And yet, Mr Obama reported an income of $1.73 million dollars for 2010.
Despite that, his refund is $12,334.00.
Note:
Obama paid taxes at lowered Bush-era rates even as he campaigns to end them for wealthier Americans.
I wonder: will he write a check for the refund amount back to the federal government?
Yeah; I didn’t think so either.
BZ
P.S.
Meanwhile, back at the ranch, Standard & Poor’s reported:
“NEW YORK (CNNMoney) — Standard & Poor’s lowered its outlook for the nation’s long-term debt Monday, based on the uncertain political debate around the nation’s fiscal problems.
The outlook means that there is a one-in-three likelihood that it could lower the long-term rating on the United States within two years, S&P said.
So, clearly, it’s time to raise taxes for only the wealthy. During a recession. And whilst we print money at an unprecedented rate. That’s YOU, Mr Obama: “the wealthy.”
I think a consumption tax would be great. Something that is fair to everyone. Seems the Fair Tax and the Flat Tax ideas didn’t get anywhere in spite of all the Americans that were in favor of them.
Debbie
Right Truth
http://www.righttruth.typepad.com
Fancy that! Obama has a worth of between $5 and $10 MILLION and he risks almost $2 million keeping his records slammed shut, right?
Hey, maybe that’s a write-off? 🙂
Debbie, the ONLY fair income tax is a flat tax. Everyone pays the SAME percentile no matter their income. No deductions, for anyone, for anything. Period.
Z: don’t laugh. I’d wager it IS deductible on some page of the voluminous tax code.
The tax code should be ELIMINATED COMPLETELY. Thusly, you would ELIMINATE much of the federal sector dealing with taxes, thusly saving millions — I’d wager — billions of dollars. We’d also eliminate the Tax Industrial Complex, where another series of billions of dollars disappear each year for preparers, analysts, auditors, etc.
NEW TAX FORM:
You made $____________ in 2010.
Send in 25%.
Enter amount here: ____________.
Sincerely,
IRS
And then END all the extraneous bullshit, deductions, waffling, INTERPRETATION, and ATTORNEYS required.
BZ
I’m with Debbie.
I like the “Fair Tax” idea, and think you would too BZ, if you knew more about it.
boortz.com