Obama Pays ONLY20% of His Income

It is easy to say that others should pay more tax, when it will not effect you. That is the way the Obama's roll.  Asking the millionaires to pay more taxes would look less hypocritical if you had to pay. For example, when Buffet says so, he has credibility as it will increase his taxes. However, as we see in the following post, the "dictator" did not earn enough to have the honor of increasing their annual contribution to the budget.

There is one bright spot in the return. The Obama's did increase their charitable contributions. We congratulate them. If only their Vice President would do the same!

So when the President wants to dictate that others pay more in taxes, why does he not lead by example. Why did he not pay an additional $50,000 (or $70,000 or $100,000) in taxes? Would that not show the rest of the country that he was a leader?  Besides, he gets free room and board, free air and ground travel, free protection and only spends money on occasional items. He has the best deal ever!  So having a few less dollars would really send a great message and it would not really hurt him.

So that is our opinion--what is yours?

Conservative Tom

President Barack Obama and his wife, Michelle, paid a 20.5 percent federal tax rate on $789,674 in adjusted gross income for 2011, according to tax returns released today by the White House.

The Obamas’ income dropped from $1.7 million in 2010 and $5.5 million in 2009. Obama, who earns a $400,000 annual salary as president, received most of the rest of his 2011 income from sales of his books.

Because they earned less than $1 million in 2011, the Obamas wouldn’t be subject to the Buffett rule, the proposed minimum tax on high earners the president has been pushing for in his re-election campaign.

“Under the president’s own tax proposals, including the expiration of the high-income tax cuts and limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it,” Jay Carney, the White House press secretary, said in a blog post today.

The federal tax filing deadline this year is April 17.

Vice President Joseph Biden and his wife, Jill, reported paying $87,900 in taxes on $379,035 in adjusted gross income for a 23.2 percent rate. The White House also released their returns today.

Republican presidential candidate Mitt Romney, a former Massachusetts governor, released an estimated 2011 tax return earlier this year. His final 2011 return will be released when it is filed, spokeswoman Andrea Saul said in an e-mail.