Monday, April 18, 2011

Obama Taxes & Income: President & First Lady Paid $453,770 In Taxes On $1.7 Million Income

for those purists out there, the top income tax rate is 35%... Obama paid 26%... i don't begrudge him his charity deductions, but isn't this one of the "loopholes" people talk about?... he deducted $373,289 from his taxable income through charities, mortgage interest, real estate taxes, and state tax deductions... looks like there is 9% more income the federal government can garner by doing away with some deductions the poorer classes cannot take advantage of... maybe, just maybe, raising tax rates isn't the solution, after all.
Read the Article at HuffingtonPost

No comments:

Post a Comment