Fat Cat Obama's 18% Tax Bill

[Lumpy 1]

Yup.. Raise Taxes on the wealthy except for me, of course.

H Y P O C R I S Y extraordinaire..

Let the excuses begin....

-------------------------------

(ONLINE.WSJ) — President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes for 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said.

Obama pays just 18% tax rate

 

[Agit8r]

So he paid a higher rate than Romney, and donated 100 grand to veterans. What a terrible person!

 

[hjmick]

Just another 1%-er...

 

[Lumpy 1]

So he paid a higher rate than Romney, and donated 100 grand to veterans. What a terrible person!

------------------------------



We learned yesterday that last year Mitt Romney paid $1.9 million in taxes on an income of $14 million — and gave $4 million to charity.

The year before, he made $21.6 million, paid $3 million in taxes and gave $3 million to charity.

So, to recap: Mitt Romney has, in the past two years, paid almost $5 million in taxes while giving away $7 million. And, as he said, he has paid the taxes he was supposed to pay according to the laws of the United States, which is all that is required — legally, morally and practically — of anyone.

If you’ve been reading my columns for the past couple of years, you know I’m perfectly capable of being critical of Romney. I did so the other day, and radio host Mark Levin called me a “trash-mouther” who was “giving aid and comfort to Obama.”
With open arms: Mitt Romney has given $7 million to charity the last two years, while paying $5 million in taxes.
AP
With open arms: Mitt Romney has given $7 million to charity the last two years, while paying $5 million in taxes.

But the release of these tax records leaves no doubt about one thing: Mitt Romney is an extraordinarily, remarkably, astonishingly generous man. A good man. Maybe even a great man.

That is all. There is no “but.” Anyone who says otherwise is ignorant, stupid or a liar.

Mitt Romney?s vast charitable giving?John Podhoretz - NYPOST.com

 

[TheGreatGatsby]

So he paid a higher rate than Romney, and donated 100 grand to veterans. What a terrible person!

During his campaign, he made an issue of Romney paying his 13 percent while people in the middle class pay 35 percent (think he may have stated an even higher number).

Sorry, bro, but liberal hypocrisy always comes around. This is no exception.

 

[PratchettFan]

Yup.. Raise Taxes on the wealthy except for me, of course.

H Y P O C R I S Y extraordinaire..

Let the excuses begin....

-------------------------------

(ONLINE.WSJ) — President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes for 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said.

Obama pays just 18% tax rate

I agree. Let's raise the rate for people in his bracket so he doesn't get away with it any more!

 

[TheGreatGatsby]

So he paid a higher rate than Romney, and donated 100 grand to veterans. What a terrible person!

------------------------------



We learned yesterday that last year Mitt Romney paid $1.9 million in taxes on an income of $14 million — and gave $4 million to charity.

The year before, he made $21.6 million, paid $3 million in taxes and gave $3 million to charity.

So, to recap: Mitt Romney has, in the past two years, paid almost $5 million in taxes while giving away $7 million. And, as he said, he has paid the taxes he was supposed to pay according to the laws of the United States, which is all that is required — legally, morally and practically — of anyone.

If you’ve been reading my columns for the past couple of years, you know I’m perfectly capable of being critical of Romney. I did so the other day, and radio host Mark Levin called me a “trash-mouther” who was “giving aid and comfort to Obama.”
With open arms: Mitt Romney has given $7 million to charity the last two years, while paying $5 million in taxes.
AP
With open arms: Mitt Romney has given $7 million to charity the last two years, while paying $5 million in taxes.

But the release of these tax records leaves no doubt about one thing: Mitt Romney is an extraordinarily, remarkably, astonishingly generous man. A good man. Maybe even a great man.

That is all. There is no “but.” Anyone who says otherwise is ignorant, stupid or a liar.

Mitt Romney?s vast charitable giving?John Podhoretz - NYPOST.com

Now consider the dollar given to charity. If you’re Mitt Romney, your dollar would be taxed at a rate of 35 percent by the federal government — the highest rate. When you give that dollar to charity, you are, in effect, excused from paying 35 cents of it to the government.

But here’s the key: You don’t get the other 65 cents back.

If you simply kept that dollar for yourself and paid tax on it, you’d still have 65 cents of it in the bank.

By giving that dollar away to charity, you lose that 65 cents entirely. It goes to the charity, as does the 35 cents you’d have paid to the IRS.

It’s likely, given these numbers, that over the past 20 years the Romneys have donated more than $50 million to charity. Do the math: Under current tax law, if he’d kept the money, he’d have $30 million more than he has now. (That’s extremely inexact, but you get the idea.)

Yup

 

[TheGreatGatsby]

Romney's not even that rich by mega rich standards. And people have done studies on his public service and charitable giving and came to the proper conclusion that he'd be a billionaire if he hadn't done them.

Libtards don't get that people like Romney do what they do to make a difference. People like Obama do what they do to get money and power.

 

[editec]

The wealthier you are the easier it is to avoid paying the highest rates on FEDERAL taxes.

Obama et al are pretty wealthy.

duh!

 

[auditor0007]

Yup.. Raise Taxes on the wealthy except for me, of course.

H Y P O C R I S Y extraordinaire..

Let the excuses begin....

-------------------------------

(ONLINE.WSJ) — President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes for 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said.

Obama pays just 18% tax rate

Well this is proof enough for me that the wealthy are not paying enough in taxes, so we need to raise the rates. Rather than that, maybe we should just do away with a few loopholes. While I do not want to see anyone paying 50% or 60% of their income in taxes, I do think that if the majority of high income earners are paying less than 20%, we probably should be taking a closer look at that.

It is interesting that while Ronald Reagan cut overall tax rates, he pushed for having a capital gains rate equal to the highest earned income tax rate. I wonder what would happen if we dropped the highest income tax rate back down to 28% and increased the capital gains rate to 28%. I honestly have no idea what the outcome would be, but it would be interesting to see.

 

[asaratis]

So he paid a higher rate than Romney, and donated 100 grand to veterans. What a terrible person!

------------------------------



We learned yesterday that last year Mitt Romney paid $1.9 million in taxes on an income of $14 million — and gave $4 million to charity.

The year before, he made $21.6 million, paid $3 million in taxes and gave $3 million to charity.

So, to recap: Mitt Romney has, in the past two years, paid almost $5 million in taxes while giving away $7 million. And, as he said, he has paid the taxes he was supposed to pay according to the laws of the United States, which is all that is required — legally, morally and practically — of anyone.

If you’ve been reading my columns for the past couple of years, you know I’m perfectly capable of being critical of Romney. I did so the other day, and radio host Mark Levin called me a “trash-mouther” who was “giving aid and comfort to Obama.”
With open arms: Mitt Romney has given $7 million to charity the last two years, while paying $5 million in taxes.
AP
With open arms: Mitt Romney has given $7 million to charity the last two years, while paying $5 million in taxes.

But the release of these tax records leaves no doubt about one thing: Mitt Romney is an extraordinarily, remarkably, astonishingly generous man. A good man. Maybe even a great man.

That is all. There is no “but.” Anyone who says otherwise is ignorant, stupid or a liar.

Mitt Romney?s vast charitable giving?John Podhoretz - NYPOST.com

At first read, I thought you had been writing columns for a couple of years and I was missing them.

Yup.. Raise Taxes on the wealthy except for me, of course.

H Y P O C R I S Y extraordinaire..

Let the excuses begin....

-------------------------------

(ONLINE.WSJ) — President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes for 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said.

Obama pays just 18% tax rate

I agree. Let's raise the rate for people in his bracket so he doesn't get away with it any more!

Fair Tax will cover EVERYBODY!

Yup.. Raise Taxes on the wealthy except for me, of course.

H Y P O C R I S Y extraordinaire..

Let the excuses begin....

-------------------------------

(ONLINE.WSJ) — President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes for 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said.

Obama pays just 18% tax rate

Well this is proof enough for me that the wealthy are not paying enough in taxes, so we need to raise the rates. Rather than that, maybe we should just do away with a few loopholes. While I do not want to see anyone paying 50% or 60% of their income in taxes, I do think that if the majority of high income earners are paying less than 20%, we probably should be taking a closer look at that.

It is interesting that while Ronald Reagan cut overall tax rates, he pushed for having a capital gains rate equal to the highest earned income tax rate. I wonder what would happen if we dropped the highest income tax rate back down to 28% and increased the capital gains rate to 28%. I honestly have no idea what the outcome would be, but it would be interesting to see.

Let's implement the Fair Tax and collect taxes on consumption. No income tax...No loop holes! Plain and simple. Even the crack dealers, prostitutes, gamblers, bank robbers, congressmen, the mega-rich, slick accountants and tax lawyers will PAY THEIR FAIR SHARE!

 

[AquaAthena]

Yup.. Raise Taxes on the wealthy except for me, of course.

H Y P O C R I S Y extraordinaire..

Let the excuses begin....

-------------------------------

(ONLINE.WSJ) — President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes for 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said.

Obama pays just 18% tax rate

And little over a whole whopping $150,00 of that went to charities, including his daughter's school.

 

[PratchettFan]

Let's implement the Fair Tax and collect taxes on consumption. No income tax...No loop holes! Plain and simple. Even the crack dealers, prostitutes, gamblers, bank robbers, congressmen, the mega-rich, slick accountants and tax lawyers will PAY THEIR FAIR SHARE!

But that would eliminate an entire multi-billion dollar industry. Think of the poor attornies, accountants and IRS employees who owe their livelihood to a confusing, complicated and bloated tax code. Have you no heart?

 

[RDD_1210]

Yup.. Raise Taxes on the wealthy except for me, of course.

H Y P O C R I S Y extraordinaire..

Let the excuses begin....

-------------------------------

(ONLINE.WSJ) — President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes for 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said.

Obama pays just 18% tax rate

Where did he say we should raise taxes on the wealthy, except for him?

 

[boedicca]

As I noted in another thread on this topic, I have no issue with Obama's 18% tax rate as he complied with the tax code.

My issues are twofold:

1. Obama wishes to deny others the same freedom to succeed.

2. He lives a $1B/year lifestyle at the expense of taxpayers. His income and income taxes are a pittance compared to taxpayer subsidies of his $100K dogwalker, calligraphers, White House concerts, golf trips, luxury vacations, etc. We truly have an Imperial Presidency that lives it up while not taking the federal budget and solvency seriously.

 

[NYcarbineer]

Yup.. Raise Taxes on the wealthy except for me, of course.

H Y P O C R I S Y extraordinaire..

Let the excuses begin....

-------------------------------

(ONLINE.WSJ) — President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes for 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said.

Obama pays just 18% tax rate

Your marching orders for this piece of propaganda went out over the weekend. You're a bit late in carrying them out, soldier.

 

[Lumpy 1]

Yup.. Raise Taxes on the wealthy except for me, of course.

H Y P O C R I S Y extraordinaire..

Let the excuses begin....

-------------------------------

(ONLINE.WSJ) — President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes for 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said.

Obama pays just 18% tax rate

Where did he say we should raise taxes on the wealthy, except for him?

Possibly..I was speaking for him though..

Perfection is rare when it comes to myself...

 

[Agit8r]

So he paid a higher rate than Romney, and donated 100 grand to veterans. What a terrible person!

During his campaign, he made an issue of Romney paying his 13 percent while people in the middle class pay 35 percent (think he may have stated an even higher number).

Sorry, bro, but liberal hypocrisy always comes around. This is no exception.

I'd be interested to see that quote. Had the Obama's taken only the standard deduction rather than itemizing, their effective tax rate would have been 29.7%

 

[Lumpy 1]

Yup.. Raise Taxes on the wealthy except for me, of course.

H Y P O C R I S Y extraordinaire..

Let the excuses begin....

-------------------------------

(ONLINE.WSJ) — President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes for 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said.

Obama pays just 18% tax rate

Your marching orders for this piece of propaganda went out over the weekend. You're a bit late in carrying them out, soldier.

"Marching Orders"...(from who?)....

 

[Agit8r]

So he paid a higher rate than Romney, and donated 100 grand to veterans. What a terrible person!

------------------------------



We learned yesterday that last year Mitt Romney paid $1.9 million in taxes on an income of $14 million — and gave $4 million to charity.

The year before, he made $21.6 million, paid $3 million in taxes and gave $3 million to charity.

So, to recap: Mitt Romney has, in the past two years, paid almost $5 million in taxes while giving away $7 million. And, as he said, he has paid the taxes he was supposed to pay according to the laws of the United States, which is all that is required — legally, morally and practically — of anyone.

If you’ve been reading my columns for the past couple of years, you know I’m perfectly capable of being critical of Romney. I did so the other day, and radio host Mark Levin called me a “trash-mouther” who was “giving aid and comfort to Obama.”
With open arms: Mitt Romney has given $7 million to charity the last two years, while paying $5 million in taxes.
AP
With open arms: Mitt Romney has given $7 million to charity the last two years, while paying $5 million in taxes.

But the release of these tax records leaves no doubt about one thing: Mitt Romney is an extraordinarily, remarkably, astonishingly generous man. A good man. Maybe even a great man.

That is all. There is no “but.” Anyone who says otherwise is ignorant, stupid or a liar.

Mitt Romney?s vast charitable giving?John Podhoretz - NYPOST.com

Obviously that piece can't be trusted because it references Arthur Brooks's hack book that has been debunked outright:

Crackpot Doom Scandal: "Those Stingy, Uncharitable Liberals"