- Sep 14, 2011
- 63,931
- 9,964
- 2,040
Tax History Project: Presidential Tax Returns
While Mr Etch a Sketch is hiding his tax returns or making only parts public, President and Mrs Obama have made theirs public since the year 2000. At times, Bush and Cheney made public only portions of their tax returns.
Some little factoids -
OBAMA'S INCOME: 20.1 Percent IN FEDERAL TAXES; 22.5 Percent TO CHARITY
That's 42.6 Percent of their total earnings....Plus
$1.4 Million Nobel Prize Money To Charity
$5.6 million income; $1.8 million Federal Taxes..
20.1 Percent in Federal Income Tax
The average One Percenter pays 21.8 percent.
BUT....The Obama's' overall rate was still much higher than that of most middle-income Americans. Households making between $60,000 and $100,000 paid on average 8 Percent of their income in federal incomes taxes, according to the Tax Policy Center.
The Obama's donated $172,130 to charities in 2011, 22.5% of their adjusted gross income. The largest beneficiary was the Fisher House Foundation, which received $117,130 the after-tax proceeds of the president's children's book, "Of Thee I Sing: A Letter to My Daughters." Fisher House Foundation is best known for the network of comfort homes built on the grounds of major military and VA medical centers. The Fisher Houses are 5,000 to 16,800-square-foot (1,560 m2) homes, donated to the military and Department of Veterans Affairs, where families can stay while a loved one is receiving treatment. Additionally, the Foundation ensures that families of service men and women wounded in Iraq or Afghanistan are not burdened with unnecessary expense during a time of crisis.
In addition, there was that $1.4 million in Nobel Prize money not included on the form because President Obama turned it entirely over to charity. Nobel pays out its prize money in annual allotments. The Obama's donated all of the prize money to 10 charities. Full list at The President Donates Nobel Prize Money to Charity | The White House
The first couple paid $31941 in Illinois income tax.
This is the president putting his money where his mouth is.
While Mr Etch a Sketch is hiding his tax returns or making only parts public, President and Mrs Obama have made theirs public since the year 2000. At times, Bush and Cheney made public only portions of their tax returns.
Some little factoids -
OBAMA'S INCOME: 20.1 Percent IN FEDERAL TAXES; 22.5 Percent TO CHARITY
That's 42.6 Percent of their total earnings....Plus
$1.4 Million Nobel Prize Money To Charity
$5.6 million income; $1.8 million Federal Taxes..
20.1 Percent in Federal Income Tax
The average One Percenter pays 21.8 percent.
BUT....The Obama's' overall rate was still much higher than that of most middle-income Americans. Households making between $60,000 and $100,000 paid on average 8 Percent of their income in federal incomes taxes, according to the Tax Policy Center.
The Obama's donated $172,130 to charities in 2011, 22.5% of their adjusted gross income. The largest beneficiary was the Fisher House Foundation, which received $117,130 the after-tax proceeds of the president's children's book, "Of Thee I Sing: A Letter to My Daughters." Fisher House Foundation is best known for the network of comfort homes built on the grounds of major military and VA medical centers. The Fisher Houses are 5,000 to 16,800-square-foot (1,560 m2) homes, donated to the military and Department of Veterans Affairs, where families can stay while a loved one is receiving treatment. Additionally, the Foundation ensures that families of service men and women wounded in Iraq or Afghanistan are not burdened with unnecessary expense during a time of crisis.
In addition, there was that $1.4 million in Nobel Prize money not included on the form because President Obama turned it entirely over to charity. Nobel pays out its prize money in annual allotments. The Obama's donated all of the prize money to 10 charities. Full list at The President Donates Nobel Prize Money to Charity | The White House
The first couple paid $31941 in Illinois income tax.
This is the president putting his money where his mouth is.
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