Obama pays less than a third on taxes

[Iriemon]

so let me get this right...you support obama talking about paying higher taxes at 39.6%, getting rid of deductions, eliminating bush tax cuts etc...for the wealthy....and then obama NOT "walking" the "talk" by filing under bush's current tax system...

of course its legal, that has never been my point. he talks over and over how the rich don't pay their share, taxes need to be raised on the wealthy and what does he do when its HIS money....he pays under bush's plan.

thats hypocrisy

Yeah, we need to raise taxes to generate more revenues. But who ever claimed that anyone should pay more than the legal obligation? I certainly haven't, and I haven't heard Obama say it either. What hypocracy?

why did he pay under bush's plan? i guess he really didn't feel like paying MORE taxes this year huh....

if the rich should pay more, why does he use every legal means possible to lower his rate?

Good lord. Why the hell should he or anyone pay more taxes that legally required?

Do you think Bush should have personally used his own money to pay for the war in Iraq?

Get real.

 

[edthecynic]

WASHINGTON – President Barack Obama and his wife, Michelle, millionaires from his best-selling books, made $2.7 million last year and paid just under one-third of their adjusted income in federal taxes. While the income, mostly his, was far more than the U.S. median household income of about $50,000, it was quite a decrease from the $4.2 million the Obamas made in 2007.


Obamas report $2.7 million in income for 2008

doesn't obama's plan call for those over 250K to have an approx. 40% tax rate?

Current top marginal tax rate is 36%, not 40%. Obama's net tax came to 32%.
Maybe you should go dig through his return to find out his tax accountant's secret.
It is not hypocrisy to follow the tax code.
If he had offshore tax haven accounts and excessive, funny deductions, that would be hypocrisy.
Yurt has no point. Just another sore loser, whining and throwing imaginary poop.

Not only that, but even if the top rate was 40% you wouldn't pay a total of 40% because the 40% is only paid on income over a certain threshold. Income below the threshold is taxed at progressively lower rates, some as low as 10%.

According to a CBO report, the top 1% pay an overall tax rate of 19.4% in income taxes.

 

[Iriemon]

WASHINGTON – President Barack Obama and his wife, Michelle, millionaires from his best-selling books, made $2.7 million last year and paid just under one-third of their adjusted income in federal taxes. While the income, mostly his, was far more than the U.S. median household income of about $50,000, it was quite a decrease from the $4.2 million the Obamas made in 2007.


Obamas report $2.7 million in income for 2008

doesn't obama's plan call for those over 250K to have an approx. 40% tax rate?

Current top marginal tax rate is 36%, not 40%. Obama's net tax came to 32%.
Maybe you should go dig through his return to find out his tax accountant's secret.
It is not hypocrisy to follow the tax code.
If he had offshore tax haven accounts and excessive, funny deductions, that would be hypocrisy.
Yurt has no point. Just another sore loser, whining and throwing imaginary poop.

Not only that, but even if the top rate was 40% you wouldn't pay a total of 40% because the 40% is only paid on income over a certain threshold. Income below the threshold is taxed at progressively lower rates, some as low as 10%.

According to a CBO report, the top 1% pay an overall tax rate of 19.4% in income taxes.

I think that is also partly because a significant portion of their income is in the form of investment returns, generally taxed at a 15% max rate.

 

[Indiana Oracle]

The Prophet is just another dirt bag like the rest of us. Profession: salesman.

What, exactly, do we expect him to do regarding his taxes besides file like every other dirt bag.

His taxes aren't the problem. His idealism and personal ambition are.

 

[Yurt]

Yeah, we need to raise taxes to generate more revenues. But who ever claimed that anyone should pay more than the legal obligation? I certainly haven't, and I haven't heard Obama say it either. What hypocracy?

why did he pay under bush's plan? i guess he really didn't feel like paying MORE taxes this year huh....

if the rich should pay more, why does he use every legal means possible to lower his rate?

Good lord. Why the hell should he or anyone pay more taxes that legally required?

Do you think Bush should have personally used his own money to pay for the war in Iraq?

Get real.

so in your view, if i went around telling people that the old tax rate of 10% should be repealed and that we should have a tax rate of 20% as 20% is better for america....i would not be hypocritical if paid only 10% because that is all the law requires...

is that right?

 

[Iriemon]

why did he pay under bush's plan? i guess he really didn't feel like paying MORE taxes this year huh....

if the rich should pay more, why does he use every legal means possible to lower his rate?

Good lord. Why the hell should he or anyone pay more taxes that legally required?

Do you think Bush should have personally used his own money to pay for the war in Iraq?

Get real.

so in your view, if i went around telling people that the old tax rate of 10% should be repealed and that we should have a tax rate of 20% as 20% is better for america....i would not be hypocritical if paid only 10% because that is all the law requires...

is that right?

Of course! Until its the law, then everyone pays 20%.

Again, do you think someone who advocates a national policy should personally pay for it?
Do you think Bush should have personally paid for the Iraq war?

 

[Immanuel]

You may not see this as a problem... But there are many, many, many posts from Democrats crying that the rich get all of the breaks and they can afford to hire good accountants who can get around these taxes...

Besides don't you remember Biden saying it's time to be patriotic, be part of the deal...etc...

It's just funny when Democrats get caught doing the same things they cry about...

Biden speaks?

I never listen to him.

Immie

 

[Immanuel]

yes i know the difference, why do you keep missing the point? i know you understand the point....

your last sentence says it all....he promised higher taxes for the rich and didn't mean it. thats my main point. he tells people that the rich should pay more, yet he doesn't.

No, you are calling him a hypocrit for following the law.

He promised higher taxes for the rich and hasn't followed through with that. If he doesn't it makes him a liar, not a hypocrit.

Immie

 

[Yurt]

Good lord. Why the hell should he or anyone pay more taxes that legally required?

Do you think Bush should have personally used his own money to pay for the war in Iraq?

Get real.

so in your view, if i went around telling people that the old tax rate of 10% should be repealed and that we should have a tax rate of 20% as 20% is better for america....i would not be hypocritical if paid only 10% because that is all the law requires...

is that right?

Of course! Until its the law, then everyone pays 20%.

Again, do you think someone who advocates a national policy should personally pay for it?
Do you think Bush should have personally paid for the Iraq war?

so if i tell people that paying 10% taxes harms america and i don't pay 20% taxes that would benefit america because i don't legally have to...i'm not a hypocrite....

sorry, but that is the very definition of hypocrisy....hypocrisy does not require you to be legally compelled to do something. if you say someone should do this and then you don't do "this", that is hypocritical.

your example has absolutely nothing to do with what we are talking about. if i said that obama had ted kennedy pay his taxes, then you might have a point, but this is only about telling others that they should pay more and not paying more youself.

 

[Yurt]

yes i know the difference, why do you keep missing the point? i know you understand the point....

your last sentence says it all....he promised higher taxes for the rich and didn't mean it. thats my main point. he tells people that the rich should pay more, yet he doesn't.

No, you are calling him a hypocrit for following the law.

He promised higher taxes for the rich and hasn't followed through with that. If he doesn't it makes him a liar, not a hypocrit.

Immie

so if i tell people that paying 10% taxes harms america and i don't pay 20% taxes that would benefit america because i don't legally have to...i'm not a hypocrite....

sorry, but that is the very definition of hypocrisy....hypocrisy does not require you to be legally compelled to do something. if you say someone should do this and then you don't do "this", that is hypocritical.

 

[WorldAHope]

WASHINGTON – President Barack Obama and his wife, Michelle, millionaires from his best-selling books, made $2.7 million last year and paid just under one-third of their adjusted income in federal taxes. While the income, mostly his, was far more than the U.S. median household income of about $50,000, it was quite a decrease from the $4.2 million the Obamas made in 2007.


Obamas report $2.7 million in income for 2008

doesn't obama's plan call for those over 250K to have an approx. 40% tax rate?

Current top marginal tax rate is 36%, not 40%. Obama's net tax came to 32%.
Maybe you should go dig through his return to find out his tax accountant's secret.
It is not hypocrisy to follow the tax code.
If he had offshore tax haven accounts and excessive, funny deductions, that would be hypocrisy.
Yurt has no point. Just another sore loser, whining and throwing imaginary poop.

obama campaigned that he WANTS 39.6, i ROUNDED to 40%...read the thread...

it is hypocrisy to tell people the rich need to pay more in taxes, that he wants to get rid of bush's tax plan, that deductions etc should be eliminated so the rich pay more....and then to file under bush's tax plan and use every deduction possible to lower HIS taxes.

see, he has no problem filing under bush's plan because it saves him money. why not walk the want and pay under his higher tax rate?

Obama's tax accountant
Followed The Current tax code, yurt. Did you read that article? How much dio Obama overpay
and apply to his 2009 taxes ? How much interest will he get for that overpayment ?

What part of "follow the current law" do you not understand ?

If he had paid at the higher tax rate, voluntarily, would that make you happy?
No. You'd post that he should be impeached for NOT following the tax code.

Better make sure Obama declares the DOG as a gift, and pays taxes on it.
You are being absurd and just making yourself look foolish and petty.
Please, there are things of substance to discuss.

 

[Yurt]

Current top marginal tax rate is 36%, not 40%. Obama's net tax came to 32%.
Maybe you should go dig through his return to find out his tax accountant's secret.
It is not hypocrisy to follow the tax code.
If he had offshore tax haven accounts and excessive, funny deductions, that would be hypocrisy.
Yurt has no point. Just another sore loser, whining and throwing imaginary poop.

obama campaigned that he WANTS 39.6, i ROUNDED to 40%...read the thread...

it is hypocrisy to tell people the rich need to pay more in taxes, that he wants to get rid of bush's tax plan, that deductions etc should be eliminated so the rich pay more....and then to file under bush's tax plan and use every deduction possible to lower HIS taxes.

see, he has no problem filing under bush's plan because it saves him money. why not walk the want and pay under his higher tax rate?

Obama's tax accountant
Followed The Current tax code, yurt. Did you read that article? How much dio Obama overpay
and apply to his 2009 taxes ? How much interest will he get for that overpayment ?

What part of "follow the current law" do you not understand ?

If he had paid at the higher tax rate, voluntarily, would that make you happy?
No. You'd post that he should be impeached for NOT following the tax code.

Better make sure Obama declares the DOG as a gift, and pays taxes on it.
You are being absurd and just making yourself look foolish and petty.
Please, there are things of substance to discuss.

it is not against the tax code to pay more, you can easily write in more taxes/money you want to give the government AND you DO NOT have to claim any deductions....so your comment is meadowmuffins...

what part of hypocritical do you not understand? would you like me to post a definition for you?

so if i tell people that paying 10% taxes harms america and i don't pay 20% taxes that would benefit america because i don't legally have to...i'm not a hypocrite....

sorry, but that is the very definition of hypocrisy....hypocrisy does not require you to be legally compelled to do something. if you say someone should do this and then you don't do "this", that is hypocritical.

 

[MaggieMae]

WASHINGTON – President Barack Obama and his wife, Michelle, millionaires from his best-selling books, made $2.7 million last year and paid just under one-third of their adjusted income in federal taxes. While the income, mostly his, was far more than the U.S. median household income of about $50,000, it was quite a decrease from the $4.2 million the Obamas made in 2007.


Obamas report $2.7 million in income for 2008

doesn't obama's plan call for those over 250K to have an approx. 40% tax rate?

No, 39% in 2011.

 

[WorldAHope]

obama campaigned that he WANTS 39.6, i ROUNDED to 40%...read the thread...

it is hypocrisy to tell people the rich need to pay more in taxes, that he wants to get rid of bush's tax plan, that deductions etc should be eliminated so the rich pay more....and then to file under bush's tax plan and use every deduction possible to lower HIS taxes.

see, he has no problem filing under bush's plan because it saves him money. why not walk the want and pay under his higher tax rate?

Obama's tax accountant
Followed The Current tax code, yurt. Did you read that article? How much dio Obama overpay
and apply to his 2009 taxes ? How much interest will he get for that overpayment ?

What part of "follow the current law" do you not understand ?

If he had paid at the higher tax rate, voluntarily, would that make you happy?
No. You'd post that he should be impeached for NOT following the tax code.

Better make sure Obama declares the DOG as a gift, and pays taxes on it.
You are being absurd and just making yourself look foolish and petty.
Please, there are things of substance to discuss.

it is not against the tax code to pay more, you can easily write in more taxes/money you want to give the government AND you DO NOT have to claim any deductions....so your comment is meadowmuffins...

what part of hypocritical do you not understand? would you like me to post a definition for you?

so if i tell people that paying 10% taxes harms america and i don't pay 20% taxes that would benefit america because i don't legally have to...i'm not a hypocrite....

sorry, but that is the very definition of hypocrisy....hypocrisy does not require you to be legally compelled to do something. if you say someone should do this and then you don't do "this", that is hypocritical.

If you applied your methodology and paid your 2008 taxes at the proposed, LOWER tax rate that has not been activated at the IRS, would that be okay.
or would it be hypocritcal for the IRS to ask you to stick to 2008 laws ?

No more on this yurt. Go get your screws tightened.

 

[chopcrazy]

If you want to be really critical...take a look at Biden's tax return. He paid only 17% of his nearly 270k of income. Obviously, Biden did not follow Obama's example. Biden must have a darn good accountant or tax attorney.

 

[Iriemon]

so in your view, if i went around telling people that the old tax rate of 10% should be repealed and that we should have a tax rate of 20% as 20% is better for america....i would not be hypocritical if paid only 10% because that is all the law requires...

is that right?

Of course! Until its the law, then everyone pays 20%.

Again, do you think someone who advocates a national policy should personally pay for it?
Do you think Bush should have personally paid for the Iraq war?

so if i tell people that paying 10% taxes harms america and i don't pay 20% taxes that would benefit america because i don't legally have to...i'm not a hypocrite....

sorry, but that is the very definition of hypocrisy....hypocrisy does not require you to be legally compelled to do something. if you say someone should do this and then you don't do "this", that is hypocritical.

your example has absolutely nothing to do with what we are talking about. if i said that obama had ted kennedy pay his taxes, then you might have a point, but this is only about telling others that they should pay more and not paying more youself.

Sorry, I completely disagree. It makes Obama no more a hypocrit than Bush is a hypocrite for not paying personally for the Iraq war which he promoted. Or going over there to fight it himself.

 

[Yurt]

Obama's tax accountant
Followed The Current tax code, yurt. Did you read that article? How much dio Obama overpay
and apply to his 2009 taxes ? How much interest will he get for that overpayment ?

What part of "follow the current law" do you not understand ?

If he had paid at the higher tax rate, voluntarily, would that make you happy?
No. You'd post that he should be impeached for NOT following the tax code.

Better make sure Obama declares the DOG as a gift, and pays taxes on it.
You are being absurd and just making yourself look foolish and petty.
Please, there are things of substance to discuss.

it is not against the tax code to pay more, you can easily write in more taxes/money you want to give the government AND you DO NOT have to claim any deductions....so your comment is meadowmuffins...

what part of hypocritical do you not understand? would you like me to post a definition for you?

so if i tell people that paying 10% taxes harms america and i don't pay 20% taxes that would benefit america because i don't legally have to...i'm not a hypocrite....

sorry, but that is the very definition of hypocrisy....hypocrisy does not require you to be legally compelled to do something. if you say someone should do this and then you don't do "this", that is hypocritical.

If you applied your methodology and paid your 2008 taxes at the proposed, LOWER tax rate that has not been activated at the IRS, would that be okay.
or would it be hypocritcal for the IRS to ask you to stick to 2008 laws ?

No more on this yurt. Go get your screws tightened.

so....you got nothin

got it, thanks

 

[Yurt]

Of course! Until its the law, then everyone pays 20%.

Again, do you think someone who advocates a national policy should personally pay for it?
Do you think Bush should have personally paid for the Iraq war?

so if i tell people that paying 10% taxes harms america and i don't pay 20% taxes that would benefit america because i don't legally have to...i'm not a hypocrite....

sorry, but that is the very definition of hypocrisy....hypocrisy does not require you to be legally compelled to do something. if you say someone should do this and then you don't do "this", that is hypocritical.

your example has absolutely nothing to do with what we are talking about. if i said that obama had ted kennedy pay his taxes, then you might have a point, but this is only about telling others that they should pay more and not paying more youself.

Sorry, I completely disagree. It makes Obama no more a hypocrit than Bush is a hypocrite for not paying personally for the Iraq war which he promoted. Or going over there to fight it himself.

so then obama is a hypocrite because he won't pay for afghanistan which he has promoted expanding that war and has ordered additional troops and funding for.... with his own money and will not go there personally and fight....

at least you admit obama is a hypocrite on something, even if you can't see the blatent hypocrisy on the tax things, good for you!

 

[MaggieMae]

SPECIFICALLY... how did Bush screw us?

(Now enjoy how she answers this...

She'll cry about Bush being a strong advocate of American security in his prosecution of the war against Islamic terrorism...

and of course the deficit spending WHICH NO ONE SHOUTED LOUDER IN CONTEST OF THAT SPENDING THAN WE, THE AMERICANS, SHOUTED...

So she 'feels' that Bush screwed us... even while she applauds a much more egregeous screwing by The Lord of the Idiots and his leftist minions in the legislature.)

So where were you? I've been posting for almost 10 years, and I saw no one except those who appreciated Clinton's handling of the economy complaining about Bush's lavish spending. Where were the tea parties? Was FoxNews railing every night about increased deficit spending? Who but us were complaining that it is unthinkable to try to do two wars AND cut taxes at the same time. Were you? Did you write or email your own lawmakers then and demand that they stop bowing to every K-Street lobbyist (an increase of 50% in just five years)? Did Bush ever meet a spending bill he didn't like?

In Bush's first speech on the economy to a joint session in February 2001, he actually praised Clinton and the fact that he (Bush) was inheriting a budget surplus. After a glowing speech outlining his own plan to spend his "political capital," Bush even announced that he would have a trillion left over [for contingencies]. Happy talk, then he sunk the ship. Where was the outrage?

Bush Speech to Congress: 27 Feb 2001

 

[MaggieMae]

The president wants to roll back the Bush tax cuts on the affluent, reinstating the 36 percent and 39.6 percent rates for those earning more than $250,000 (married) and $200,000 (single). He also called for a reinstatement of the "personal exemption phaseout" and limitation on the deductions applied to taxpayers earning more than the aforementioned incomes.

Obama Wants Higher Capital Gains Tax Rate: Too Far Or Not Enough?

see post above, obama did not do this, he took every exemption he could...and filed under bush's rate....why did he not walk the walk and file under his rate?
http://www.whitehouse.gov/assets/documents/president_federal1040.pdf

If he had, you and your ilk would be calling him a grandstander, a martyr for his cause, and a phony.

Admit it, the man can do nothing right in in the minds(?) of those who occupy your tiny little camp.