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Obama, first lady release 2012 tax returns

roughdraft274 said:
At no point has he ever preached for the wealthy to not use deductibles. And he has argued for higher taxes, which in turn would raise his taxes. He would only be a hypocrite if he was arguing that everyone except him needs to pay higher. You have no idea what you're talking about.

And also, he didn't do "everything possible" to pay as little as possible. He took completely standard exemptions (for ****s sake, you are bitching in your post about him deducting the mortgage on his house, which every home owner that pays interest on their house does). As far as I know, he didn't stash a wad of money in a tax haven some where.

Get over your false outrage.
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"During each year that he has been president, Mr. Obama has proposed clipping the mortgage interest deduction for taxpayers in the top two tax brackets. The proposal hasn’t gone anywhere.

Under that proposal, households that currently pay income taxes at the 33% and 35% rates would only be able to claim deductions at the 28% rate. In other words, for every $1,000 in deductions, a household would realize a tax savings of $280 instead of $350."

President Obama Weighs In on Mortgage-Interest Deduction - Developments - WSJ
 
sawyerloggingon said:
"During each year that he has been president, Mr. Obama has proposed clipping the mortgage interest deduction for taxpayers in the top two tax brackets. The proposal hasn’t gone anywhere.

Under that proposal, households that currently pay income taxes at the 33% and 35% rates would only be able to claim deductions at the 28% rate. In other words, for every $1,000 in deductions, a household would realize a tax savings of $280 instead of $350."

President Obama Weighs In on Mortgage-Interest Deduction - Developments - WSJ
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Again, he has argued for that change, which would make him pay more on his taxes. That doesn't mean that he has to begin paying higher taxes now. Because it wouldn't do any good. Any my argument for bringing up mortgage interest deductions is to show that he is taking completely normal deductions, your source does nothing to argue with my point, other than to say that he thinks it should be changed slightly.
 
Why did Obama claim those evil loopholes called deductions? Why is he taking any deduction at all? He ought to pay his fair share. :lol: Children and seniors are starving because he claimed deductions.
 
American said:
Why did Obama claim those evil loopholes called deductions? Why is he taking any deduction at all? He ought to pay his fair share. :lol: Children and seniors are starving because he claimed deductions.
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Funny that - I see that the President donated one fourth of his income to charity. $100,000 to a group that provide aid to veterans.


Drop the hate and try to think in a rational manner
 
American said:
Why did Obama claim those evil loopholes called deductions? Why is he taking any deduction at all? He ought to pay his fair share. :lol: Children and seniors are starving because he claimed deductions.
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Did you take any deductions?
 
sawyerloggingon said:
So as obama preaches that the rich don't pay enough tax he and the queen take advantage of every tax break they can and get their rate down to 18.4%, what a hypocrite!


"Obama, who renewed his call for higher taxes on the wealthy in the budget he released Wednesday, paid $112,214 in taxes last year, putting his effective federal tax rate at 18.4 percent. The Obamas donated almost one-quarter of their income to charity, according to tax returns released by the White House.
Most of the $608,611 that the Obamas reported in adjusted gross income came from the president's salary, as he reported $394,840 in wages. An additional $258,772 came from royalties from his books, including his 1995 memoir "Dreams From My Father," his 2006 political book, "The Audacity of Hope," and a 2010 children's book, "Of Thee I Sing: A Letter to My Daughters."


"Itemized deductions of $258,385 brought the Obama's taxable income down to $335,026. The first family deducted $45,056 in interest on the mortgage for their home in Chicago, plus $36,554 in state and local taxes and $26,751 in real estate taxes."

Obama, first lady earned less than 2012 than prior years in office, paid $112k in income taxes | StarTribune.com
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I do not understand all the hype over tax returns. I didn't care if Romney released his and I do not care what Obama's say. All the release of tax returns do is to cause those who are highly partisan to beef about them. Tax returns has no effect on how someone will govern or has governed.

So Obama is a hypocrite for going after Romney who payed a low rate and Obama does the same. Big deal. In my book all 536 elected officials in Washington D.C. are hypocrites for their constant "Do as I say and not as I do," type of governing.
 
Redress said:
I think the word hypocrisy has you confused as to what it means. If Obama was suggesting that people not use every deduction they are entitled to under the law, but did himself, that would be hypocrisy. Wanting to change the law, while following the law, that is not hypocrisy.
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Didn't he and his people all but label Mitt Romney as a tax cheat?
 
Somerville said:
Why don't you Obama haters put in the following fact in your various screeds?

The 'part-time job' is related to the books he has written and as he continues to receive royalties on said publications, he has to report it in that way.
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He lowered his taxes by contributing $50,000 to an SEP and 24% of his income to charity. I salute him for both, especially the charity.
 
wbcoleman said:
Didn't he and his people all but label Mitt Romney as a tax cheat?
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Not sure if he did, nor "his people", but some certainly did. Not me however, and it is irrelevant to this since the reason those who did make the claim(with no factual basis) was Romney not releasing more than one tax return. Obama did release his, and has released others. So that does not make for hypocrisy.
 
Redress said:
You don't know what hypocrisy is. He preaches higher rates and fewer deductions available for the wealthy, ie a change in tax law. He does not preach paying more than what you are obligated to.
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Be the change you wish to see in the world. -- Ghandi
 
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