PDA

View Full Version : Obamas tax return just published



tsjct
04-13-2012, 10:47 AM
They earned $789,674 and paid $162K in taxes. Thats roughly 20%. What happened to the FAIR taxes paid. Thought he said it needed to be no where lower than 30%. He should write a check for the remaining 10% to be fair. Wonder if he will.

angel0430
04-13-2012, 10:58 AM
They earned $789,674 and paid $162K in taxes. Thats roughly 20%. What happened to the FAIR taxes paid. Thought he said it needed to be no where lower than 30%. He should write a check for the remaining 10% to be fair. Wonder if he will.

I am not defending The President, but is this a law?

pghin08
04-13-2012, 11:00 AM
They earned $789,674 and paid $162K in taxes. Thats roughly 20%. What happened to the FAIR taxes paid. Thought he said it needed to be no where lower than 30%. He should write a check for the remaining 10% to be fair. Wonder if he will.

That'd be a good political move for him. I actually think it's cool that he released them.

Frantiic
04-13-2012, 11:00 AM
$789,674 for one year? isnt that weak? its alot of money, but president of the USA? i thought he would bring that in each month lol

angel0430
04-13-2012, 11:02 AM
$789,674 for one year? isnt that weak? its alot of money, but president of the USA? i thought he would bring that in each month lol

That is a lot of money. You have to remember that they do not have to pay for food, transportation, housing and all the extra perks that they get.

MadMan1978
04-13-2012, 11:03 AM
the US President is paid 400,000 US per year


And why should he write a check back to them?

I wouldnt...the Tax Law allows him to pay that amount and with certain tax breaks and credits.

tsjct
04-13-2012, 11:11 AM
We have to remember this is what he CLAIMED. I am sure there was a lot more money he did not claim. He was a Millionaire before he got into the White house.

pghin08
04-13-2012, 11:14 AM
We have to remember this is what he CLAIMED. I am sure there was a lot more money he did not claim. He was a Millionaire before he got into the White house.

Just because someone is a millionaire doesn't mean they make a million a year. I would doubt there's much that's unclaimed on there, he understands the criticism he'd face if found out.

tsjct
04-13-2012, 11:17 AM
Just because someone is a millionaire doesn't mean they make a million a year. I would doubt there's much that's unclaimed on there, he understands the criticism he'd face if found out.

my point was 762K to him is just chump change. If anyone thinks that 762K to Obama is alot of money they are fooling themselves.

Star_Cards
04-13-2012, 11:20 AM
They earned $789,674 and paid $162K in taxes. Thats roughly 20%. What happened to the FAIR taxes paid. Thought he said it needed to be no where lower than 30%. He should write a check for the remaining 10% to be fair. Wonder if he will.

you're complaining about him paying what he owes under the current tax code? Even if he thinks the rich should pay more tax, if he's paying the amount that he owes under the current system I don't see the gripe outside of just finding something to gripe at.

Star_Cards
04-13-2012, 11:24 AM
$789,674 for one year? isnt that weak? its alot of money, but president of the USA? i thought he would bring that in each month lol

the president never makes millions of dollars a year while they are president. They earn $400,000 for their annual base salary plus some other perks. The real money comes after they are done and have the free time to speak and write and such.

tsjct
04-13-2012, 11:26 AM
you're complaining about him paying what he owes under the current tax code? Even if he thinks the rich should pay more tax, if he's paying the amount that he owes under the current system I don't see the gripe outside of just finding something to gripe at.

He is on TV everyday talking about the FAIR TAX and the rich should pay more. put his money where his mouth is and WRITE that check. The irs will take a check any day. I think he is considered RICH :cool:

Star_Cards
04-13-2012, 11:26 AM
We have to remember this is what he CLAIMED. I am sure there was a lot more money he did not claim. He was a Millionaire before he got into the White house.

so you think the president has income for 2011 that he didn't claim? I'd be surprised that any president would try to skirt on what he claims. Wouldn't be a smart choice anyway. Being a millionaire before 2011 has nothing to do with what you earned in 2011.

Star_Cards
04-13-2012, 11:28 AM
He is on TV everyday talking about the FAIR TAX and the rich should pay more. put his money where his mouth is and WRITE that check. The irs will take a check any day. I think he is considered RICH :cool:

I'd assume that if he got the tax code updated to where his bracket paid more, he would. Why expect anyone to donate extra money to the IRS before any sort of tax code has been passed. Can the IRS even take donations?

I'd say that he is lumping himself into the "rich" group when he speaks about the rich paying more, etc.

pghin08
04-13-2012, 11:31 AM
my point was 762K to him is just chump change. If anyone thinks that 762K to Obama is alot of money they are fooling themselves.

Disagree. Most publications have Obama's net worth at anywhere between $5-11 million. $762K surely isn't chump change to him. As StarCards said though, he'll make more money giving speeches and doing appearances after his presidency that he ever made during it or from his book royalties.

pghin08
04-13-2012, 11:32 AM
I'd assume that if he got the tax code updated to where his bracket paid more, he would. Why expect anyone to donate extra money to the IRS before any sort of tax code has been passed. Can the IRS even take donations?

I'd say that he is lumping himself into the "rich" group when he speaks about the rich paying more, etc.

tsjct is right though. If he's saying that the rich need to pay more, he should lead by example. And yes, the IRS can do that (I think).

mrveggieman
04-13-2012, 11:42 AM
I'm sure the IRS will take a donation but no one will do it because they will spend more more than donation actually is trying to figure out what to do with it.

Star_Cards
04-13-2012, 11:46 AM
my point was 762K to him is just chump change. If anyone thinks that 762K to Obama is alot of money they are fooling themselves.

calling that chump change is hardly understandable. what does the value of 762K to Obama, you, me, or anyone else have to do with what taxes are owed? If a person is a millionaire and makes 762K should pay the same amount of tax as a person who is broke and then makes 762K in a year. I'm not seeing what the value of 762K to Obama has to do with anything. If he paid the proper amount of tax under the current tax code there's no gripe in my opinion.

Star_Cards
04-13-2012, 11:48 AM
tsjct is right though. If he's saying that the rich need to pay more, he should lead by example. And yes, the IRS can do that (I think).

meh... I don't expect him to pay more than what the current tax code says he has to... even if he says he wants to increase the tax on the rich. I guess it just doesn't bother me as long as he is paying the proper amount under the code in place now. The "lead by example" isn't lost on me, but don't think he should just make a donation to the IRS.

habsheaven
04-13-2012, 12:06 PM
tsjct is right though. If he's saying that the rich need to pay more, he should lead by example. And yes, the IRS can do that (I think).

Not so fast. Regarding the numbers quoted in the first post. Is that his net income or his taxable income? The actual rate he is paying changes depending on which is which.

Edit: Just found his return on Twitter. Actual taxable income is just under $500,000 making his tax rate approx. 33%.

angel0430
04-13-2012, 12:33 PM
He also donated 22% of his income....that is a pretty good chunk of money right there. In regards if he needs to right a check to the IRS...heck no....for what? Would it look good...probably...although I would say that would be dumb...I rather donate that money to some charity that can take more advantage of it.

MadMan1978
04-13-2012, 12:53 PM
I know this Democrat or Republican or what the party you choice ...NEVER pay more in taxes then is allowed!

Glad to see he can get his rate down to 20%...just shows you all the loop holes in the system...

shrewsbury
04-13-2012, 02:37 PM
considering he doesn't need any money for anything, why doesn't he buy some health care for all those people rejected by the evil insurance companies??

mrveggieman
04-13-2012, 02:39 PM
Or better yet stop health care for all politicans since unless they can figure out a way that we all can have health care since politicans can afford to pay for their own health insurance anyway.

angel0430
04-13-2012, 02:47 PM
Or better yet stop health care for all politicans since unless they can figure out a way that we all can have health care since politicans can afford to pay for their own health insurance anyway.

I like your idea better

shrewsbury
04-13-2012, 02:51 PM
Or better yet stop health care for all politicans since unless they can figure out a way that we all can have health care since politicans can afford to pay for their own health insurance anyway.

why not just stop it? why should they or we figure out how to get healthcare for everyone? no one figured it out for me or my wife and 3 kids, i did it myself

most of the people who don't have it don't work and can, are illegally in the country, or would rather spend their "extra" money on cigs, beers, weed, dope, and eating out.

i live 1 block away from the local community center, every 1st friday of the month they give food to the "poor", these "poor" people pull up in cars nicer than i have, wearing $100 shoes and smoking, but they need handouts?

i have no issue helping those who try and are having hard times, but that is not the norm any longer

angel0430
04-13-2012, 02:58 PM
why not just stop it? why should they or we figure out how to get healthcare for everyone? no one figured it out for me or my wife and 3 kids, i did it myself

most of the people who don't have it don't work and can, are illegally in the country, or would rather spend their "extra" money on cigs, beers, weed, dope, and eating out.

i live 1 block away from the local community center, every 1st friday of the month they give food to the "poor", these "poor" people pull up in cars nicer than i have, wearing $100 shoes and smoking, but they need handouts?

i have no issue helping those who try and are having hard times, but that is not the norm any longer

That is never going away because situations like that one are the ones that bring the votes on elections time

AUTaxMan
04-13-2012, 04:44 PM
That'd be a good political move for him. I actually think it's cool that he released them.

Presidents always release them.

AUTaxMan
04-13-2012, 04:46 PM
tsjct is right though. If he's saying that the rich need to pay more, he should lead by example. And yes, the IRS can do that (I think).

Not the IRS. The Department of Treasury. I believe there is a link to donate on their website.

AUTaxMan
04-13-2012, 04:48 PM
Not so fast. Regarding the numbers quoted in the first post. Is that his net income or his taxable income? The actual rate he is paying changes depending on which is which.

Edit: Just found his return on Twitter. Actual taxable income is just under $500,000 making his tax rate approx. 33%.

Effective rate is the one that matters. You know that.

MadMan1978
04-13-2012, 05:03 PM
So lets have a real question for all of you

Would you make a "DONATION" if in the same shoes as the Pres Obama?

duane1969
04-13-2012, 05:04 PM
So did he file "married filing seperately" or did he and the misses file jointly?

I saw someone said that he will earn more after he is not president and starts writing books. He has already written books. "Dreams From My Father" comes to mind. He reported $5.5 million in 2009 and $1.7 million in 2010 based mostly on book sales. I guess his books are less popular now too.

duane1969
04-13-2012, 05:05 PM
So lets have a real question for all of you

Would you make a "DONATION" if in the same shoes as the Pres Obama?

After the Fed and state got thru putting me thru the wringer I didn't have anything left for making a donation. :confused0024:

MadMan1978
04-13-2012, 05:33 PM
So did he file "married filing seperately" or did he and the misses file jointly?

I saw someone said that he will earn more after he is not president and starts writing books. He has already written books. "Dreams From My Father" comes to mind. He reported $5.5 million in 2009 and $1.7 million in 2010 based mostly on book sales. I guess his books are less popular now too.
the is the rule of thumb for ever president

MadMan1978
04-13-2012, 05:33 PM
So did he file "married filing seperately" or did he and the misses file jointly?

I saw someone said that he will earn more after he is not president and starts writing books. He has already written books. "Dreams From My Father" comes to mind. He reported $5.5 million in 2009 and $1.7 million in 2010 based mostly on book sales. I guess his books are less popular now too.
the is the rule of thumb for all presidents

MadMan1978
04-13-2012, 05:34 PM
After the Fed and state got thru putting me thru the wringer I didn't have anything left for making a donation. :confused0024:

you dont have a great tax attorney

AUTaxMan
04-13-2012, 05:55 PM
So lets have a real question for all of you

Would you make a "DONATION" if in the same shoes as the Pres Obama?

Why would you make a donation to the federal government where you know it will be wasted when you can give it to your church or a local charity and control exactly how it is spent?

AUTaxMan
04-13-2012, 05:57 PM
you dont have a great tax attorney

A lot of people who have great tax attorneys are in that very situation.

MadMan1978
04-13-2012, 06:34 PM
Why would you make a donation to the federal government where you know it will be wasted when you can give it to your church or a local charity and control exactly how it is spent?
again you miss the point

AUTaxMan
04-14-2012, 12:10 AM
again you miss the point

If so, that's because again you fail to make one.

MadMan1978
04-14-2012, 11:19 AM
If so, that's because again you fail to make one.
Fine...

I will walk into this trap


Why should Obama pay the extra tax you feel he should??

I know 100% for sure if you were in the same situation you would not!

I know for a fact I would not nor would I ask you to pay more then the law dictates.
I have made the point once again!

AUTaxMan
04-14-2012, 10:50 PM
I never said he should pay more than the law required.

You are right about one thing. I will never give the government one cent more than I am obligated.