His job isn't guaranteed
look at how much clinton makesYes it is. The President of The United States is hooked up for life, even after he's out of office.
Well, at least we cleared up that you don't know how a progressive income tax works. The only part of President Obama's income that is subject to the 35% is anything above $350,000. Everything else is subject to the corresponding tax brackets. For example, excluding deductions, he would pay the same amount on his first $50,000 as someone who only made $50,000.
I am glad to see that all it would took for you to do your duty is for a Democrat to be in the White House. Keep up the good work!
Are you going to complain about all the millionaires abusing tax loopholes or just assume Obama does it, and only complain about him?
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Why didn't he voluntarily pay the top percentage rate?
Another big question I have, is how did his income drop 4 million bucks, in a year? I'm betting that someone is hiding some serious jack...through tax loopholes.
......
Damn it must be nice. Fyck up the country royally and get paid for it.
I am not defending President Obama and the First Lady, but then this response has nothing to do with the message you are responding to. All I am doing is merely correcting your mistaken idea about how a progressive tax is levied so that in future debates about tax policy you will actually know what you are talking about.Including deductions, he paid taxes on more than a million bucks. He's a millionaire. Why are you defending a millionaire that doesn't produce a single job?
President's Bush's tax policy has nothing to do with what we are discussing. Again you have trouble responding to what was written. Why is that?Did GW raise taxes? No? Didn't think so. Keep trying.
Including deductions, he paid taxes on more than a million bucks. He's a millionaire. Why are you defending a millionaire that doesn't produce a single job?LOL! Who told you he didn't produce any jobs? And are you supporting Socialist programs to provide employment and make the government bigger yet? Are cons to lazy to go out and get a job on their own? Sounds like you would complain if you were hung with a new rope.
Did GW raise taxes? No? Didn't think so. Keep trying.
I think the point that apdst seems to feel is being missed is that somebody who thinks "the rich" aren't paying "enough taxes" shouldn't be taking deductions or credits.
I think the point that apdst is missing is that the obvious solution, from Obama's perspective, is to adjust the tax code so that "the rich" are paying "enough taxes." One guy volunteering to pay more than the law requires isn't going to fix the overall systemic problem -- or at least not one guy with a seven-figure income, since we're talking about a government with a 13-figure budget and a 14-figure debt.
I'd love to get a look at the tax returns of the people in this thread who are lambasting Obama for 'taking advantage of loopholes' in the tax code, just so I could see to what degree they're doing the exact same thing.
First off.. at least Obama pays taxes.. Could name a few companies that dont.
Secondly.. how on earth can it be Obama's fault that he pays the taxes the system put in place by the Congress says he has to pay?
And finally when the GOP leadership and members in congress cut their staff by 50% and their own wages by 50% and dump the federal healthcare plan they get, then maybe, just maybe we can talk about Obama being a hypocrite... right now, the biggest hypocrites in US politics is clearly the GOP. When will the GOP show some patriotism and cut costs and wages for themselves?
And when are we going to see the tax documents for the GOP front runners? How about Huckabee showing the documents from his time as governor? oh yea forgot, he had them destroyed. Talk about hypocrites.
Good grief! Another arguing about the inequities of our tax system without a clue how it actually works. His marginal rate was 35%; his effective rate 26%. No one has a 35% effective rate on their US Federal income taxes. It is impossible.
Deductions, exemptions and credits are not loopholes (though they are tax expenditures). This items are build into the tax code for specific reasons. Loopholes are using nuances in the tax codes in ways they were not intended to benefit your tax posture.
Please learn the concepts of marginal and effective rates as well as the terms deductions, credits and exemptions then return to the ring.
I think the point that apdst seems to feel is being missed is that somebody who thinks "the rich" aren't paying "enough taxes" shouldn't be taking deductions or credits.
I think the point that apdst is missing is that the obvious solution, from Obama's perspective, is to adjust the tax code so that "the rich" are paying "enough taxes." One guy volunteering to pay more than the law requires isn't going to fix the overall systemic problem -- or at least not one guy with a seven-figure income, since we're talking about a government with a 13-figure budget and a 14-figure debt.
I am not defending President Obama and the First Lady, but then this response has nothing to do with the message you are responding to. All I am doing is merely correcting your mistaken idea about how a progressive tax is levied so that in future debates about tax policy you will actually know what you are talking about.
President's Bush's tax policy has nothing to do with what we are discussing. Again you have trouble responding to what was written. Why is that?
You said it was your duty to question the President. All I said is that all it took to perform your duty as American citizen was for a Democrat to be in office. The best I can say for you is better than late than never.
I still don't see what the big deal is that President Obama's average tax rate does not match his marginal tax rate. The same thing can be said for most likely every American that filed a tax return this year. Haters gonna hate, I guess.
For all taxes, or just federal income taxes?I also know that my effective rate is 35% and I didn't make no million dollars.
For all taxes, or just federal income taxes?
For all taxes, or just federal income taxes?
Cause afaict, for federal income taxes, the largest percentage for any bracket is 35%. So unless you only made money that was over the cutoff and no money less than the cut off [ don't ask me I have no idea how that would be possible to make money over x amount without first earning money in the amounts from 0-x ] then the effective tax rate would necessarily be less than 35%.
I guess if enough of you money was over the cutoff point, it could be close enough to 35% that it would round up to 35%. But I am pretty sure that would involve you making more than a $mil.