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I want to know why Obama is paying less than $6,000 property tax on a $2 million home (and, yes, he does live in a city neighborhood of multi-million dollar homes).
30% of $1.9 million is $570,000. 5.5% of that is $31,350.
Apparently, Obama has some sort of a deal in which he's WAYunder-paying his property taxes.
I looked up that PIN and the bills are going to a Jane Stuart. What makes you think this is Obama's property? If you do a Google image search the house looks completely different than the one listed in your Zillow link.
Hilarious that this is the only negative thing you can pull out of his tax returns.
OP did not say that was all.....that is just what he felt GLARED for further scrutiny... Now that Romney has showed up BO regarding things like his contributions (of which he did not claim all of them) as well as his ability to manage large sums of money...What kind of diversion do you think this adm and his zars will come up next next to try and deflect the REAL media with to keep his continued debauckles under wraps with?
Apparently he has a huge amount invested in U.S. treasuries. Deferred interest. He will pay when he cashes them in.
The interest on treasuries is generally due annually. The US quit issuing long-term notes. Maybe old zero-coupons. We don't know because be refuses to release the details and explain how he has avoided paying tax.
I note your article indicates he had a Swiss bank account. I wonder why no outrage from the Left?
I should also note the old zeroes and other tax-deferred instruments were only available in large face denominations. In other words, the rich. You aren't telling me Obama used tax loopholes available to the rich to defer tax, are you?
Hilarious that this is the only negative thing you can pull out of his tax returns.
Uhhhh, I'm pretty sure it's the illiterate left who keeps vomiting up the subject of tax returns. If the left spied something like that on Romney's returns, they would have one of the biggest circle jerks in the history of mankind.
Uhhhh, I'm pretty sure it's the illiterate left who keeps vomiting up the subject of tax returns. If the left spied something like that on Romney's returns, they would have one of the biggest circle jerks in the history of mankind.
Swiss account and tax loopholes. They're not just for Republicans anymore.
I looked up that PIN and the bills are going to a Jane Stuart. What makes you think this is Obama's property? If you do a Google image search the house looks completely different than the one listed in your Zillow link.
That is Obama's address. Apparently, the property is not held in his name.
I should also note the old zeroes and other tax-deferred instruments were only available in large face denominations. In other words, the rich. You aren't telling me Obama used tax loopholes available to the rich to defer tax, are you?
I don't know much about T-bonds. We own a chunk of I bonds, which have deferred interest. I just assumed T-bonds were similar. I didn't think deferring taxes was a bad thing. That's what 401(k)'s and IRA's are for, and lots of middle class Americans have those. It's part of the US tax code to give incentives for certain activities, like saving for retirement or buying a house.
I thought it was interesting that he chose Vanguard Wellesley Fund. We have a large chunk in that fund too.
I don't know much about T-bonds. We own a chunk of I bonds, which have deferred interest. I just assumed T-bonds were similar. I didn't think deferring taxes was a bad thing. That's what 401(k)'s and IRA's are for, and lots of middle class Americans have those. It's part of the US tax code to give incentives for certain activities, like saving for retirement or buying a house.
I thought it was interesting that he chose Vanguard Wellesley Fund. We have a large chunk in that fund too.
401k are limited to ~$16k. IRA's have a limit and phase out and higher incomes. There are tax-free municipals but those are at the state level.
Treasuries are usually after-tax investments, and usually the interest is taxed annually. There are exceptions.
I don't have a problem with him deferring tax. I did the same thing. I have a problem with liberals screaming about Romney's returns when Obama does the exact the same. Where is the outrage over Obama's Swiss account?
No, his house is in the link you just posted. The pretty one. The tax records for the property PIN you originally posted show an ugly 1,440 square foot two story narrow brick building worth only $391,000 located at 5046 S Greenwood Ave. The record doesn't list the owner, just the mailing address for the tax bill.
Now I think I may see the reason for the tax discrepancy...if that was the original building on the lot assessed at 391K, and the Obamas tore down that building and built a new house on the lot, perhaps the assessment hasn't been updated to reflect that. Where I live they do assessments every 10 years. If you're that concerned, I'm sure you can call the Cook county property tax assessor and ask why the property record is not up to date.
What do you think about the Palins not reporting that a vacation cabin had been built on land they owned so that they were underpaying their property taxes? Were you upset about that too? Because, you know, the Obama's house is well known and in a popular area of Chicago. The Palin cabin was out in the middle of nowhere and the assessor had to rely on the honesty of property owners to report improvements. Which, of course, they did not.
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