DJ White House: Obamas Report $1.7M Adjusted Gross Income For 2010

[The-Noid]

*DJ White House: Obamas Report $1.7M Adjusted Gross Income For 2010
*DJ White House: Obamas Paid $453,770 In Total Federal Tax
*DJ White House: Obamas Donated $245,075 To 36 Charities
*DJ White House: Obamas' Largest Donation, $131,075, Went To Fisher House Foundation


Well at least his tax rate was high.

 

[sunzt]

that's a 26.7% effective rate... not bad for a millionaire

 

[spidey07]

Did he write a check to the IRS since he feels his class should pay their fair share? I won't hold my breath.

 

[thraashman]

Did he write a check to the IRS since he feels his class should pay their fair share? I won't hold my breath.

Well from the number shown, it looks like Obama did pay his fair share and that unlike many in his income bracket, he didn't exploit loopholes to underpay taxes. In addition he also gave to actual charities and not just political action committees pretending to be charities.

 

[sunzt]

Did he write a check to the IRS since he feels his class should pay their fair share? I won't hold my breath.

well he did pretty much give away 48.9% of his AGI to gov and charities, with over half of it going to gov... that's a pretty good fair share.... how much do you think is fair?

 

[her209]

Did he write a check to the IRS since he feels his class should pay their fair share? I won't hold my breath.

Obama is middle class.

:awe:

 

[spidey07]

well he did pretty much give away 48.9% of his AGI to gov and charities, with over half of it going to gov... that's a pretty good fair share.... how much do you think is fair?

Umm, AGI is AFTER donations. That's why it's called adjusted. He made at least 1.945M gross. So actuall taxes, including donations is 245k+453k/1.945M=35% went to taxes and charities. 23% for taxes.

If you look at many of the tax payers Obama attacks they pay the same, there are no magic loopholes in the 250-600K range, only rapage. Since he's been going on about shared sacrifice, where's his? I assume he cut a check to the IRS? Or was he evil and kept the money?

 

[fskimospy]

Umm, AGI is AFTER donations. That's why it's called adjusted. He made at least 1.945M gross. So actuall taxes, including donations is 245k+453k/1.945M=35% went to taxes and charities. 23% for taxes.

If you look at many of the tax payers Obama attacks they pay the same, there are no magic loopholes in the 250-600K range, only rapage. Since he's been going on about shared sacrifice, where's his? I assume he cut a check to the IRS? Or was he evil and kept the money?

God you're dumb. You can't even remain internally consistent.

You're talking about shared sacrifice and then asking where his non shared sacrifice is.

 

[spidey07]

God you're dumb. You can't even remain internally consistent.

You're talking about shared sacrifice and then asking where his non shared sacrifice is.

I assume he wrote a check to the IRS for his sacrifice? Not claim certain deductions he's calling to end, for his sacrifice? How about lopping another 6% off his income past 107K and have all of that go to social security for his sacrifice?

I assume he did all of this and more, for Obama is a wise and noble leader who would only lead by example!

FBHO

 

[dullard]

Did he write a check to the IRS since he feels his class should pay their fair share? I won't hold my breath.

You should never violate the rules of the game even if you don't agree with them. This is true even if the violation helps or harms your cause.

For example, just because you might not like a rule in a certain sport, you don't give your opponents points right off the bat. You don't give the Yankees 3 points since you think the player's salaries are unfair. You don't give Danica Patrick 2 laps lead since you think NASCAR is unfair to women. You don't give the Giants a touchdown since you think the kickoff location should be moved 5 yards. No, you play by the rules while trying to fix them for next year.

Same with taxes. It is a morons game to not play exactly by the rules, even if you think the rules are broken. No one person can make a dent in the debt on their own. Thus doing what you say would be a moron's task. Which is why you demand it of democrats (since you want to make them morons). They don't bite on ideas that stupid. The only way to solve the revenue problem is to get millions of people paying more. Just writing one check from one person would do nothing signficant. Obama will gladly pay more taxes, but only if the rest of us join him. That is the key word "shared" sacrifice.

 

[Fear No Evil]

He should probably not take those deductions for charity. Thats money that could have been better spent by a government bureaucrat.

 

[dullard]

Umm, AGI is AFTER donations. That's why it's called adjusted. He made at least 1.945M gross. So actuall taxes, including donations is 245k+453k/1.945M=35% went to taxes and charities. 23% for taxes.

Why even try arguing on taxes when you have no clue what you are talking about?

Form 1040, look at line 38 and 40.

Line 38 is the AGI. Line 40 (after line 38) is where donations come in. AGI is NOT after donations like you seem to think.

What you are talking about is line 43: taxable income which is income after deductions.

 

[spidey07]

He should probably not take those deductions for charity. Thats money that could have been better spent by a government bureaucrat.

Obama is for eliminating charitable deductions. See how wise and noble he is? He's going to stick it to those rich fat cats, and how! He only donated for the good of the children and by no means trying to get below a specific AGI for tax purposes. People that deduct charitable contributions are rich and mean and doo doo heads. Nope, that couldn't be it. For he is a wise and noble Obama.

FBHO

 

[EagleKeeper]

Umm, AGI is AFTER donations. That's why it's called adjusted. He made at least 1.945M gross. So actuall taxes, including donations is 245k+453k/1.945M=35% went to taxes and charities. 23% for taxes.

If you look at many of the tax payers Obama attacks they pay the same, there are no magic loopholes in the 250-600K range, only rapage. Since he's been going on about shared sacrifice, where's his? I assume he cut a check to the IRS? Or was he evil and kept the money?

AGI is not after donations.

the AGI is the first line on the second page of the 1040.

the first page is where all income and adjustments are made for reported income/losses/401K.

Donations come uder the Schedule A which is a line entry on the second page of the 1040

 

[spidey07]

AGI is not after donations.

the AGI is the first line on the second page of the 1040.

the first page is where all income and adjustments are made for reported income/losses/401K.

Donations come uder the Schedule A which is a line entry on the second page of the 1040

My bad. I always equated AGI as after all itemized deductions.

 

[thraashman]

AGI is not after donations.

the AGI is the first line on the second page of the 1040.

the first page is where all income and adjustments are made for reported income/losses/401K.

Donations come uder the Schedule A which is a line entry on the second page of the 1040

There's really no point in proving facts to Spidey. His mind won't let him see those facts because if he's wrong about one thing he could be wrong about others. And considering how often he gets proven wrong on these forums ... Is it possible to be wrong so often that you're wrong even when you don't say anything, because that might just be Spidey.

 

[sunzt]

Why even try arguing on taxes when you have no clue what you are talking about?

Form 1040, look at line 38 and 40.

Line 38 is the AGI. Line 40 (after line 38) is where donations come in. AGI is NOT after donations like you seem to think.

What you are talking about is line 43: taxable income which is income after deductions.

Shhh!! i wanted to see what other fictitious statements would have come outa him

 

[JulesMaximus]

Obama is middle class.

:awe:

And I'm clearly rich because my wife and I paid almost $23,000 in Federal income tax last year...

 

[jonks]

"With a salary like that it's no wonder we can't find anyone qualified to do the job. You want the best you gotta pay for it." - Any Random CEO

 

[classy]

My bad. I always equated AGI as after all itemized deductions.

LOL What a maroon................

 

[classy]

Last year OB and his old lady made 5.5 million................

 

[PeshakJang]

~$1.984 million total income, per his return.

About $820,000 in foreign income, $610,000 of which is taxable, and which also gives him a $22,000 foreign tax credit to be applied to his US return. For some reason he had a $20,000 home mortgage interest deduction on his foreign income?

$185,000 deduction in business/profession expenses

$1.382 million in self-employment income, all from his books (Payments from Random House, and DGLM, his agent)

 

[Pens1566]

Umm, AGI is AFTER donations. That's why it's called adjusted. He made at least 1.945M gross. So actuall taxes, including donations is 245k+453k/1.945M=35% went to taxes and charities. 23% for taxes.

If you look at many of the tax payers Obama attacks they pay the same, there are no magic loopholes in the 250-600K range, only rapage. Since he's been going on about shared sacrifice, where's his? I assume he cut a check to the IRS? Or was he evil and kept the money?

#NotIntendedToBeAFactualStatement

 

[wayliff]

#NotIntendedToBeAFactualStatement

priceless...

 

[Throckmorton]

Spidey, where's my deduction? I donated $300 to charity last year and didn't get any deductions for it!!