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Old 02-08-2017, 07:54 PM
 
8,532 posts, read 7,688,479 times
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Quote:
Today, the President released his 2015 federal income tax returns. The President and the First Lady filed their income tax returns jointly and reported adjusted gross income of $436,065. The Obamas paid $81,472 in total tax. The Presidentís effective federal income tax rate is 18.7 percent.
The Obamas also contributed over $60K to various charities.

But wait....

Quote:
The Vice President and Dr. Jill Biden also released their 2015 federal income tax returns, as well as state income tax returns for both Delaware and Virginia.

The Bidens filed joint federal and combined Delaware income tax returns. Dr. Biden filed a separate non-resident Virginia tax return.

Together, they reported adjusted gross income of $392,233.

The Bidens paid $91,546 in total federal tax for 2015, amounting to an effective tax rate of 23.3%. They also paid $13,729 in Delaware income tax and Dr. Biden paid $3,882 in Virginia income tax. The Bidens contributed $6,620 to charity in 2015.
https://obamawhitehouse.archives.gov...15-tax-returns

Go figure!
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Old 02-08-2017, 07:56 PM
 
50,620 posts, read 26,709,379 times
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You don't even care if Trump has ever paid a dime of taxes, but you're trying to convince us to worry about what Obama pays AFTER he's left office?

Last edited by desertdetroiter; 02-08-2017 at 08:06 PM..
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Old 02-08-2017, 07:58 PM
 
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Waaay too much.
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Old 02-08-2017, 07:58 PM
 
Location: Places you dream of
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Obama has children and maybe Biden more investments. He's a lot older
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Old 02-08-2017, 08:00 PM
 
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Well, the Obama's had more in itemized deductions it would appear (just in charity alone). They most likely had other things to itemize that the Biden's didn't). The Obama's also have two dependents. And like another poster said, the Biden's probably have more investment income.
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Old 02-08-2017, 08:01 PM
 
Location: United States
10,950 posts, read 5,067,394 times
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Quote:
Originally Posted by Informed Info View Post
The Obamas also contributed over $60K to various charities.

But wait....



https://obamawhitehouse.archives.gov...15-tax-returns

Go figure!
Personally I don't care what politicians pay in taxes, including politicians I don't like.

Their taxes are their private business.


Quote:
Originally Posted by desertdetroiter View Post
You don't even care if Trump has ever paid a dime of taxes, but you're trying to convince us to worry about what Obama pays?
Trump pays more in taxes in just one year that you paid your entire life.

But since you dems think that taxes are so important, this should be a relevant thread to you.

Well, I'm waiting for you dems to attack the Obama's for not paying their fair share.
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Old 02-08-2017, 08:05 PM
 
8,532 posts, read 7,688,479 times
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Quote:
Originally Posted by desertdetroiter View Post
You don't even care if Trump has ever paid a dime of taxes, but you're trying to convince us to worry about what Obama pays?
When you lose money in investments, as Trump did, as a sibling of mine did and as I did....you get to write those losses off, depending on the amount for YEARS and not have to pay Fed taxes.

It's the way it works.

Do you have a problem with it?

Then do something about it.

Obama's effective Fed tax rate, after his adjusted gross (which means he also takes advantage of what he can take advantage of) is almost 20% LESS than mine. And mine, which starts with a 3, is just Federal.
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Old 02-08-2017, 08:05 PM
 
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I wonder what tax loophole they used to get past the AMT... they make too much for itemized deductions to really matter...
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Old 02-08-2017, 08:07 PM
 
20,741 posts, read 13,749,199 times
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Quote:
Originally Posted by Informed Info View Post
The Obamas also contributed over $60K to various charities.

But wait....



https://obamawhitehouse.archives.gov...15-tax-returns

Go figure!

Obamas still have dependent children, whereas the Bidens do not.
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Old 02-08-2017, 08:11 PM
 
1,912 posts, read 994,738 times
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Quote:
Originally Posted by evilnewbie View Post
I wonder what tax loophole they used to get past the AMT... they make too much for itemized deductions to really matter...
In the link to the story there is a link to their tax forms. They paid AMT. Their taxes are 45 pages long! Ugh! I won't complain about mine anymore (I had dividend income to claim from stock and I thought that was a pain to figure out).

Obama's had $145k in itemized deductions (plus two kids)
Biden's had $55k in itemized deductions
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