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BoneKracker
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 Posted: Sat Apr 14, 2012 3:07 am Post subject: Obama's tax rate was 20.5%; lower than his secretary's |
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| Quote: | The president and first lady reported a joint adjusted gross income of $789,674 last year and paid $162,074 in federal taxes, or about 20.5%, according to the tax return released Friday by the White House. That income keeps the Obamas in the top 1% of taxpayers.
The Obamas' overall tax rate is slightly lower than the average for people in the top tier — largely because he made significant donations to charity. Data compiled by the Tax Policy Center show the average income tax rate for those making more than $532,000 is 24%. Obama's rate was closer to the average for household earning more than $210,000 — 19.2%
The Obamas' 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% of their income in federal incomes taxes, according to the Tax Policy Center. Polling consistently has shown that most people think they pay much more in income taxes than they do, in part because people focus on their marginal tax rate — the tax they pay on the last dollar they earn — not their average tax rate. |
http://www.latimes.com/news/politics/la-na-obama-taxes-20120414,0,1801682.story
A local reporter from St. Louis also got on his case yesterday about taking his family on all kinds of vacations at taxpayer expense while people are suffering, and then tells viewers the President side-stepped the question:
http://www.youtube.com/watch?feature=player_embedded&v=RHr7758u_lc
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pjp
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| Posted: Sat Apr 14, 2012 3:24 am Post subject: |
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So why does the Buffett Boondoggle focus on EARNED income, when people like Buffett make most of their money from non-earned income? Last I'd read, Ellison was at $251k, and Jobs was famous for the $1 salary.
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BoneKracker
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| Posted: Sat Apr 14, 2012 3:34 am Post subject: |
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I don't know, but there's no way for Obama not to look hypocritical. The White House's response to "WTF?" questions from reporters is, "See, we told you! We really do need this new rule!" 
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richk449
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| Posted: Sat Apr 14, 2012 4:02 am Post subject: |
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| Suggested rule: all congresspeople and presidents are taxed the larger of: 30% of their income, or 1% of the national debt for that year. |
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Muso
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| Posted: Sat Apr 14, 2012 4:47 am Post subject: |
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Better rule. tylerwylie's progressive/flat/fair tax based upon 0%.
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BoneKracker
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| Posted: Sat Apr 14, 2012 4:57 am Post subject: |
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Why tax income at all? If the goal is "wealth redistribution", shouldn't leftists be arguing for a tax on wealth?
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Oldthinkers unbellyfeel INGSOC.
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notageek
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| Posted: Sat Apr 14, 2012 5:00 am Post subject: |
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Oblaba.
OTW, the fantasy world that it is, is a medium for Republicans to blow steam when they know very well they can't beat him this year.
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Muso
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| Posted: Sat Apr 14, 2012 5:09 am Post subject: |
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| notageek wrote: | Oblaba.
OTW, the fantasy world that it is, is a medium for Republicans to blow steam when they know very well they can't beat him this year. |
It's so obvious that you don't live in the USA. I'm in the bluest of the blue states, and people are pissed at Obama here.
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BoneKracker
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| Posted: Sat Apr 14, 2012 5:13 am Post subject: |
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Notageek fails at trolling.
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notageek
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| Posted: Sat Apr 14, 2012 5:18 am Post subject: |
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I'll be right here when and if that happens.
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richk449
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| Posted: Sat Apr 14, 2012 5:18 am Post subject: |
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| The Earth wrote: | | notageek wrote: | Oblaba.
OTW, the fantasy world that it is, is a medium for Republicans to blow steam when they know very well they can't beat him this year. |
It's so obvious that you don't live in the USA. I'm in the bluest of the blue states, and people are pissed at Obama here. |
He didn't say that people wern't pissed at Obama. He said that the republicans can't beat Obama this year. |
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richk449
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| Posted: Sat Apr 14, 2012 5:19 am Post subject: |
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| BoneKracker wrote: | | Why tax income at all? If the goal is "wealth redistribution", shouldn't leftists be arguing for a tax on wealth? |
I don't know of any leftist that argues that an income tax is the "best" form of tax. |
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Muso
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| Posted: Sat Apr 14, 2012 5:21 am Post subject: |
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| richk449 wrote: | | The Earth wrote: | | notageek wrote: | Oblaba.
OTW, the fantasy world that it is, is a medium for Republicans to blow steam when they know very well they can't beat him this year. |
It's so obvious that you don't live in the USA. I'm in the bluest of the blue states, and people are pissed at Obama here. |
He didn't say that people wern't pissed at Obama. He said that the republicans can't beat Obama this year. |
Romney's not unlikable. They can't paint him as a "right wing extremist", and they just shot themselves in the foot attacking his cancer surviving, MS suffering wife. He's more appealing to America as a whole than the radical hero of the black panthers that is currently squatting in the White House.
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BoneKracker
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| Posted: Sat Apr 14, 2012 5:23 am Post subject: |
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| richk449 wrote: | | BoneKracker wrote: | | Why tax income at all? If the goal is "wealth redistribution", shouldn't leftists be arguing for a tax on wealth? |
I don't know of any leftist that argues that an income tax is the "best" form of tax. |
Me either. What I said was, "why aren't they arguing for a wealth tax"?
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ichbinsisyphos
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| Posted: Sat Apr 14, 2012 5:25 am Post subject: |
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They posted so much bullshit that they started to believe it themselves. |
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richk449
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| Posted: Sat Apr 14, 2012 5:29 am Post subject: |
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| BoneKracker wrote: | | richk449 wrote: | | BoneKracker wrote: | | Why tax income at all? If the goal is "wealth redistribution", shouldn't leftists be arguing for a tax on wealth? |
I don't know of any leftist that argues that an income tax is the "best" form of tax. |
Me either. What I said was, "why aren't they arguing for a wealth tax"? |
Who is "they" and why do you think that "they" aren't? |
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notageek
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Location: Bangalore, India
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| Posted: Sat Apr 14, 2012 5:36 am Post subject: |
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| richk449 wrote: | | The Earth wrote: | | notageek wrote: | Oblaba.
OTW, the fantasy world that it is, is a medium for Republicans to blow steam when they know very well they can't beat him this year. |
It's so obvious that you don't live in the USA. I'm in the bluest of the blue states, and people are pissed at Obama here. |
He didn't say that people wern't pissed at Obama. He said that the republicans can't beat Obama this year. |
Thanks.
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richk449
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| Posted: Sat Apr 14, 2012 5:41 am Post subject: |
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Thank you for not stealing my job.  |
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Muso
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| Posted: Sat Apr 14, 2012 5:42 am Post subject: |
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| richk449 wrote: |
Thank you for not stealing my job. |
That's just mean.
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BoneKracker
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| Posted: Sat Apr 14, 2012 5:50 am Post subject: |
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| richk449 wrote: | | BoneKracker wrote: | | richk449 wrote: | | BoneKracker wrote: | | Why tax income at all? If the goal is "wealth redistribution", shouldn't leftists be arguing for a tax on wealth? |
I don't know of any leftist that argues that an income tax is the "best" form of tax. |
Me either. What I said was, "why aren't they arguing for a wealth tax"? |
Who is "they" and why do you think that "they" aren't? |
I don't think there is any ambiguity as to who "they" are, but I'm surprised you didn't excerpt my quote from the context to create that appearance, as you have done in the past. They is in red above. In case it's not clear, I'm talking about American leftists arguing for this as a change to American tax policy.
I don't know that they're not arguing for it, only that I have never heard it.
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notageek
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| Posted: Sat Apr 14, 2012 5:56 am Post subject: |
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| richk449 wrote: |
Thank you for not stealing my job. |
Thanks to me not being a Physicist with economics minor.
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aidanjt
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| Posted: Sat Apr 14, 2012 8:15 am Post subject: |
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A tax on tax-derived income. Makes sense. Or, they could just proportionally reduce their salaries.
Then again, I'm sure some moron will go OMFGOBAMADOESNTPAY*ANY*TAX!!!!111111111!!!!!!! So scrap that..
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juniper
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| Posted: Sat Apr 14, 2012 1:31 pm Post subject: |
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| aidanjt wrote: | A tax on tax-derived income. Makes sense. Or, they could just proportionally reduce their salaries.
Then again, I'm sure some moron will go OMFGOBAMADOESNTPAY*ANY*TAX!!!!111111111!!!!!!! So scrap that.. |
if republicans would stop blocking the raising of taxes on the wealthy, this wouldn't happen.
Not sure how this makes him hypocritical, but there you go  his tax rate is set and he is paying it. he is the one saying it should change. |
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pjp
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| Posted: Sat Apr 14, 2012 3:29 pm Post subject: |
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| The Earth wrote: | | Romney's not unlikable. |
Uhm, OK. Possibly true, but he isn't likable. Which is the major image problem he's been trying to deal with. "My father grew up poor..." etc.
| The Earth wrote: | | They can't paint him as a "right wing extremist", and they just shot themselves in the foot attacking his cancer surviving, MS suffering wife. He's more appealing to America as a whole than the radical hero of the black panthers that is currently squatting in the White House. |
They certainly can. He's rich and thrives on being a corporate raider and ruining the lives of those he fires. I'm not convinced he's more appealing to America than Obama. If Obama loses, it will be due to people deciding Obama needs to go, not because they want Romney. I've yet to hear anyone actually want Romney. Just some who would rather him instead of Obama.
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wswartzendruber
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| Posted: Sat Apr 14, 2012 5:08 pm Post subject: |
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| Obama also gave a huge chunk of his money to charity. Now what constitutes "charity" is something I'm not clear on. |
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