healthmyths
Platinum Member
- Sep 19, 2011
- 29,333
- 10,786
- 900
THIS hypocrite criticizing "millionaires and billionaires"..
the dumb dick COULD NOT HAVE done this and lead by example to the other evil
millionaires/billionaires and NOT taken these loopholes!!!
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 presidents taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthymillionaires and billionaires like himselfto pay less in taxes. He has yet to propose a comprehensive plan to reform the byzantine tax code.
The Obamas tax return indicates that the gifts, likely for their daughters college educations, began in 2007, when the maximum exemptible amount was $24,000 per couple. The maximum exemption has since increased to $26,000 per couple.
Obama Family Tax Shelter | Washington Free Beacon
the dumb dick COULD NOT HAVE done this and lead by example to the other evil
millionaires/billionaires and NOT taken these loopholes!!!
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 presidents taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthymillionaires and billionaires like himselfto pay less in taxes. He has yet to propose a comprehensive plan to reform the byzantine tax code.
The Obamas tax return indicates that the gifts, likely for their daughters college educations, began in 2007, when the maximum exemptible amount was $24,000 per couple. The maximum exemption has since increased to $26,000 per couple.
Obama Family Tax Shelter | Washington Free Beacon