The Hypocrite in Chief … After Demonizing the Rich, President Obama only Pays Effective Tax Rate of 18.4% for 2012
LION LYING KING: There has been no greater hypocrite to ever grace the White House than President Barack Hussein Obama … The following is subtitles. Taxes for thee, not for me.
President Barack Obama is about class warfare, he is about dividing America and now he is about hypocrisy. During the 2012 Presidential campaign Obama railed on the 1%’ers and called all those rich people who paid less than their secretaries the evil rich. Obama harped on the so-called Buffett Rule, which would require millionaires to pay at least 30% of their income in taxes. Of course this came about because the evil rich were making most of their money from investments as opposed to income, that are taxed at a different rate. During the 2012 presidential election Obama played class warfare and went after his GOP opponent Mitt Romney who paid about 14% on his income. Obama made political hay lying to the American public and using the issue that ultra-rich Warren Buffett paid less in his tax rate than did his secretary. However, in 2011 the hypocrite that resides in the White House also paid a lower effective tax rate than his secretary.
What, You thought the 30% tax for the rich was meant for me?
Guess what, Obama is even more of a hypocrite in 2012 than he was in 2011.
According the WSJ, President Barack Obama paid an effective tax rate of only 18.4%. Yup America, that’s it. For all his whining, for all his rhetoric, for all his class warfare and the rich should pay 30% … OBAMA ONLY PAID 18%. I guess this is more of the shared sacrifice that Obama talks about. Obama tells other rich folks that they are evil because they pay a low tax effective rate, yet he takes advantage of the same deductions and loop holes that everyone else does. If he was a true leader and really had the convictions of his beliefs, he would have told his accountants not to take the deductions and make it that his effective rate came to 30% for 2012. However, he did not do so because like every liberal, he wants others to pay the money, not themselves.
President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes for 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said.
The first family’s adjusted gross income—the amount after certain deductions and exemptions—was down from $789,674 the Obamas reported in 2011, when they paid total federal taxes of $162,074, an effective rate of 20.5%.
The decline was due primarily to falling royalties from sales of books Mr. Obama has written, according to tax returns released Friday. The president’s book-related earnings peaked in 2009 when he garnered about $5.6 million from two publications, “The Audacity of Hope” and “Dreams From My Father.” The royalties have fallen over time, to just under $274,000 in 2012.
The Obamas paid $29,450 in state income tax to Illinois for 2012.
Obama is truly a disgrace as President. Where is the MSM calling Obama out on his double standard hypocrisy? Personally, I do not believe in the “Buffett Rule”, but if one did and actually wanted to make it a law, one would think that they would lead by example. Not this president.