The Obama’s Tax Return: Earned $1.7M in income and Paid $454K in Federal Taxes

 

Just curious, if Barack Obama is about to head out and lecture Americans on paying more taxes … why doesn’t he start with himself first? Isn’t it a rather hollow argument to make others pay more when the one delivering the message does not even heed his own words?

Hmm … In 2010 President Barack Obama and first lady Michelle Obama earned $1.7 million in 2010 and paid $454,000 in federal taxes. Doesn’t that only come out to be about 27% tax? Isn’t this the President that says that those more well off should be paying more taxes? In fact, Obama says that it is the rich’s patriotic duty to pay more.

Then how come Barack Obama is only pay at a rate of 27%? Wouldn’t it have been a sign of good faith if Barack and Michelle Obama did not take all the provisions in the tax code that reduced their taxable income? The Obama’s make $1.7 million and want to treat people, small business owners who only make $250K, the same as themselves. Seems like the Obama’s accountants have found several loopholes to reduce their tax exposure. Nice hypocrisy, when Obama is about to head out and lecture Americans to pay more taxes. It would appear that our buddies at the Pirate Cove have the same questions, why didn’t Obama lead by example. This President lead … NEVER!

See the Obama’s tax returns HERE.



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  • Comments

    8 Responses to “The Obama’s Tax Return: Earned $1.7M in income and Paid $454K in Federal Taxes”

    1. Flippy on April 19th, 2011 10:14 am

      WTF? Show me the loophole he used…his return is pretty straight-forward, he itemized out mortgage payments and gifts to charity, and that is about it.

      It would seem easier to look at the return and note the lack of any funny business than to go through the effort of writing an article about something that isn’t there to see.

    2. Jimbo on April 20th, 2011 3:32 am

      # 1..Obama can do no wrong when it comes to this guy “red” he will take any little statement or gesture and twist it so it fits his right wing talking points..He already pays more than a typical person with similar income.

      You’ve now reverted to a very tired old saw about how people are free to individual­ly send more money to the federal government if they think taxes are too low. Why don’t you pay more taxes?I mean aren’t you are a self identified tea-bagger who loves America??
      _____________
      SM: Oh Jumbo, sorry Jimbo … Its the words of your hypocrite and chief. So sorry if you cannot accept the truth. Have some more Kool-Aid. When an individual tells other people what to do, they better be able to do it themselves. Otherwise, SHUT UP. Obama says people earning for than $250K should pay more taxes, yet I see he had his accountants find every loop hole in the tax law to prevent himself from paying more taxes.

      That is called hypocrisy. However, every loophole that Obama used was legal which can explain why we do need to reform the tax law and create a usage tax, not an income tax.

      The LEFTIST above said, why don’t I pay more taxes? Earth to the not so bright, I am not the one that thinks people should pay more taxes. I think the federal govt spends far too much. They receive more $’s than they need at this point.

      Sorry, but Obama is a hypocrite and is quick to spend other people’s money, however, when it comes to his own … well that’s his. This president is a joke.
      R

    3. super dave on April 20th, 2011 10:41 am

      kool-aid ? these boys must be smokin the obama provided crack pipe.

    4. Flippy on April 20th, 2011 12:56 pm

      Red -

      What loophole are you accusing him of using? I don’t see any being used; The deductions he used are not loopholes, they are clearly the intent of the tax code. If you see something that qualifies as a loophole, please point it out to me; I think you would be the first though…all the blogs are accusing him of using “every loophole” yet nobody has identified any.

      I do agree with the concept of a simpler tax code… Been talked about for years I wonder who really could get that done though? It would be a massive bipartisan effort.

    5. Waterboy on April 20th, 2011 5:41 pm

      Doesn’t it only come out to 25%? Maybe my math is wrong.

      I, quite personally, would like to know how he did it. I pay way more percentage wise, and I would like to know his tricks, because I too would like to keep 75% of what I make.

      I’d like to keep 100% of what I make. I could buy my own tank and park it in my garage—thank you very much!

    6. Waterboy on April 20th, 2011 5:52 pm

      He should have paid 35% , or 485k. Looks like he owes some more money.

    7. Waterboy on April 20th, 2011 9:51 pm

      Ok, I was thinking he made 1.8 million; I see, it’s only 1.7 million.

      That’s 26.7%. How the heck did he do it? I need his CPA.

      Maybe he has the same CPA as Charlie Rangel. Forget it, they would send me to jail.

    8. flippy on April 21st, 2011 4:15 pm

      Ok, I was thinking he made 1.8 million; I see, it’s only 1.7 million.

      That’s 26.7%. How the heck did he do it? I need his CPA.

      Maybe he has the same CPA as Charlie Rangel. Forget it, they would send me to jail.

      ———-
      He “did it” by donating to charity, its not a loophole. Crack open the tax return and have a look-see; he donated A LOT of money.
      ________________________
      SM: No one is saying that he did anything illegal. He did it through exemptions that he is looking to end. The point being that for some one who wants the rich to pay more, why did he reduce his taxable income down to 27% from 35%? Obama should put up or shut up. But like a typical Lib, he just wants others to pay more.

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