Keyword: taxes

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  • Federal employees owe $1.03 billion in unpaid taxes

    04/14/2012 4:30:07 PM PDT · by Lorianne · 23 replies
    Washington Post ^ | 23 January 2012 | Ed O'Keefe
    Congressional staffers owed about $10.6 million in unpaid taxes in 2010, a slight increase from the previous year and a growing slice of the roughly $1 billion owed by federal and postal workers nationwide. The figures come as Republican efforts to pass legislation allowing federal agencies to fire tax delinquent federal employees have slowed and as the White House continues to crack down on improper payments made by agencies to delinquent government contractors and federal beneficiaries. About 98,000 federal, postal and congressional employees owed $1.03 billion in unpaid taxes at the end of fiscal 2010, according to records provided by...
  • Obama says US can't afford tax cuts for richest

    04/14/2012 9:23:03 AM PDT · by Free ThinkerNY · 23 replies
    Associated Press ^ | April 14, 2012
    WASHINGTON—President Barack Obama says the nation can't afford to keep giving tax cuts to the wealthiest, "who don't need them and didn't even ask for them." Obama is using his weekly radio and Internet address to urge Americans to ask their member of Congress to support the "Buffett Rule," which is named after billionaire investor Warren Buffett, who says he pays a lower tax rate than his secretary.
  • Played for sucker: Biden's empty rhetoric

    04/14/2012 5:14:47 AM PDT · by billorites · 9 replies
    Manchester Union Leader ^ | April 14, 2012 | Editorial
    Vice President Joe Biden, bless his heart, tried hard to explain the White House's position on “fairness” during a stop in Exeter on Thursday. He blew so much hot air, the U.S.S. Constitution could have set sail. “We're not supposed to have a system with one set of rules for the wealthy and one set of rules for everyone else,” he said. Yet the Buffet Rule Biden was in town to promote creates a separate tax for millionaires that no one else has to pay. It is the definition of creating one set of rules for the wealthy and another...
  • Obama: Buffett Rule Will Boost ‘Growth’(!!??)(A D*mn*ble Lie)

    04/14/2012 7:03:59 AM PDT · by lbryce · 15 replies
    The Hill ^ | April 14, 2012 | Meghashyam Mali
    President Obama used his weekly address to continue pressuring lawmakers to pass his "Buffett Rule” proposal, saying the measure would make the tax code more fair and help fund needed investments to grow the economy. "As many Americans rush to file their taxes this weekend, it’s worth pointing out that we’ve got a tax system that doesn’t always uphold the principle of everyone doing their part," Obama said in the address posted online Saturday. "This is not just about fairness, this is also about growth,” he added. “It’s about being able to make the investments we need to strengthen...
  • Budget compromise near, Md. legislators say

    04/14/2012 1:13:28 AM PDT · by Tolerance Sucks Rocks · 3 replies
    The Washington Times ^ | April 12, 2012 | David Hill
    Maryland Gov. Martin O'Malley said Thursday he wants to call a special session for lawmakers to raise taxes and reverse $500 million in planned budget cuts but is waiting on House and Senate leaders to meet beforehand and work out a unified plan. During a day in which he conducted several radio and television interviews, the Democratic governor said he would call legislators back to Annapolis “a half-hour from now” but needs assurances that a special session will not include the bickering and gamesmanship that caused a revenue package to fall through Monday on the General Assembly’s last day, triggering...
  • Obama Family Tax Shelter First family transfers wealth, avoids taxes

    04/13/2012 10:14:00 PM PDT · by NoLibZone · 19 replies
    freebeacon.com ^ | April 13 2012
    President Obama and his wife, Michele, gave a total of $48,000 in tax-free gifts to their daughters, according to tax records made public on Friday. The president and his wife separately gave each daughter a $12,000 gift under a section of the federal tax code that exempts such donations from federal taxes. There is nothing illegal about the president’s taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthy—“millionaires and billionaires” like himself—to pay less in taxes. He has yet to propose a comprehensive plan to...
  • French 75 pct tax rate would last years -Hollande aide

    04/13/2012 5:47:17 PM PDT · by TigerLikesRooster · 20 replies
    Reuters ^ | 04/10/12
    French 75 pct tax rate would last years -Hollande aide PARIS, April 10 | Tue Apr 10, 2012 11:26am EDT (Reuters) - The 75 percent tax rate that French presidential frontrunner Francois Hollande wants to slap on income over 1 million euros will be kept in place for many years, in line with the broader debt reduction effort, a top adviser to the Socialist candidate said on Tuesday. In an interview with Reuters, Hollande adviser Michel Sapin said the 75 percent rate was more a symbolic measure than a big moneyspinner for the state but should stay in place for...
  • Fair Shot, Fair Share and a Glass of Algae

    04/13/2012 6:43:57 PM PDT · by NaturalBornConservative · 3 replies
    Natural Born Conservative ^ | April 12, 2012 | Larry Walker, Jr.
    * By: Larry Walker, Jr. *“Lake Erie is facing its worst toxic algae bloom since the 60's and somehow it is going unnoticed...” ~ JoeOH111 *According to Mr. Obama, you don’t have a fair shot right now, and it’s all because millionaires aren’t paying enough income tax. If millionaires would just give the federal government its fair share, then you, I, and everyone else would have a fair shot…, and a glass of algae.What, pray tell, is a fair shot? The best definition I can surmise is “a lawful chance at odds.” But don’t we all have this already?...
  • Obama's Secretarial Tax Fallacy

    04/13/2012 5:29:46 PM PDT · by NaturalBornConservative · 30 replies
    Natural Born Conservative ^ | April 13, 2012 | Larry Walker, Jr.
    By: Larry Walker, Jr.There's no way Obama's secretary paid a higher effective tax rate than the Obamas. You don't believe it? Are income taxes such a mystery that we can't find out? Well, let's run the numbers and see. According to Jake Tapper of ABC News, Mr. Obama released his 2011 federal income tax today, with he and his wife reporting an adjusted gross income of $789,674. The Obamas paid $162,074 in total tax – an effective federal income tax rate of 20.5%.The White House also reported that President Obama’s secretary, Anita Decker Breckenridge, makes $95,000 a year. White House...
  • MARK LEVIN ON OBAMA'S PERVERSION OF REAGAN'S TAX POLICIES

    04/13/2012 5:21:17 PM PDT · by SaveOurRepublicFromTyranny · 2 replies
    THE FREEDOM POST ^ | April 13, 2012 | Matthew Burke
    Levin asked, “How stupid does the president think we are?” He said that the idea that the most left-wing president, who wants to fundamentally change America, invokes Ronald Reagan amazes him. “I have news for him, we’re not that stupid.”
  • iPhone app projects user household tax payments for federal deficit

    04/13/2012 4:31:30 PM PDT · by Eyes Unclouded · 7 replies
    Daily Caller ^ | 04/12/2012 | Staff
    U.S. taxpayers can now use their iPhone to compare how much different plans to tackle the federal deficit would cost them in their yearly income taxes. Debt Bomb — based on the U.S. tax code and publicly available data from the Congressional Budget Office and other government sources — allows users to project how a raise in taxes would cost in their personal income taxes over the years. In order to make a projection, users input basic income tax data — modeled after what a household pays in taxes — into the app. “Debt is going to be one of...
  • EDITORIAL: Obama’s tax hike patriotism

    04/13/2012 3:53:31 PM PDT · by jazusamo · 6 replies
    Washington Times ^ | April 12, 2012 | Editorial
    Wrapping the flag around big-government excess isn’t going to workVice President Joe Biden says paying higher taxes is patriotic. He must have forgotten that America was founded on a tax revolt. While pitching the Obama administration’s plan on Thursday to boost the burden on upper-income groups, Mr. Biden said, “Wealthy people are just as patriotic as middle-class people, as poor people, and they know they should be doing more.” This skewed take on patriotism was quickly retweeted by the White House. The message fits with the shameful class-warfare appeals that claim tax hikes are needed to keep firefighters on the...
  • Buffett Rule Doesn't Apply to Obama

    04/13/2012 1:14:25 PM PDT · by Kaslin · 6 replies
    Townhall.com ^ | April 13, 2012 | Kate Hicks
    No wonder President Obama is so keen on passing the Buffett Rule -- it wouldn't have affected his tax rate this year! Yes, that's right: the Obamas raked in less than $1 million this year. Therefore, in a "Buffett Rule" world, they wouldn't have to pay their "fair share." President Obama earned $789,674 in 2011, the White House announced on Friday. However, with this income, he does not even qualify for the so-called Buffett Rule that he has promoted relentlessly and the Senate will take up on Monday. The Buffett Rule calls for those making over $1 million a year...
  • President Obama’s Secretary Paid Higher Tax Rate Than He Did

    04/13/2012 12:44:36 PM PDT · by Sub-Driver · 16 replies
    President Obama’s Secretary Paid Higher Tax Rate Than He Did President Obama today released his 2011 federal income tax, with he and his wife reporting an adjusted gross income of $789,674. The Obamas paid $162,074 in total tax – an effective federal income tax rate of 20.5%. The Obamas also reported donating approximately 22% of their income to charity — $172,130. President Obama has been making a big political push for the “Buffett Rule,” which would require millionaires to pay a minimum of 30% of their income in taxes. To illustrate the point, the president has pointed out that billionaire...
  • Some tax facts as that taxing time approaches…

    04/13/2012 1:52:28 PM PDT · by Mark Landsbaum · 3 replies
    Never on Sunday, apparently. So this year your income tax is due next Tuesday, April 17. Even if you pay none. And in fact, 41 percent of those filing last year, 2010, didn’t pay a dime in tax. But the government sent a good number of them checks for $105 billion...
  • Obama likely paid higher tax rate than Romney in 2011

    04/13/2012 11:15:03 AM PDT · by Oldeconomybuyer · 39 replies
    Reuters ^ | April 13, 2012 | By Andy Sullivan
    President Barack Obama released tax forms on Friday that reveal he will probably pay a higher tax rate on lower income than likely Republican opponent Mitt Romney in 2011, adding fuel to a Democratic election-year effort to raise taxes on the wealthy. Obama paid an effective tax rate of 20.5 percent on income of $789,674 last year, the White House said. Romney has estimated he will pay a 15.4 percent tax rate on income of $20.9 million, though he has not filed his return yet. Obama and his fellow Democrats have spent much of the week touting the "Buffett Rule,"...
  • WH: Don't ask Obama to write a check to the IRS

    04/13/2012 11:54:08 AM PDT · by tellw · 20 replies
    Washington Examiner ^ | 4/13/12 | Joel Gehrke Commentary Staff Writer
    President Obama believes that his effective federal tax rate requires him to pay less than his fair share -- but the White House also believes it is inappropriate to ask the president to write a check making up the difference voluntarily. "People like the President should not be able to -- the tax code should not written in a way that allows for -- for the wealthiest Americans to pay taxes at a lower rate than middle-class Americans," White House Press Secretary Jay Carney told reporters today. Earlier this week, Carney impugned the "classiness" of people who propose that wealthy...
  • (Hypocrite) Obamas Paid 20.5% in Income Taxes, 2011 Returns Show

    04/13/2012 9:48:51 AM PDT · by tobyhill · 43 replies
    NY Times ^ | 4/13/2012 | MARK LANDLER
    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,...
  • President Obama tax return shows 2011 earnings of $789,674

    04/13/2012 9:26:13 AM PDT · by Free ThinkerNY · 12 replies
    Associated Press ^ | April 13, 2012
    WASHINGTON (AP) -- President Barack Obama and his family paid more than $160,000 in federal taxes last year on earnings of $789,674, the White House said Friday. The president's 2011 federal income tax return shows that about half of the first family's income is the president's salary. The rest comes from sales of Obama's books.
  • Bidens Donate 1.5 Percent of Income to Charity in 2011

    04/13/2012 12:41:38 PM PDT · by Beave Meister · 15 replies
    The Weekly Standard ^ | 4/13/2012 | DANIEL HALPER
    President Obama and Vice President Biden released their tax returns today, ahead of Tax Day, which is on April 16 this year (since April 15 falls on a Sunday). According to the White House, "Together, [the Bidens] reported adjusted gross income of $379,035. The Bidens paid $87,900 in total federal tax for 2011. They paid $13,843 in Delaware income tax and $3,614 in Virginia income tax. The Bidens contributed $5,540 to charity in 2011." In other words, the Bidens donated less than 1.5 percent of their adjusted gross income to charity. The president and his family were more charitable, giving...