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Does Obama Pay Less Taxes Than His Secretary?

Tyler Durden's picture




 

Courtesy of the class division SWAT team, we already know all too well that Buffett had a lower tax rate than this secretary. We however have a question: according to just released data, the Obama's paid $789,674 in taxes in 2011...

  • OBAMAS PAID 20.5% IN TAXES ON $789,674 IN 2011

From Bloomberg: "President Obama, wife Michelle had adjusted gross income of $789,674 in 2011, paid $162,074 in taxes, according to federal tax returns released by White House."

Source: White House

So... inquiring minds want to know if the Fairness Expert in Chief paid less than his secretary in 2011?

 

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Fri, 04/13/2012 - 11:29 | 2341765 Toomuch
Toomuch's picture

Don't you know that Consumers pay all taxes.

Income taxpayers including individuals and corporations merely transfer Consumers' money to the Treasury.

Fri, 04/13/2012 - 11:31 | 2341774 Dre4dwolf
Dre4dwolf's picture

How can you have income?

How do you earn income?

 

What is Income?

Are Liabilities taxable? can you tax debt?

Federal Reserve Notes are debt instruments, they are not assets directly.

If Income = Earnings, than what if I didn't earn my income? what if I .... found it? what if I worked for less than what my labor was worth? wouldn't that constitute a loss?

Fri, 04/13/2012 - 11:40 | 2341797 GolfHatesMe
GolfHatesMe's picture

Lots of deductions writing off all of the MSM expenses.  Cripe, that could bring down any amount of income. 

Fri, 04/13/2012 - 11:40 | 2341800 justanothernerd
justanothernerd's picture

I just wasted 10 minutes of my life reading their tax return -- our country's tax system is freakishly complicated. 

Fri, 04/13/2012 - 11:42 | 2341805 SimpleSimon
SimpleSimon's picture

He certainly paid less than Biden, lol.  The Biden's effective tax rate was 23.2%. (87.9K tax on 379k income)

Poor Biden, he makes less than Obama and pays a higher tax rate than Obama, ROFL.  How is Obama going to explain this away?

Fri, 04/13/2012 - 11:43 | 2341814 smb12321
smb12321's picture

I think I speak for the vast majority of Americans who - whether they supported BO or not - wished him well after the election.  What we got instead was a guy who sows division, attacks success, campaigns 24/7/365 and yet can't submit a budget supported by his own party.

Perhaps it was inevitable since he lacks elements shared by other presidents - Boy Scouts, athletics, military, work at a real job, exective or management experience. Add liberation theology and radical associates along with a hugely inflated elong with the idea that the goal of economics is to distribute wealth and you get BO. He truly believes prosperity comes from massive government spending and not the private sector.  That alone is so bizarre as to defy description.  

Fri, 04/13/2012 - 12:01 | 2341879 mayhem_korner
mayhem_korner's picture

I think I speak for the vast majority of Americans who - whether they supported BO or not - wished him well after the election.

 

I think you are blind if you think that was the sentiment of the "vast majority" of Americans.  Barry has turned out exactly as expected for anyone with two working eyes and the discernment of a fifth-grader.  His true, even more radical colours will shine through if he is re-elected.

Fri, 04/13/2012 - 13:57 | 2342313 therearetoomany...
therearetoomanyidiots's picture

as he promised to Vladamir throug Dmitry...

http://www.youtube.com/watch?v=TA_0YS7tK04

 

 

Fri, 04/13/2012 - 12:02 | 2341888 ATM
ATM's picture

He does not believe that prosperity comes from massive government spending. He believes that government POWER comes from massive government spending. The "prosperity" angle is only used to garner the votes of idiots.

Fri, 04/13/2012 - 12:04 | 2341896 AnAnonymous
AnAnonymous's picture

He truly believes prosperity comes from massive government spending and not the private sector.

_________________________________________________

Obama is your typical US citizen president. He is likely aware of the fact that the US of A's success story is the success of the State.

After that, you've got US citizen propaganda and fantasy.

Fri, 04/13/2012 - 12:16 | 2341954 TheFourthStooge-ing
TheFourthStooge-ing's picture

I have to agree with AnAnonymous here.

Of course, this means he'll now contradict himself in order to disagree with my agreement.

 

Fri, 04/13/2012 - 12:14 | 2341946 AnAnonymous
AnAnonymous's picture

Perhaps it was inevitable since he lacks elements shared by other presidents - Boy Scouts, athletics, military, work at a real job, exective or management experience.

____________________________________________

That is probably that.

Fri, 04/13/2012 - 12:50 | 2342065 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous said:

That is probably that.

The absence of answers is somehow very something.

 

Fri, 04/13/2012 - 11:48 | 2341832 chet
chet's picture

Actually, when talking about the rich paying more he almost always explicitly includes himself.

Fri, 04/13/2012 - 12:02 | 2341883 mayhem_korner
mayhem_korner's picture

 

 

...and that makes it noble?  I mean, what's the guy actually done to EARN his keep, anyway?

Fri, 04/13/2012 - 12:57 | 2342084 chet
chet's picture

Mostly he's written a couple of books which are available on the free and open market and free market participants choose to go buy them, and he gets royalties.  Let me guess, that's "socialist" somehow?

Fri, 04/13/2012 - 13:31 | 2342203 mayhem_korner
mayhem_korner's picture

 

 

I see...you think HE wrote those books. 

Fri, 04/13/2012 - 13:37 | 2342229 Bob Sacamano
Bob Sacamano's picture

Then why doesn't he pay more??  It is absurd to believe something so deeply, but not do it.  Alternatively, he really does not believe it -- just another wedge issue to help him with the masses' votes in November.  Either way the guy is slimy.

Fri, 04/13/2012 - 12:02 | 2341876 ArrestBobRubin
ArrestBobRubin's picture

I just wish Romney didn't have "Kosher Approved" stamped on his butt. He's a Morman nutball who will happily do any fool thing Benny Nets and Rothshildistan orders him to do. Look into Bain Capital: it is a Mossad beard. Hard to believe! Not.

Rots Monkey Mitt has dutifully said he thinks Russia is "Public enemy Number 1". Might that be b/c Putin has locked up Khodorkovsky and driven the rest of the Jewish Mafia kingpins and Financial Terrorists like Abramovich, Guisinki, and Berezovsky into exile in London (and Tel Aviv in the aforementioned RotsLand)?

Vladimir Putin locked up or drove out Russia's Money Garbage. America? Our "leaders" just allow them to completely run the joint.

You're soon going to learn that there are some very weird and murky ties between Mormonism and Judaism that do not bode well for peace or for anything like Constitutional rule in America. Remember the "passionate attachments" George Washington warned of? This "Israel" baggage and the complete ownership of Capitol Hill and POTUS by the global financial oligarchy is the Sword of Damocles dangling over very the heart of America.

Obama or Romney, cyanide or arsenic: what's your pleasure?

Why do you think they shut out Ron Paul?

 

Fri, 04/13/2012 - 12:00 | 2341877 bob_dabolina
bob_dabolina's picture

I know that the volume of verbal feces is disseminated from his oral cavity more so than any other human I have listened to.

Fri, 04/13/2012 - 14:04 | 2341890 ThisIsBob
ThisIsBob's picture

This is such a bogus issue.  Those who pay lower rate do so because they have availed themselves of provisions in the tax code, as any prudent person would.

Indeed, if one's accountant missed or ignored them they would probably get sued for malpractice.

Instead of cheap and ignorant shots at the people who are saving money as encouraged by the tax code our dear leader might could reform the code and leave those people who follow it the fuck alone.

Oh, no. Not a chance. 

The six-fingered-look-alike voting bloc must be pandered to.

 

 

Fri, 04/13/2012 - 12:05 | 2341901 rogerthat
rogerthat's picture

Drudge linked

Fri, 04/13/2012 - 12:06 | 2341906 Veltar
Veltar's picture

Hasn't he made a point in all his speeches that he is a beneficiary of carried interest.   Good lord, this site is becoming an affiliate of the right.  focus on the issues, not this garbage

Fri, 04/13/2012 - 12:22 | 2341976 johnnymustardseed
johnnymustardseed's picture

And then the rest of the facts come out...

The President and First Lady also reported donating $172,130 – or about 22% of their adjusted gross income – to 39 different charities. The largest reported gift to charity was a $117,130 contribution to the Fisher House Foundation. The President is donating the after-tax proceeds from his children’s book to Fisher House, a scholarship fund for children of fallen and disabled soldiers

Fri, 04/13/2012 - 12:50 | 2342063 LMAOLORI
LMAOLORI's picture

The answer is NO

 

 

The most recent information about salary regarding Obama’s secretary is for his former secretary, Katie Johnson, who is listed by the White House as having made $90,000 in 2010.

According to Wikipedia, Johnson is 31 years old and now attends Harvard Law School. I don’t know about her personal life or what her deductions would be, so I can’t assume any children or deductions.

On a $90,000 salary, she would pay $16,578 in federal taxes, $3,780 to Social Security, and $1,305 in Medicare taxes.

That adds up to a total federal tax burden of $21,663 on $90,000 in adjusted gross income, or a tax rate of 24 percent, well above Obama’s rate of 20.5 percent, even though Obama’s 2011 salary was nearly nine times the 2010 salary of his secretary.

http://www.whitehousedossier.com/2012/04/13/obama-pay-secretary/

 

Fri, 04/13/2012 - 13:36 | 2342222 goodrich4bk
goodrich4bk's picture

And your point is?

Romney pays less than his secretary and wants to keep it that way.

Obama pays less than his secretary and thinks that's wrong.

To me, these two men are largely tweedle dee and tweedle dum, just as the Oligarchs intend.  But on this one issue, I find little to fault with Obama.

Fri, 04/13/2012 - 13:52 | 2342283 therearetoomany...
therearetoomanyidiots's picture

Applesauce

Fri, 04/13/2012 - 13:12 | 2342122 W10321303
W10321303's picture

Do blood sucking vampire zombie Republicrats hide their money off-shore so they don't have to pay any taxes? It's the child abuser Dumocrats vs the Serial Killer Clown From Outer Space GOP crypto-facists...."same as it ever was, the TWISTER comes, here comes the TWISTER"....

Fri, 04/13/2012 - 13:14 | 2342130 Watts_D_Matter
Watts_D_Matter's picture

Does the 162K in paid taxes include his tax filing in Kenya as well?

Fri, 04/13/2012 - 13:29 | 2342192 The Continental
The Continental's picture

There is an answer to this fuckingly vexing tax problem:  eliminate the tax on income and replace it with a wealth tax. Each citizen should be taxed in proportion to the benefit he derives from living and holding private assets in a safe secure system. That benefit is directly proportional to his capital holdings. The total net capital of the US is approximately $60 trillions. A 4% wealth tax should generate about $2.4 trillions in revenue. So we still have a problem with government overspending and deficits. The biggest taxpayers, the holders of most capital, have a strong incentive to coerce government into controlling spending, because they are paying the taxes. And the working people and small businesses have strong incentive to work hard and produce, as they are not being taxed on their income.

 

The billionaires and Oligarchs are terrified if a wealth tax. But it is the most equitable tax of all. Think about it.

Fri, 04/13/2012 - 14:08 | 2342342 GeezerGeek
GeezerGeek's picture

I thought about it and the idea sucks. Why should there be a tax on retained income (in other words retained wealth) but not on spent income? [Ignore the state and local sales taxes for that last part.] And just what would you include in the wealth calculation? My retirement accounts? Savings accounts? What about the PMs I accidentally lost that now reside at the bottom of the ocean? What about the Bugatti Veyron (I wish I had) in my garage?

I'd be willing to see the U.S. switch from an income tax to a Constitutionally limited VAT or something similar, but it would need to account for those of us who spent a lifetime paying income taxes but no longer have earned income.

Fri, 04/13/2012 - 16:05 | 2342646 Totin
Totin's picture

There's no reason that wealthy people should pay one red percent more than anyone else. It drives me up the wall when people suggest that. Most wealthy people worked hard for what they have. They're generally smart, innovative and generous. People like you want to penalize them simply because you think it impacts them less but they earned their money same as you. We need to get past this notion that the Government needs more money - that's insane - they need to stop spending so much. Reduce or eliminate all of these programs and agencies that suck up so much money. 

Fri, 04/13/2012 - 23:25 | 2343211 MeelionDollerBogus
MeelionDollerBogus's picture

Here's an even better idea. Induce the wealthy to pick who it is that makes very little that they would give their tax dollars to, not the government.

Make it mandatory to do that to be a major shareholder / owner in any big business.

That way smaller business would be exempt from it, anyone else would be exempt from it & don't send it to the government AT ALL.

I'm all for a functional government that can transfer tax-dollars into road-repair, utitilities, etc. You let me know when you find that government instead of the corrupt ones in place that siphon off riches to feed bribes, bid-rigging & other crimes and maybe we'll talk about letting the government have tax dollars again.

Fri, 04/13/2012 - 14:50 | 2342451 Stuck on Zero
Stuck on Zero's picture

 

Slush fund of top politicians found at Vatican Bank, Obama, Clinton, Roberts? Legatus split!

 

Here's why Obama doesn't pay a lot of taxes: http://www.dailypaul.com/154751/slush-fund-of-top-politicians-found-at-v...

 

Fri, 04/13/2012 - 15:14 | 2342511 Dan Conway
Dan Conway's picture

I thought the measurement was whether Obozo/Romney/Buffet pay a higher percentage than Buffet's secretary.  When is Buffet's secretary going to release her tax return?

Sat, 04/14/2012 - 22:28 | 2346001 ItsDanger
ItsDanger's picture

The pt they always miss is that the secretary's 'rate' is actually much higher in comparison to Buffett or Obama when you include EVERY tax they pay.  This whole line of argument is pointless anyways.  Most of the media are clueless on tax issues.

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