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.
AFTER 4 YEARS SENATE DEMOCRATS PASS A BUDGET WITH $1 TRILLION IN TAX HIKES …
For the first time in four years the Democrat controlled US Senate has passed a budget. From the looks of it they shouldn’t have bothered. The budget plan was passed by a 50-49 vote in the Democratic-controlled chamber, with 4 Democratic senators facing tough re-election campaigns in 2014 joined all the Senate Republicans in opposing the measure. Max Baucus (D-MT), Mark Begich (D-AK), Kay Hagan (D-NC) and Mark Pryor (D-AR) all voted against the Democrat budget. It is just a coincidence that all four Democrats are up for reelection in 2014 “Red” states. Vulnerable Senate Democrats like Mary Landrieu (LA), Mark Warner (VA) and Tim Johnson (SD) should be made to pay a price in the 2014 elections for supporting the budget. Simply incredible, after four years of not doing their job, the budget that Democrats pass is chock full of new spending, taxes and a vote against actually balancing it. Oh wait, did we mention it just taxes, taxes and taxes?
From The Hill:
Centrist Sens. Kay Hagan (D-N.C.), Joe Manchin (D-W.Va.), Joe Donnelly (D-Ind.), Mark Pryor (D-Ark.), Mark Begich (D-Alaska), Heidi Heitkamp (D-N.D.) and Max Baucus (D-Mont.) were all non-committal up until the end.
Baucus, Begich, Hagan and Pryor joined the entire GOP caucus in voting against the budget resolution. Sen. Frank Lautenberg (D-N.J.), who was ill, missed the vote. His office said he would have been available to vote if needed.
All the Democratic senators who voted “no” are up for reelection in 2014 in states that voted for GOP nominee Mitt Romney.
Democrats had been dogged by criticism for failing to approve a budget resolution since 2009 and the vote removes that GOP talking point from the political scene.
No wonder Senate Democrats had not passed a previous budget prior to Obama’s reelection. The Senate budget has a 0% chance of passing The House.
Economy Surges in America’s Low Tax, Energy Rich, Pro-Business Red State Growth Corridors … Obamanomics Disproved Yet Again
OBAMANOMICS: EPIC FAILURE …
It is no coincidence that “RED” states with energy rich, low taxes and less oppressive government regulation are showing an economic growth in the United States as liberal “blue” states like California and Massachusetts are not. The trends show that the U.S. economic future is dominated by four growth corridors that are generally less dense, more affordable, and markedly more conservative and pro-business: the Great Plains, the Intermountain West, the Third Coast, spanning the Gulf states from Texas to Florida, and the Southeastern industrial belt. When businesses move to these areas for economic reasons, the people will follow. Imagine that, what a novel concept. Areas that are low in taxes, pro-business, energy rich states that are not afraid to unleash capitalism are a success. What do most all of the states have in common, they are “Red” states.
In the wake of the 2012 presidential election, some political commentators have written political obituaries of the “red” or conservative-leaning states, envisioning a brave new world dominated by fashionably blue bastions in the Northeast or California. But political fortunes are notoriously fickle, while economic trends tend to be more enduring.
These trends point to a U.S. economic future dominated by four growth corridors that are generally less dense, more affordable, and markedly more conservative and pro-business: the Great Plains, the Intermountain West, the Third Coast (spanning the Gulf states from Texas to Florida), and the Southeastern industrial belt.
Overall, these corridors account for 45% of the nation’s land mass and 30% of its population. Between 2001 and 2011, job growth in the Great Plains, the Intermountain West and the Third Coast was between 7% and 8%—nearly 10 times the job growth rate for the rest of the country. Only the Southeastern industrial belt tracked close to the national average.
More interesting data pointed out by Instapundit showing the migration of the population away from the high tax states. Their fear though is that will the migration of blue state liberals ruin the places to where they are going to as they have devastated the Northeast and states like California and Illinois. My personal opinion is no. The moochers and leeches will stay put looking for a government hands and entitlements. Those who are tired of the high taxes and liberal oppression are the ones who are looking for greener pastures. Or should I say “red” state pastures.
Since 2000, the Intermountain West’s population has grown by 20%, the Third Coast’s by 14%, the long-depopulating Great Plains by over 14%, and the Southeast by 13%. Population in the rest of the U.S. has grown barely 7%. Last year, the largest net recipients of domestic migrants were Texas and Florida, which between them gained 150,000. The biggest losers? New York, New Jersey, Illinois and California.
LES MISERABLES: Detroit Tops List of Most Miserable Cities in United States … Obama’s Current Home Town of Chicago is #4 with a Bullet
For the most miserable cities, it truly is an Obamanation …
This should come as a shock to absolutely no one … According to Forbes ranking, Detroit, Michigan tops the list as the most miserable city in the United States. Detroit was a pretty easy choice for #1 with its violent crimes, high unemployment, dwindling population and financial crisis. What do you notice that every one of these cities has in common … Democrat leadership, or the lack thereof. What do these cities also have in common, they all overwhelmingly voted for Barack Obama. Don’t look now, as the immortal Casey Kasem would say during his music countdown, Obama’s current home town of Chicago is #4 with a bullet.
The latest blow was Tuesday’s announcement that the city is on the verge of being taken over by the state. Detroit is in a financial emergency and cannot pay its bills. The city has been issuing debt to fund day-to-day operations. The continuing problems propelled Detroit to the top spot in our 2013 ranking of America’s Most Miserable Cities.
This year we examined nine factors for the 200 largest metro areas in the U.S. The metrics include the serious: violent crime, unemployment, foreclosures, taxes (income and property) and home prices. We also include less weighty, but still important quality-of-life issues like commute times and weather.
Detroit’s problems are hardly new. It has been in a four-decade decline, paralleling the slide of the U.S. auto industry. The city’s debt rating was cut to junk by Moody’s Investors Service in 1992, but declining tax revenues from a shrinking city will soon make Detroit a ward of the state.
Violent crime in the Detroit metro division was down 5% in 2011, but it remains the highest in the country with 1,052 violent crimes per 100,000 people, according to the FBI. The city’s financial problems have forced significant cutbacks to the police force. It is a circuitous problem as high crime and unemployment force people to leave the city, which lowers the tax base and strains Detroit’s finances further.
TOP 10 List. The rest of the Top 20 can be seen HERE.
1. Detroit, MI
2. Flint, MI
3. Rockford, IL
4. Chicago, IL – With Barack Obama in office and Rahm Emanuel as mayor Chicago is fading fast. Emanuel’s approval rating plummeting and Chicago is becoming the poster city for gun violence, even with the strictest gun laws in the country. Chicago has slipped from 10th in 2010, 7th in 2011 and 6th in 2012. With the strictest gun laws in the country and with it is only a matter of time before Chicago becomes #1.
5. Modesto, CA
6. Vallejo, CA
7. Warren, MI
8. Stockton, CA
9. Lake County, IL
10. New York, NY
A Delusional San Fran Nan Pelosi Denies Federal Deficit Is Due To Spending Problem … “It is almost a false argument to say we have a spending problem”
More genius from the LEFT …
This morning on FOX News Sunday, former Democrat Speaker of the House Nancy Pelosi told Chris Wallace “it was almost a false argument to say the US has a spending problem.” That is correct, San Fran Nan actually said that the US did not have a spending problem. She not only said it once, she said it twice. Yea, no spending problem, that’s why the federal deficit has been over a trillion dollars every year since Obama has been in office. Could some one explain to me how these people are elected?
From The Hill:
House Minority Leader Nancy Pelosi (D-Calif.) on Sunday called sequestration “a bad idea all around” and urged a balance of spending cuts and closed tax loopholes to avoid it.
Pelosi rebuffed GOP calls for the sequester replacement to focus exclusively on targeting more spending cuts and entitlement reforms.
“It is almost a false argument to say we have a spending problem. We have a budget deficit problem that we have to address,” she told Fox News’s Chris Wallace on Sunday.
Pelosi added that the deficit and debt are at “immoral levels” and “must be reduced.”
“It isn’t as much a spending problem as much as it is priorities,” she said, arguing that tax subsidies were a better target than additional cuts that could hit programs such as education.
A recent FOX News poll indicated that 83% of Americans think that the federal government has a spending problem. Um, how did Obama win reelection again? How does Pelosi come up with such an idiotic statement and actually keep a straight face? Could the Botox have finally got to her brain, the Lonely Conservative seems to think so and with all that plastic surgery, it’s rather easy to keep a straight face. BTW House Minority Leader Pelosi, with all the money that we have spent on education, it has failed our children.
Posted February 10, 2013 by Scared Monkeys
2012 Elections, Barack Obama, Budget Deficits, Democrats, Economy, Federal Deficits, FOX NEWS, Government, Liberals, Nancy Pelosi, National Debt, Obamanation, Obamanomics, Out of Control Spending, Polls, Socialist in Chief, Tax & Spend Liberals, Taxes, You Tube - VIDEO | 4 comments
Thanks to Obamacare Smith & Nephew Orthopedics Laying Off 100 Workers Because of 2.3% Excise Tax on Medical Devices
Obamacare costs Americans more jobs …
The 100 employees who are being laid off at Smith & Nephew Orthopedics in Memphis, TN and Andover, MA can than President Barack Obama and Obamacare for their new found unemployment. The lay offs are being attributed to Obamacare and the excise tax was built into the Affordable Healthcare Act and took effect on January 1, 2013 that puts a 2.3% tax on medical devices. Just yet more brilliance from Barack Obama and the government take over of healthcare. With a poor economy and a jobs market that continues to struggle with job growth, Obama has done his part to make sure even more Americans lose their jobs. All in the name of taxes and increasing g revenue to pay fro his boondoggle called Obamacare.
I guess its kind of hard for you to keep your insurance and doctors like I promised if you lose your job, eh?
Smith & Nephew Orthopedics is laying off an estimated 100 employees in Memphis and Andover, Mass., citing the 2.3 percent excise tax on orthopedic device companies as the reason.
Joe Metzger, senior vice president of corporate communications for Smith & Nephew, said the tax is impacting “a number of companies across the U.S.”
“Smith & Nephew is not immune from this added expense burden,” Metzger said in a statement. “Unfortunately, and in order to absorb this cost burden into our business, this has meant less than 100 positions have been made redundant across various departmental functions in our Tennessee and Massachusetts sites. The company is providing the affected employees with a comprehensive severance package and outplacement support.”
Smith & Nephew employs an estimated 1,815 people in Memphis, according to Memphis Business Journal research. Metzger declined to reveal how many of the roughly 100 layoffs occurred in Memphis. A report in the Memphis Daily News, quoting anonymous sources, said there were 60 local jobs lost.
Just curious, if Obamacare is so affordable, why are people losing their jobs to pay for it?
PGA Golfer Phil Mickelson May Retire or Move from California After Democrats Rob Him of 62% of His Income
WELCOME TO BARACK OBAMA’S CLASS WARFARE WORLD … Is the Obama tax increase going to force golfer Phil Mickelson to retire, maybe.
In an interview with Forbes, PGA golfer Phil Mickelson stated that he may retire and/or move from California as Obama and Democrat tax increases now take more than 62% of his income. Thanks to Barack Obama, Democrats, Obamacare and the state of California, Mickelson will see far less money at years end. Due to the fiscal cliff bill, Mickelson will experience an increase in his top tax rate on ordinary income from 35% to 39.6%, and an increase in his top rate on long-term capital gains and qualified dividends from 15% to 20%. Also, because Obama allowed the expiration of the temporary 2% reduction in the payroll tax rate on the first $113,700 of self-employment income. Wait, there is more. Thanks to Obamacare, Mickelson will be liable for an additional 0.9% tax on his self-employment income and 3.8% tax on his net investment income after each exceeds $250,000. However, it does not stop there, the folks of California actually passed a proposition to increase taxes. In November, California passed Proposition 30, which increases the top income tax rate on resident millionaires to 13.3%.
Word is, Phil Mickelson is mad as hell about rising tax rates, and he’s not going to take it anymore. What follows is a brief portion of an interview Mickelson gave earlier today after carding a final-round 66 at the Palmer Course at PGA West in La Quinta – which I assure you, is not associated with the La Quinta next door to your local Denny’s – in which the golfer hinted that he is considering drastic career changes because of a combined tax rate nearing “62, 63 percent:”
Q. When you’re asked about Stricker’s semi-retirement, with the political situation the last couple months, blah, blah, blah, what did you mean by that? Do you find it an unsettling time in a way?
PHIL MICKELSON: Well, it’s been an interesting offseason. And I’m going to have to make some drastic changes. I’m not going to jump the gun and do it right away, but I will be making some drastic changes.
Why wouldn’t one question working hard, entering as many tournaments as Phil does and being away from his family when between the feds and state they take more than 60% of his income. All this so Obama and the libs in California can redistribute his hard work to slackers. Makes all the sense in the world, those that work their tail off, to have the fruits of their labor given to those who don’t. Welcome to Obamaland.
Obama White House Releases Letters from Little Kids Pleading for Gun Control … Would they Do the Same About the Debt?
Mmm, mmm, mmm, Barack Hussein Obama … This is nothing more than moral blackmail.
The “Exploiter” in Chief’s White House has released a letter from children pleading for gun control. Really Mr. President, is this the length of your grasp of the issue? You use children’s words because it plays into your anti-2nd Amendment, “imperial” president agenda? Just curious, would Obama release letters from children that criticize him for his deficit spending and year after year $1 trillion spending that has inflated the national debt to over $16 trillion? The debt is going to affect all future children, grand children and great grand children as opposed to the few who would ever be exposed to assault weapons. What about the lack of any job growth plan that has caused children’s parents to be continually on unemployment and food stamps? So I ask you America, who is more dangerous to our children, assault weapons or Barack Obama’s socialist, big government out of control spending agenda?
From The Weekly Standard:
The White House today released letters from little kids pleading for gun control, just hours before President Obama is to release a comprehensive proposal to limit guns and ammunition. The letters were released to the Associated Press in what appears to be a coordinated effort to help shape the narrative the day of Obama’s announcement.
“Three days after six teachers and 20 students were killed by a rampaging gunman at their elementary school in Newtown, Conn., an 8-year-old from Maryland pulled out a sheet of paper and asked President Barack Obama for ‘some changes in the laws with guns,’” the AP reports.
“It’s a free country but I recommend there needs (to) be a limit with guns,” Grant wrote in a letter dated Dec. 17. “Please don’t let people own machine guns or other powerful guns like that.”
In the days after the shooting, children around the country had the same idea as Grant. They put their feelings about the massacre on paper and sent those letters to a receptive White House.
“I am writing to ask you to STOP gun violence,” wrote Tajeah, a 10-year-old from Georgia. “I am very sad about the children who lost their lives. So, I thought I would write to you to STOP gun violence.”
Maybe the Children who wrote to the president and are going to stand behind Obama when he puts forth his 19 executive orders today might want to learn the way in which a law is actually passed. As stated above, what if the children wrote Obama criticising Obamacare or Obama’s out of control debt? What if the children of America spoke out against Obama’s big government socialism and tax and spend policies? Any chance they would be released to the public?
Posted January 16, 2013 by Scared Monkeys
2nd Amendment, Barack Obama, Budget Deficits, child abuse, Child Welfare, Community Agitator, Divider in Chief, Gun Control, Imperial President, National Debt, Obamacare, Obamanation, Obamanomics, Tax & Spend Liberals, Taxes, US Constitution, WTF | no comments
Hey America, how’s that hopey-changey Obama payroll tax increase treating ya?
America, so you thought that Barack Obama and Democrats were just looking to raise taxes on the rich, eh? This past Friday when you received your pay check you realized otherwise. So many jealous and envious people were so caught up in Obama’s class warfare in taxing and punishing the so-called rich with a tax increase that they did not even consider that Obama was going to raise taxes on them too. Don’t say you were not warned.
Obama is laughing at the fact he was able to divert the attention of Americans away from the Obama payroll tax increase
As reported at Yahoo.com, say hello to the Obama payroll tax hike and goodbye to your hard earned money to the government. According to the Tax Policy Center, about 160 million workers pay this expired payroll tax that President Barack Obama cared little to extend during a terrible economic down turn. The increase will cost the average worker about $700 a year. The joke of a fiscal cliff bill contained no provisions to help the middle class avoid this 2% tax increase.
Americans are beginning to feel the pinch from Washington’s decision to embrace austerity measures aimed at bringing down the nation’s budget deficit.
Paychecks across the country have shrunk over the last week due to higher federal tax rates, and workers are already cutting back on spending, which will drag on the economy this year.
In Warren, Rhode Island, Ben DeCastro got his first paycheck on Friday in which taxes on his wages rose by 2 percentage points. That works out to about $30 a week.
“You sit back and do the calculation, and that’s $30 I’m not going to spend at a restaurant,” said DeCastro.
He said he worries that people hit by higher taxes will spend less at the chain of furniture stores where he works as a marketing manager.
Economists estimate the payroll tax hike will reduce household incomes by a collective $125 billion this year. Some households could reduce contributions to retirement accounts or other savings, but most are also expected to cut back on spending.
That alone could reduce economic growth this year by about 0.6 percentage point, said Michael Feroli, an economist at JPMorgan in New York City.
“The headwind to growth should be noticeable,” he said.
House Democrat Minority Leader Pelosi Says Tax Hikes Must Be Part of Next Deficit Deal … Dems Look for Additional $1 Trillion in new Taxes in 2013
And you bought the notion that Democrats just wanted to tax the rich … Obama, Pelosi, Reid and the Democrats have not even yet started to tax “We the People”.
House Minority leader Nancy Pelosi says that tax hikes must be a part of the next fiscal deal. Hmm, they have already taxed the rich and now they are coming after the rest. Never forget that Democrats want to tax your dreams as well. Elections have consequences and sadly too many suckers bought Obama’s class warfare rhetoric and now ALL Americans will face tax increases.
From The Hill, Democrats want nothing to do with cutting back their wasteful and over the top spending, they just want to continually tax We the People . At some point the American people need to take the credit card away from these children.
Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later this year to balance Republican demands to slash mandatory spending.
Democratic leaders have had little time to craft a new position for their party since passing a tax deal Tuesday that will raise $620 billion in revenue over the next ten years.
The emerging consensus, however, is that the next installment of deficit reduction should reach $2 trillion and about half of it should come from higher taxes.
This sets up tax reform as one of the biggest fights of the 113th Congress, which began on Thursday.
Republicans say tax reform should be revenue neutral. Additional revenues collected by eliminating or curbing tax breaks and deductions should be used to lower rates.
Senate Republican Leader Mitch McConnell (R-Ky.) has dismissed the possibility of negotiating additional tax increases.