RANsquawk Weekly Wrap -- 13/04/12

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Fri, 04/13/2012 - 14:41 | 2342431 ArrestBobRubin
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Yes We Can! So we do... Obama Fails to Apply the Buffett Rule to Himself

by Keith Koffler on April 13, 2012, 11:34 am

President Obama chose not to subject himself to his own proposed Buffett Rule, paying only a 20.5 percent federal tax rate instead of the 30 percent rate called for under the proposal he has been talking about all week.

The Buffett rule would apply to those making $1 million, and Obama did not quite make $1 million last year – he clocked in at $789,674. But he made enough to be considered comparably rich to those making a million, and still paid a rate ten points below the threshold he is proposing.

What’s more, he paid a lower rate than Vice President Biden, who made less than half what Obama did. Biden paid a 23.2 percent rate on $379,035 in income.

Some of the difference is due to deductions for charitable contributions – the Obamas contributed substantially more last year than the Bidens.

Fri, 04/13/2012 - 15:03 | 2342488 Chief KnocAHoma
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We have a 2-1 lead!


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