Barack Obama filed his tax return, showing he made about $1.7 million last year.
WASHINGTON – President Barack Obama is making less money than he used to, though it’s still a lot: He and wife Michelle reported income of $1.73 million last year, mostly from the books he’s written, according to his just-filed tax return. That was down from the $5.5 million of a year earlier.
The president, who has been campaigning to raise taxes on the wealthy, paid the government $453,770 in federal taxes, about a quarter of the income. Just last week, he renewed his push to end Bush-era tax cuts for households with annual incomes above $250,000 — noting that that would include him.
The Obama’s donated about $250,000 to charities, but one wonders- why not more? For what does Obama need money?
Thanks to the Bush tax cuts Obama saved an additional $100,000 in taxes.
WASHINGTON — President Obama banked a six-figure savings when he agreed to extend the Bush-era tax cuts last year, as he hauled in $1.73 million, the first family’s tax returns show.
Obama continued to earn big bucks last year, mainly through book royalties, according to tax returns released by the White House yesterday.
“I don’t need another tax cut,” Obama said last week.
But he sure got one. According to a tax calculator provided by the Tax Foundation, the Obama family saved about $100,000 compared to what they would have paid if the president and Congress had let the Bush tax cuts expire.
The question is, why?
Why doesn’t the guy who wants it your wealth “spread around” spread his around even more. Moreover, why does the guy who doesn’t need the tax cut take the tax cut? Why doesn’t he willingly pay taxes at the rates he wants to impose on his fellow super-rich?
Could it be because he’s a stinking hypocrite?