Page 1 of 27 12311 ... LastLast
Results 1 to 10 of 267

Thread: Obama only paid a 26% income tax rate for 2010

  1. #1
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Yesterday @ 11:46 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,219

    Obama only paid a 26% income tax rate for 2010

    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.

    Mr. Obama and his wife, Michelle, on Monday reported an adjusted gross income of $1,728,096 for 2010, down from $5.5 million in 2009. Most of their income came from sales of his books “Dreams From My Father” and “The Audacity of Hope.” The Obamas paid $453,770 in federal taxes, for an effective tax rate of just over 26 percent; the top individual tax rate is 35 percent.

    Obama Tax Return Shows Income Down, Mostly from Book Sales - NYTimes.com

  2. #2
    Banned
    Join Date
    Oct 2009
    Last Seen
    08-14-12 @ 11:44 PM
    Gender
    Lean
    Libertarian
    Posts
    3,928

    Re: Obama only paid a 26% income tax rate for 2010

    I was going to say maybe he lost his job, but he's the only one in the country with a guaranteed job for 4 years.

    Damn it must be nice. Fyck up the country royally and get paid for it.

  3. #3
    Banned
    Join Date
    Jul 2009
    Location
    Ft. Campbell, KY
    Last Seen
    12-31-14 @ 08:37 PM
    Gender
    Lean
    Independent
    Posts
    12,177

    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by apdst View Post
    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.
    You ask the question, and then add an article which has the exact answer to your question???

  4. #4
    Banned
    Join Date
    Jan 2011
    Last Seen
    07-25-13 @ 08:55 AM
    Lean
    Undisclosed
    Posts
    1,951

    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by apdst View Post
    Why didn't he voluntarily pay the top percentage rate?
    You think the Leader of the Free World would lead by example............

    .....and yet he took advantage of every tax loophole he claims to despise.........


    Do as I say--Not as I do...........
    .
    .
    .

  5. #5
    Dungeon Master
    Veni, vidi, dormivi!

    spud_meister's Avatar
    Join Date
    Nov 2009
    Location
    Didjabringabeeralong
    Last Seen
    @
    Gender
    Lean
    Very Conservative
    Posts
    33,868
    Blog Entries
    8

    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by Badmutha View Post
    You think the Leader of the Free World would lead by example............

    .....and yet he took advantage of every tax loophole he claims to despise.........


    Do as I say--Not as I do...........
    .
    .
    .
    Care to prove that statement?
    So follow me into the desert
    As desperate as you are
    Where the moon is glued to a picture of heaven
    And all the little pigs have God

  6. #6
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Yesterday @ 11:46 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,219

    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by Wiseone View Post
    You ask the question, and then add an article which has the exact answer to your question???
    I know what the article said. My question is: what's the truth. A 4 million dollar drop sounds like alot.

  7. #7
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Yesterday @ 11:46 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,219

    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by Bruce View Post
    Care to prove that statement?
    No problem. It's a fact that Obama only paid 26%. There's your proof.

  8. #8
    Ideologically Impure
    Simon W. Moon's Avatar
    Join Date
    Apr 2005
    Location
    Fayettenam
    Last Seen
    12-08-17 @ 02:05 PM
    Gender
    Lean
    Conservative
    Posts
    16,891
    Blog Entries
    5

    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by apdst View Post
    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.
    I think that the 35% figure may be the marginal rate.
    I may be wrong.

  9. #9
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Today @ 12:08 AM
    Gender
    Lean
    Independent
    Posts
    36,124

    Re: Obama only paid a 26% income tax rate for 2010

    this thread again shows the reich wing is clueless about things economic
    in various discussions a distinction has been made between marginal tax rate and effective tax rate to show why the wealthy are able to exploit tax loopholes
    and it is clear in this thread that many remain clueless of the distinction between the marginal and effective tax rates


    learn from Judge Learned Hand:
    "Anyone may arrange his affairs so that his taxes shall be as low as
    possible; he is not bound to choose that pattern which best pays the
    treasury. There is not even a patriotic duty to increase one's taxes.
    Over and over again the Courts have said that there is nothing sinister
    in so arranging affairs as to keep taxes as low as possible. Everyone
    does it, rich and poor alike and all do right, for nobody owes any
    public duty to pay more than the law demands."
    Obama is entitled to exploit the loopholes like any other taxpayer
    if we want the exploitation ended, then we must convince the congress to close those loopholes. as Obama has requested
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

  10. #10
    Banned
    Join Date
    Jan 2011
    Last Seen
    07-25-13 @ 08:55 AM
    Lean
    Undisclosed
    Posts
    1,951

    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by Bruce View Post
    Care to prove that statement?
    Obama's tax return: Income down — to $1.7 million - Yahoo! News

    .....Barack HusSame Obama took advantage of the BUSH TAX RATES........the Home Mortgage interest deduction........and Charitable Deductions......

    The guy is a complete fraud and billboard of hypocrisy.........
    .
    .

Page 1 of 27 12311 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •