Obamas' Tax Return Shows Lower Earnings

online.wsj.com...

WASHINGTON—President Barack Obama and First Lady Michelle Obama paid $112,214 in federal income taxes in 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said Friday.

What Obama ? Your not paying your fair share!!!!!!

The first family's income declined from the $789,674 in adjusted gross income they reported in 2011. That year they paid total federal taxes of $162,074, an effective rate of 20.5%. Their 2012 income continues a steep decline from 2010 when they reported $1.7 million in adjusted gross income, the bulk of which was royalties from sales from books written by Mr. Obama.

What $1.7 million in 2010, and has consistently fallen?

Egads!

Meanwhile, Vice President Joe Biden and wife Jill Biden reported adjusted gross income of $385,072 in 2012, the White House said. The Bidens paid $87,851 in total federal tax for 2012, a further $13,531 in Delaware income tax and $3,593 in Virginia income tax. The Bidens contributed $7,190 to charity in 2012.

Uh what Joe?

Your paying federal income tax,Virginia income tax, and Delware income tax?

So what about your boss Joe?

The Obamas paid $29,450 in state income tax to Illinois for 2012

Hmm Joe maybe need a learn a thing or two from your boss.

So shouldn't those two be practicing what they are preaching?

Pay your fair share might go a tad bite further if they actually did practice what they preached,.

Just my opinion tho.

What are you talking about? Are you saying that he should pay more? If that's the case, he agrees with you.

Originally posted by links234
What are you talking about? Are you saying that he should pay more? If that's the case, he agrees with you.

He say he should pay more, but apparently needs an act of government for it to happen.

Also He should have been writing a check to the treasury than to "charity"

reply to post by neo96


I'm going to make the assumption that you, personally, have never overpaid your taxes on purpose.

It's not possible to pay more than you owe and end up with less in the end.

reply to post by links234


Sorry anyone can cut a check to the treasury anytime they want.

True fact.

Actually, the IRS will send you a refund if you overpay. They essentially get a short-term loan, at 0 interest, but paying more than what you owe isn't the same as giving the government the amount you overpaid.

reply to post by neo96


How do you know he didn't do that?

I don't think that sort of expenditure is reportable to the IRS.