• Sprott Money
    05/05/2016 - 06:02
    Why is a Deutsche Bank mouthpiece suggesting “negative retail deposit rates or perhaps wealth taxes”? The answer is to (supposedly) stimulate our economies.

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?

0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 04/13/2012 - 12:39 | 2342026 Harbanger
Harbanger's picture

Did you say non-church giving is DRASTICALLY slanted towards liberals?

Now I understand your previous comment -"i voted for him in 2008.  never again.  i had high hopes he would actually be reformer and anticorruption fighter.  stupid me."

stupid is as stupid does.

Fri, 04/13/2012 - 12:10 | 2341927 AnAnonymous
AnAnonymous's picture

US citizenism has turned charity in a business.

It is all about resumes, job opportunities, funnelling aid to yourself as the major recipient etc

US citizens even conceal their wars under charitable aims.

US citizens help themselves before (if ever) helping others through their US citizen charity stuff.

The conservative gang run the business. The liberal gang do not want to give because they know they'd help their rival gang.

Without taking into account what how charity is manipulated in a US citizen environment, you draw wrong conclusions about how charitable US citizens are.

Fri, 04/13/2012 - 12:25 | 2341985 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous said:

US citizenism has turned charity in a business.

Chinese citizenism madness out the transfer of assets in addition to the corrupt officials, in recent years made their fortunes in the size of the rich and a large part of the property firmly Dangdang arrived to a foreign land.

US citizens even conceal their wars under charitable aims.

Of course, the Chinese citizenism upper struggle for power will be in this last scene was very impressive and ugly bestiality on its head.

 

Fri, 04/13/2012 - 13:22 | 2342160 GeezerGeek
GeezerGeek's picture

The comment about "conservatives are liberals who have been mugged by reality" brought to mind something said by the late Phil Ochs (singer/songwriter) when he described a liberal as "someone who is 10% to the left of center in good times, 10% to thr right of center when it affects them personally." He was an anti-war (Vietnam) left winger who despised the way LBJ used us as cops of the world back in the 1960s (Dominican Republic, for instance) and couldn't abide by the hypocrisy of the prominent liberals of the day. Some things just don't seem to change.

Fri, 04/13/2012 - 16:09 | 2342661 TheFourthStooge-ing
TheFourthStooge-ing's picture

"Smoking marijuana is more fun than drinking beer,
But a friend of ours was captured and they gave him thirty years
Maybe we should raise our voices, ask somebody why
But demonstrations are a drag, besides we're much too high
And I'm sure it wouldn't interest anybody
Outside of a small circle of friends"

Phil Ochs

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

 

Fri, 04/13/2012 - 11:01 | 2341646 PaperBear
PaperBear's picture

Whoa, President Obama's salary is nearly 800,000 dollars ? HOLY S**T !?

Fri, 04/13/2012 - 11:15 | 2341712 mayhem_korner
mayhem_korner's picture

 

 

Book royalties likely a big piece o dat.  Remember that "classic," The Audacity of Hope?

Fri, 04/13/2012 - 11:17 | 2341723 Joe Davola
Joe Davola's picture

400,000 "royalties" aka payola

Fri, 04/13/2012 - 12:05 | 2341904 Paul Atreides
Paul Atreides's picture

That's nothing compared to what the Fed drops yearly into his Vatican account...

Fri, 04/13/2012 - 11:50 | 2341844 pods
pods's picture

If he had the audacity to hope I would read that book he was sorely mistaken.

Fri, 04/13/2012 - 13:19 | 2342148 Count de Money
Count de Money's picture

You think he'll give Bill Ayers his cut?

Fri, 04/13/2012 - 11:17 | 2341724 SheepDog-One
SheepDog-One's picture

$800,000 + all expenses and lavish vacations and parties even 'rich people' could only dream of all covered by the gulliable tax slave.

Fri, 04/13/2012 - 11:01 | 2341651 Donnie Duvanie
Donnie Duvanie's picture

Michelle: "Darling, when you're living the high life, $162,000 seems like nothing!"

Fri, 04/13/2012 - 12:09 | 2341917 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Michelle: "Darling, when you're living the high life, $162,000 seems like nothing!"

Mere pocket change. A single $100-per-plate dinner would easily cover that.

 

Sat, 04/14/2012 - 01:40 | 2343335 Donnie Duvanie
Donnie Duvanie's picture

I could also see them having a $100 per bowl chili feed.

Fri, 04/13/2012 - 11:02 | 2341653 tony bonn
tony bonn's picture

obama paid the indonesian rate which i am sure is lower than his secretary's or any of the other minions working for the indonesian citizen (of the world)

www.obamacrimes.com

 

Fri, 04/13/2012 - 12:44 | 2342040 DosZap
DosZap's picture

This topic is crazy, 20% of 800k, would be 160k in taxes,hell no way his Secretary makes that, if so, she makes more in salary than he does...........or close to it.

Fri, 04/13/2012 - 11:05 | 2341659 Shizzmoney
Shizzmoney's picture

The fucked thing is, even if this tax were to go through...it would only generate $46b/year.  We run a $1 trillion year decifit, and that's w.o HeritageCare.  Imagine once the insurers get control of the country's health system......

If Obama wants to get serious about taxes, he needs to start taxing corporations, especially ones who use tax havens to game the system.  But he won't, neither will any other politican, because they are paid by Goldman Sachs, GE, AAPL, etc......to ignore this fact and NOT do this. 

Lew Rockwell (who I don't 100% agree with, but has sound libertarian ideals) really points out that this individual tax is really about keeping potential young entreprenuers down.  You see, the young generation like mine.......we are much more willing to work together for the common good and not just for the almighty dollar.  We understand that "to give action is to get action", not "let's just buy and game the system for monopolization via financialization".  Those in charge now, fear this.  They fear that we might change the system to make it work better for people, to give liberty and a stress free life to the working class, and to not continue to path to fascism we see today.

http://www.youtube.com/watch?v=VCp0PCywi5s

In the end, both Obama and Romney, want to raise taxes and insurance premiums.  But not on the 1%.....but on the rest of us......because either way, the United States needs that revenue. 

And since they don't work for the people........but for corporate interests......you can guess who they are going to go after the most.

Fri, 04/13/2012 - 11:19 | 2341730 SheepDog-One
SheepDog-One's picture

Same thing as the 'budget cut debate' a year ago when the debt ceiling needed to be raised again, what did they finally arrive at, some measely $50 million in 'cuts'? Theyre all just cheezy kids party magicians.

Fri, 04/13/2012 - 12:23 | 2341981 AnAnonymous
AnAnonymous's picture

You see, the young generation like mine.......we are much more willing to work together for the common good and not just for the almighty dollar. We understand that "to give action is to get action", not "let's just buy and game the system for monopolization via financialization". Those in charge now, fear this. They fear that we might change the system to make it work better for people, to give liberty and a stress free life to the working class, and to not continue to path to fascism we see today.

_____________________________________________________

Absolutely. US citizens in power are in fear. They fear everyone, everything. They fear the US citizen middle class, they fear the US citizen youth.

That is the propaganda.
Or the fantasy.

The reality is that your little tune started with US citizen Jefferson.

And during the 200+ years US citizenism has been lasting, US citizen youth has been proven to be the most conformist youth that has ever be.

Producing a conformist youth is another remarkable achievement of US citizenism.

But hey, you know, US citizen bands made money of that tune.

See:

Genesis, land of confusion

I won't be coming home tonight
My generation will put it right
We're not just making promises
That we know, we'll never keep

Probably bands will do the same.

The famous generational gap as thought by US citizens.

Under the sun, still, everyone else knows that US citizen nature is eternal and that US citizen youth will behave like their elders.

Such is the US citizen nature.

Fri, 04/13/2012 - 12:44 | 2342043 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous said:

Producing a conformist youth is another remarkable achievement of US citizenism.

But hey, you know, US citizen bands made money of that tune.

See:

Genesis, land of confusion

I won't be coming home tonight
My generation will put it right
We're not just making promises
That we know, we'll never keep

ROR! Made me laughing out loud almost to pissing on pants one is wearing.

But hey, bear with it Chinese citizenism bands making now of money from that same tune, even more with copyright royalties ignoration and non paymentism.

See:

Panda Funk Railroad, land of confucius

We're a Chinese citizenism band
We're a Chinese citizenism band
We stop and take a shit
On the roadside to Tibet
We're a Chinese citizenism band

Probably bands will do the same.

Chinese citizenism algebraic coconutism will make that endeavor an assured thing.

The famous generational gap as thought by US citizens.

The famous locomotional crap as thought by Chinese citizenism citizens.

 

Fri, 04/13/2012 - 14:42 | 2342436 therearetoomany...
therearetoomanyidiots's picture

Classic!

Sun, 04/15/2012 - 19:35 | 2347391 akak
akak's picture

It is being the crap in the pants that I am almost making here with laughter, as if pants of mine were being a chinese roadside being having the squatting upon by Chinese citizenism citizens!

Fri, 04/13/2012 - 14:32 | 2342414 therearetoomany...
therearetoomanyidiots's picture

You are so right.  The facts in the case are that this 46 billion a year would barely pay 1 MONTH'S interest on our debt.   You are so very correct here!

Fri, 04/13/2012 - 11:05 | 2341665 fershtunken
fershtunken's picture

Seeing as how his proposed tax increase would raise his own taxes, it's hardly a "glass-house" scenario. 

The accusation is cynical and illogical. Let Romney propose a raise of his own taxes and then we can talk.

Fri, 04/13/2012 - 14:30 | 2342408 therearetoomany...
therearetoomanyidiots's picture

Well, Romney has been a proponent of lower taxes.   

This is glass house because obama is saying the rich need to pay more.  If he wants to pay more, he can.

If he thinks it's such a great idea, log on and do it.   http://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm

The fact of the matter is that he is like any commie or socialist elite...the rules apply to you, not him. 

 

Fri, 04/13/2012 - 11:07 | 2341668 Monedas
Monedas's picture

The cheaper canned hams contain up to 30% Pink Pork Slime between the chunks as an "appearance enhancer" and to prevent settling in shipping !  That's higher than BO Juice's tax rate !  Monedas  2012   Is that Pink Pork Slime Skidmarks in your panties....or do you have Clamydia ?

Fri, 04/13/2012 - 11:07 | 2341669 koot
koot's picture

Good Question?  More importantly however is what is the ratio between how much Obama contributes to the US and how much he costs the US.   Perhaps $789,674/$7,000,000,000,000

Fri, 04/13/2012 - 14:25 | 2342391 therearetoomany...
therearetoomanyidiots's picture

To be more accurate (nit picky) wouldn't it be $162,074/$7,000,000,000,000.

You gave him about 4 times too much credit...  :0

Fri, 04/13/2012 - 11:08 | 2341675 Dr. Engali
Dr. Engali's picture

I'm sure we will see this reported all over the MSM. CnBS will certainly running with it all day.

Fri, 04/13/2012 - 13:56 | 2342311 Harbanger
Harbanger's picture

Unedited.

Fri, 04/13/2012 - 11:10 | 2341686 jayman21
jayman21's picture

How on earth did he pay only 20%?....I wish I only paid 20%  I make a lot less than 700k.

Fri, 04/13/2012 - 11:13 | 2341696 Dr. Engali
Dr. Engali's picture

He wrote off all those vacations and golf outings as business expenses.

Fri, 04/13/2012 - 11:41 | 2341804 justanothernerd
justanothernerd's picture

If you read the return, there's an itemized list of donations to 501(c)3 organizations that he wrote off. He donated about 20% of his income. 

Fri, 04/13/2012 - 11:47 | 2341828 jayman21
jayman21's picture

I did not read it.  The other 20% makes sense.  Thanks for clearing that up.

Fri, 04/13/2012 - 13:32 | 2342205 GeezerGeek
GeezerGeek's picture

For political purposes, itemized deductions do not count, at least not the ones made by Republicans. Adjusted gross income does not include deductions. I don't know if Buffet was referring to his AGI when comparing his tax rate to his secretary's. Personally I think the maximum tax rate should be 10%, and at that level I wouldn't care if it applied to AGI or the line called "taxable income".

Fri, 04/13/2012 - 11:34 | 2341781 schatzi
schatzi's picture

Going by your picture, you're in Hamburg and pay German taxes. Don't even try to compare tax rates, it's like night and day.

Fri, 04/13/2012 - 11:46 | 2341822 jayman21
jayman21's picture

I wish I was in Hamburg.  I might get something for all the taxes that are paid.  I live and pay NYC taxes. 

Nice name+1

Fri, 04/13/2012 - 11:10 | 2341688 Silverhog
Silverhog's picture

Really, is this a surprise to anyone? Bet his donations to charities was well below average for american taxpayes as well. 

Fri, 04/13/2012 - 11:21 | 2341695 Biggvs
Biggvs's picture

Does Obama Pay Less Taxes Than His Secretary?

No. I doubt his secretary even grosses $162,074. But does he pay a lower rate? Looks likely. 

 

Fri, 04/13/2012 - 11:44 | 2341815 justanothernerd
justanothernerd's picture

If you look through his return, he donated about 20% of his income to 501(c)3 organizations, hence the lowered tax rate. 

Fri, 04/13/2012 - 11:13 | 2341702 gckings19
gckings19's picture

also...it was his adjusted gross income so he took deductions....er i mean used loop holes to reduce his income.  that is un-american....doesnt he know its his civic duty to pay as much as possible.  what a clown....this crap has got to stop.

Fri, 04/13/2012 - 11:15 | 2341713 drchris
drchris's picture

When the muni bond market believes the Buffet Rule will happen and implodes, then I will pay attention.  It seems they got the memo that this is just Obama playing politics with morons.  

Fri, 04/13/2012 - 11:19 | 2341728 ArrestBobRubin
ArrestBobRubin's picture

YOU NEED TO PAY YOUR FAIR SHARE

I said you, not me of course. YES WE CAN, cracka!

Hey Meesh, when do we leave on our next vacation anyway?

Fri, 04/13/2012 - 11:19 | 2341731 wonderatitall
wonderatitall's picture

I DONT CARE . I WANT TO TAX THIS HATE MONGERING WOMAN HATING RACIST 90% , BECAUSE IF HIGHER TAXES LEAD TO "PROSPERITY " FOR THE RULING CLASS THEN LET THIS BUFFOON AND BUFFET TABLE PAY A AND PAY AND PAY...

 

Fri, 04/13/2012 - 11:22 | 2341740 The worst trader
The worst trader's picture

Only WE  have to pay our FAIR SHARE.

Fri, 04/13/2012 - 11:38 | 2341793 Agent P
Agent P's picture

I think you meant to say "Only 50% of US have to pay our FAIR SHARE."

Fri, 04/13/2012 - 11:25 | 2341748 The Proletariat
The Proletariat's picture

Surprising.....he isn't even a citizen and paid that much in taxes

Fri, 04/13/2012 - 11:26 | 2341756 t0mmyBerg
t0mmyBerg's picture

I am sorry but I have to say that in my opinion, Obama is just a lying scumbag.  The nation would be better off if a cabbage or a turd were elected, anyone or anything but El Presidente.

"You like your plan?  You can keep your plan." x 1,000,000.  Oh wait.  Everyone will lose their plan.

Fri, 04/13/2012 - 14:05 | 2342333 therearetoomany...
therearetoomanyidiots's picture

How the FUCK can you down arrow this.

Well, I understand the whole lunatic fringe conspiracy minded folks that it doesn't matter.

To me,T0mmy...you are right on.   This bastard will ascend to president for life if given the right opportunity.

In fact he may be planning such an event.

We'll see how he handles the coming race war he's starting. 

Anyone hear about the reverse roles killing of a hispanic by a black man in Arizona?  Where are the bounties, the media crying for an arrest, etc...where's holder? 

http://sfcmac.wordpress.com/2012/04/12/paging-obama-holder-and-sharpton-...

This bastard and all associated with him needs/need to be removed from office.  

Do NOT follow this link or you will be banned from the site!