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I don't remember you complaining about Romney not paying taxes during the election...
Romney paid taxes and I can almost guarantee more than you in sheer number and effective tax rate.
Quote:
Originally Posted by petch751
Obama has a net worth of $11 million. He just released his 2012 federal income tax returns. He and the First Lady filed their income tax returns jointly and reported adjusted gross income of $608,611. The Obamas paid $112,214 in total tax.
Obama's effective federal income tax rate is 18.4%.
Obama's effective tax rate is higher than more than 90% of Americans easily.
CNN did a story about how Romney's 14% effective tax rate was at the very worst higher than 80% of the country's effective tax rate and probably closer to 90%. The pro-Obama talking point about Romney paying less than the middle class teachers, fireman, and etc...was a distortion of people not understanding how progressive brackets, deductions, and dividend taxes factor into "effective tax rates." The Obama campaign was smart to play off the ignorance of voters.
Keep in mind, Romney makes most f his money from Dividends taxed at 15%.
Obama has a net worth of $11 million. He just released his 2012 federal income tax returns. He and the First Lady filed their income tax returns jointly and reported adjusted gross income of $608,611. The Obamas paid $112,214 in total tax.
Obama's effective federal income tax rate is 18.4%.
I think I heard he gave about 200K to charity. That would be the difference.
Quote:
The President and First Lady also reported donating $150,034 – or about 24.6 percent of their adjusted gross income – to 33 different charities. The largest reported gift to charity was $103,871 to the Fisher House Foundation
another poster that doesn't understand how income is taxed. He may be worth $11 million, but that is not what he EARNED in a year.
Exactly, with a net worth of $11 million he is wealthy but goes after the sucker who don't have anything near $11 million. People on the left are so jealous and naive.
Did you see the story about Costco borrowing $3.5 billion to pay a special $7 a share dividend to its stockholders before year's end to avoid being hit by President Obama's higher tax on investors?
What makes this story especially juicy is that it reveals how Obama's fat cat supporters, who bankrolled his bid for a second term and embraced his proposed tax increases, have taken steps to shield themselves from the president's "tax the rich" fiscal money grab.
Obama has a net worth of $11 million. He just released his 2012 federal income tax returns. He and the First Lady filed their income tax returns jointly and reported adjusted gross income of $608,611. The Obamas paid $112,214 in total tax.
Obama's effective federal income tax rate is 18.4%.
I don't have any data in front of me to cite, but I'm pretty confident that the vast majority of American taxpayers have an effective federal income tax rate below 18.4%.
The Conservative OP thinks Obama didn't pay his fair share. I think this is the first time I've come across a conservative poster claiming someone who made more than 500K didn't pay their fair share. I say "Life isn't fair".
The bigger question is "where did all his income go?"
And that is NONE of anyones freakin business!!! is it?????
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