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