It’s Tax Day, and if you’re miffed and looking for a Tea Party Tax Day event [1] to join, perhaps you should first take a look at what the Obamas are paying in federal taxes. It might provide a bit of consolation.
According to the First Family’s 2010 tax return [2], the Obamas paid in excess of $450,000 in federal taxes—more than the President’s $400,000 salary. Much of the family’s income is from book sales, which slowed over the past year, causing their income to dip from $5.5 million in 2009 to $1.7 million last year. As the New York Times notes [3], the Obamas had a tax rate of just over 26 percent.
The Bidens earned about $379,000 in income [4] and paid $87,000 in federal taxes last year—a tax rate of about 23 percent.
That’s more than the average federal income tax rate, which, according to the Associated Press is 9.3 percent [5]. The AP also reported that the richest U.S. households—whose income is officially taxed at 35 percent—paid a tax rate of about 17 percent after factoring in lucrative tax breaks.
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look at the returns
ReplyDeletemichele obama lists her job as us first lady, bidens wife lists her job as teacher
when did first lady become a job as opposed to a title?
Glad to know both the Obamas and the Bidens pay their fair share.
ReplyDeleteThat's a lot more that can be said about most politicians.