t see all the things I should. Although I did hear they donated to their two girls and wrote that off. Something like $48k.


38 posted on 04/13/2012 6:23:46 PM PDT by I_be_tc
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To: tobyhill

Obama - or any other person - can make voluntary payments to the federal government. If Obama doesn’t think he pays enough . . . he can pay more. So, do it!


39 posted on 04/13/2012 9:01:35 PM PDT by BAW (I'll be back as fast as you can say "furious.")
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To: tobyhill
It's hilarious that Obama thinks he can continue to hoodwink everyone into believing "the rich don't pay their fair share", when he KNOWS that anyone who cheats usually gets caught and even more money gets collected with fines and interest. Also, that the 1% pay a huge percentage of the total tax revenue to begin with. The top 50% pay about 95% or more of the taxes now. Sadly, there ARE people that swallow his lies and Warren Buffett has to know better.

What he NEVER brings up is that people like Romney, who pay a lower tax rate comparatively, are paying mostly on capital gains, dividends and interest and NOT regular income from wages - which are always taxed more. What Obama really wants to do is raise rates on capital gains - efforts which have ALWAYS proven to slow down the economy. Hey, what's stopping Buffett or Obama from forking over all their money they want to to "help" the economy now??? Nuthin'!

40 posted on 04/13/2012 10:36:05 PM PDT by boatbums (God is ready to assume full responsibility for the life wholly yielded to Him.)
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To: Sir Napsalot
Joe Biden: The 1 1/2 Percenter

What a bozo. Lives rent free in our house, eats our food, rides around in our cars...then on his "millonaires and billionaires" income, .....gives 1 and 1/2% to charity....and then has the stupidity to accuse us of not being generous enough!

And, if you look at past years, 1 1/2% is a HUGE increase for "Gimme More" Joe.

41 posted on 04/15/2012 7:31:47 AM PDT by cookcounty
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.
.

Every time Moochelle leaves on vacation ahead of Barri and Bo -

It costs the US Taxpayers over $80,000 to get her lardbutt on AF2 off the ground and up to cruising altitude

Then Bo takes his own smaller executive jet AF3 at $??,??? and Barri cost well over another $80,000 on his Boeing AF1

13 year old ( believe she is only 13) Mafia Obama and her 12 “close friends” scoping out the drug problems and lack of assault weapons in Mexico plus over a 100 Secret Service agents (needing some instant hot Mexican sex) on their Boeing AFXXX cost the US Taxpayers mega-millions too

-

.
.


42 posted on 04/15/2012 10:33:46 AM PDT by devolve (---- ------------insanity_is_alive_and_malignant-------------)
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.
.

“Somebody” pays for all of the Obama’s goodies, designer clothing/shoes, blow (...maybe a little blow...), booze, cheeseburgers/fries, $100pound Wagya beef, $300/bottle wine, etc.

It is not the Obamas

.
.


43 posted on 04/15/2012 10:43:19 AM PDT by devolve (---- ------------insanity_is_alive_and_malignant-------------)
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To: tobyhill

Page 2 of a 1040 is not what I’d call disclosure.

Page 1 tells where the income came from (coincidentally, it would also have the social security number Obama used.

His salary is $450K...where did the other 300K plus come from? His books?

Likewise, how many deductions can this man have where every need of his is fulfilled by the taxpayer....were any of these deductions for airfare he should have paid for his multiple plane trips, vacations, etc.? While the cost of AF1 shouldn’t be borne by him, he is supposed to reimburse at least a first class airline cost, isn’t he?

Nope, Page 2 on Drudge don’t do a damned thing for me.


44 posted on 04/15/2012 10:47:56 AM PDT by Gaffer
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