The Buffett rule,,,,,,,,,,,,

[Tigermike 3,425]

When you point a finger there are three fingers pointing back at you.

Did Obama Pay a Lower Rate Than His Secretary?

by Keith Koffler on April 13, 2012, 12:00 pm

President Obama paid a total federal tax rate of 20.5 percent on a gross adjusted income $789,674, a rate that may come in below that of his secretary.

Obama has spent the past week touting the Buffett Rule, which calls on those who make $1 million – just a little more than Obama made – to pay at federal tax rate of at least 30 percent. The rule was inspired by Buffett’s comment that he paid a lower tax rate than his secretary.

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.

link

Huuuuuuummmmmmmmmm,,,,,,,

Will this stop Obama's campaign strategy?

[RunInRed 16,992]

No, like Buffett, he's in favor of paying more tax.

The President’s effective federal income tax rate is 20.5%. The President believes we must reform our tax system which is why he has proposed policies like the Buffett Rule that would ask the wealthiest Americans to pay their fair share while protecting families making under $250,000 from seeing their taxes go up. Under the President’s own tax proposals, including the expiration of the high-income tax cuts and limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it.

http://www.whitehouse.gov/blog/2012/04/13/president-obama-and-vice-president-biden-s-2011-tax-returns

Oh, and as an aside, he also donated 22% of his income to charity.

[Tigermike 3,425]

No, like Buffett, he's in favor of paying more tax.

The President’s effective federal income tax rate is 20.5%. The President believes we must reform our tax system which is why he has proposed policies like the Buffett Rule that would ask the wealthiest Americans to pay their fair share while protecting families making under $250,000 from seeing their taxes go up. Under the President’s own tax proposals, including the expiration of the high-income tax cuts and limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it.

http://www.whitehouse.gov/blog/2012/04/13/president-obama-and-vice-president-biden-s-2011-tax-returns

Oh, and as an aside, he also donated 22% of his income to charity.

And according to the article posted:

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.

Obama’s rate of 20.5 percent

His secretaries tax rate 24 percent

I guess in democrat speak 20.5% is higher than 24%

Oh, and as an aside, he also donated 22% of his income to charity.

Nice use of a red herring. But it has nothing to do with the facts (as presented) since his effective rate of 20.5% would have that factored in.

[80Tiger 906]

No, like Buffett, he's in favor of paying more tax.

The President’s effective federal income tax rate is 20.5%. The President believes we must reform our tax system which is why he has proposed policies like the Buffett Rule that would ask the wealthiest Americans to pay their fair share while protecting families making under $250,000 from seeing their taxes go up. Under the President’s own tax proposals, including the expiration of the high-income tax cuts and limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it.

http://www.whitehouse.gov/blog/2012/04/13/president-obama-and-vice-president-biden-s-2011-tax-returns

Oh, and as an aside, he also donated 22% of his income to charity.

Why didn't he pay more taxes then. There is a method for that and since we can now count charity as a comparison, what did Buffet donate? I would imagine the percentage and dollars would be staggering.

[autigeremt 6,970]

No, like Buffett, he's in favor of paying more tax.

The President’s effective federal income tax rate is 20.5%. The President believes we must reform our tax system which is why he has proposed policies like the Buffett Rule that would ask the wealthiest Americans to pay their fair share while protecting families making under $250,000 from seeing their taxes go up. Under the President’s own tax proposals, including the expiration of the high-income tax cuts and limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it.

http://www.whitehous...011-tax-returns

Oh, and as an aside, he also donated 22% of his income to charity.

Democrats don't count charity! IT MUST GO TO BIG G AND NO ONE ELSE!

[RunInRed 16,992]

TM ... did you read what I posted? Obama thinks it's wrong he paid a lower effective tax rate than his secretary which is why he's championing things like the Buffett Rule. Geesh.

EMT ... You'd be surprised how many Democrats give to charity ... careful with the broad brush

[Auburn85 434]

TM ... did you read what I posted? Obama thinks it's wrong he paid a lower effective tax rate than his secretary which is why he's championing things like the Buffett Rule. Geesh.

EMT ... You'd be surprised how many Democrats give to charity ... careful with the broad brush

RiR, is it mandatory that Pres. Obama use deductions?

If it's not mandatory, why does he use the deductions?

[Auburn85 434]

TM ... did you read what I posted? Obama thinks it's wrong he paid a lower effective tax rate than his secretary which is why he's championing things like the Buffett Rule. Geesh.

EMT ... You'd be surprised how many Democrats give to charity ... careful with the broad brush

So says the one who tries to paint the broad brush of "brother's and sister's keeper" vs. "what's in it for me" when discussing tax rates.

I guess some of us should take it as a compliment that you hold a higher standard to people who make far less money that Pres. Obama.

[Tigermike 3,425]

TM ... did you read what I posted? Obama thinks it's wrong he paid a lower effective tax rate than his secretary which is why he's championing things like the Buffett Rule. Geesh.

But he did it any way. If it's wrong why didn't he choose to not claim deductions? If he thinks it's wrong why didn't he CHOOSE to pay at 40%? He vilifies many for doing what is legal yet he does the same.

Don't give me this BS about his heart is pure.