Luddly Neddite
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- Sep 14, 2011
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Comparing Obama's 2011 Return with Romney's
Obama's had an adjusted gross income of $789,674 on which they paid $162,074 in taxes.
They had an effective federal tax rate of 20.5 percent.
The Obamas donated $172,130 to 39 charities which is 21.7 percent of their income.
href="http://blogs.suntimes.com/sweet/2012/04/obamas_2012_income_tax_return.html">Obama's 2012 income tax return: $789,674 adjusted gross income in 2011. Chicago charitable donations - Lynn Sweet
The Romney's paid 14.1 percent on $13.7 million of income.
They are claiming that their rate averaged 20.2 percent over a 20.2 percent over a 20 year period. There is no documentation to back that up.
What is odd is that the Romney's donated more than $4 million to charity but claimed only $2.25 million.
Total charity is 16.4 percent of their income.
Had they taken the full deduction their effective tax rate would have been reduced to below 10 percent.
Since tax returns can be amended up to 3 years beyond filing, the Romney's can claim the full deductions later and get a refund from the IRS.
Romney's 2011 Tax Return Gives More Fodder To Critics Who Already Had Surplus : It's All Politics : NPR
I expect the rw's will whine and wail because of the source and of course, they are more than welcome to PROVE the figures are incorrect.
(A friend sent this to me. I did not write it myself.)
Obama's had an adjusted gross income of $789,674 on which they paid $162,074 in taxes.
They had an effective federal tax rate of 20.5 percent.
The Obamas donated $172,130 to 39 charities which is 21.7 percent of their income.
href="http://blogs.suntimes.com/sweet/2012/04/obamas_2012_income_tax_return.html">Obama's 2012 income tax return: $789,674 adjusted gross income in 2011. Chicago charitable donations - Lynn Sweet
The Romney's paid 14.1 percent on $13.7 million of income.
They are claiming that their rate averaged 20.2 percent over a 20.2 percent over a 20 year period. There is no documentation to back that up.
What is odd is that the Romney's donated more than $4 million to charity but claimed only $2.25 million.
Total charity is 16.4 percent of their income.
Had they taken the full deduction their effective tax rate would have been reduced to below 10 percent.
Since tax returns can be amended up to 3 years beyond filing, the Romney's can claim the full deductions later and get a refund from the IRS.
Romney's 2011 Tax Return Gives More Fodder To Critics Who Already Had Surplus : It's All Politics : NPR
I expect the rw's will whine and wail because of the source and of course, they are more than welcome to PROVE the figures are incorrect.
(A friend sent this to me. I did not write it myself.)