Will Obama NOT use tax loopholes in filing his taxes??

Discussion in 'Politics' started by healthmyths, Dec 27, 2011.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    Obama in his class warfare drive to divide the country could when doing his taxes in 2012 just take the simple tax form i.e. don't take the deductions for donations, for mortgage payments, interest as he did in 2010!

    $1,728,096 Obama's adjusted gross income
    245,075 14.18% of his income as donations to charities tax loophole!
    49,945 home mortgage interest tax loophole!
    122,527 Long term capital loss CARRYOVER!!! 7% sheltered income!! tax loophole!
    $417,547 TAX LOOPHOLES and Obama only paid:
    $453,770 26.26% of gross income.
    Obama's 2010 Tax Returns
    If your 2010 you decide NOT to deduct donations the $245,075 you donated then you would have paid more taxes to fund your wife's vacations!

    You as a "millionaire" took tax deductions of 14% which if you lead the "Ben & Jerry's limousine liberal millionaires like you" had done that instead of hypocritically accusing others maybe more Americans like me would have a little more respect!

    You of ALL people could have "donated" the $471,547 you wrote off PLUS
    you could have paid instead of just $453,770 (26%) another $236,839
    to the government!

    Why didn't you at least mitigate people calling you an hypocrite?
     
    Last edited: Dec 27, 2011
  2. healthmyths
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    healthmyths Gold Member Supporting Member

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    So all of you hypocritical liberal/progressives hollering and whining about tax loop hole millionaires and billionaires where is your outrage over Obama taking almost $500,000 in tax LOOPHOLES!!!
     
  3. Oddball
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    Oddball BANNED Supporting Member

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    The biggest loophole of all...."Earned" income.
     
  4. ladyliberal
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    ladyliberal Progressive Princess

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    This is similar to a point many people have made, and I just don't see hypocrisy here. There is nothing inconsistent with saying taxes should be higher and yet not donating money to the federal government in addition to what they honestly owe in taxes. Obama has honestly claimed tax breaks, including for charitable donations. In contrast, Americans collectively avoided paying $3 trillion in the last decade (Tax Cheats Cost Uncle Sam $3 Trillion; Cost You $2200 in 2010 | Fin - Daily Ticker - US - Yahoo! Finance) in taxes by defrauding the government. And, in Obama's case, his total ch

    As the discussion turns to the tax returns of Presidents, I would be remiss if I failed to note that Romney has said that he plans not to release his own tax returns if he wins the Republican nomination (Romney Plan to Keep Tax Return Private Breaks With Past - Businessweek). If he doesn't, he will surely take political heat for that decision. One would be forced to wonder what politically embarrassing facts exist in those returns that could justify such a decision.
     
  5. rdean
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    rdean rddean

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    Republicans put them there to be used. Why shouldn't he?
     
  6. Political Junky
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    Political Junky Gold Member

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    He took what's allowable by law. Your problem is?
     
  7. Old Rocks
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    Old Rocks Diamond Member

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    Well, Myth and Oddie, you took none? Are you truly that stupid?
     
  8. healthmyths
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    healthmyths Gold Member Supporting Member

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    Evidently the point zoomed WAY over your heads!
    The last person to criticize "tax loopholes" for "millionaires and billionaires" is Obama!
    A) he's a millionaire!
    B) He used the same loophole that EVIDENTLY NONE of you are aware of..i.e. Net Operating Losses!

    Schedule D Capital Gains and Losses Pag 10
    Obama is USING LOSSES from prior years .. in 2010 writes off DEDUCTS $122,527!
    And next year he'll WRITE OFF $119,527!

    AND NONE of you kool aid drinkers see the hypocrisy?
    Are you so brainwashed you really think Obama is as the editor of NewsWeek once said:

    " I mean in a way Obama’s standing above the country, above – above the world, he’s sort of God." – NewsWeek Editor Evan Thomas..

    GEEZ what is wrong with you people?
    The idiot complains about OTHERS using "tax loopholes" and he is adding to what is about
    $267 billion a year in LOST TAX revenue from the last 10 years of $8 trillion in losses due to:
    1) Dot.com bust.. 2) did you forget 9/11? 3) worst hurricanes in history..
    These EVENTS are part of the cause of the DEFICIT each year and while I HAVE ABSOLUTELY NO
    problem in tax payers using every tax loophole JUST AS OBAMA does.. I find it patently OFFENSIVE that HE criticizes OTHERS for doing exactly what he DOES!
    A HYPOCRITE!
     
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  9. Political Junky
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    Political Junky Gold Member

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    Evidently, Obama's smarter than those who aren't aware of it.
     
  10. paulitician
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    paulitician Platinum Member Supporting Member

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    Will his "Jobs Czar" GE CEO Jeffrey Immelt NOT use tax loopholes in filing his taxes??
     
    Last edited: Dec 28, 2011

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