Another hypocrisy alert from the Obama Regime.
In this case, the Obama Regime is saying, “More taxes for thee but not for me.”
What is going on?
Barack and Michelle Obama, who think real Americans should be paying more taxes, took advantage of every deduction and tax break they could.
From CNS News:
If the Bush tax cuts hadn’t been extended and the president hadn’t chosen to employ those tax breaks he despises so much, Pres. Obama could’ve paid $103,067 more in taxes than he actually did for 2011. And, with the help of a government website, he could still pay it, anyway.
The White House reported today that the Obamas has adjusted gross income (AGI) of $789,674 in 2011, on which they paid $162,074 in federal taxes. That works out to a tax rate of 20.5% of AGI.
Without using any type of credits to reduce the taxes paid on their AGI, at the current rate, that would make the Obamas’ tax liability $246,257:
$102,574 + 35.0% of anything over 379,150:
$789,674 - $379,150 = $410,524
$410,524 X 35% = $143,683
$143,683 + $102,574 = $246,257
But, the Obamas actually paid $162,074. If they’d paid the full amount, they’d have paid $84,183:
$246,257 - $162,074 = $84,183 more in tax
And, if the Bush tax cuts hadn’t been extended, the Obamas could’ve paid $103,067 more (without taking credits).
In summary, the Obamas are just like liberals everywhere. They want other people to be taxed but they don’t want to pay the taxes themselves.
Warren Buffett is the same way. He keeps chortling about how we real Americans need to pay more taxes and even lends his name to the idiotic proposition called the “Buffett Rule” that would require millionaires to pay 30% of their already taxed income in even more taxes.
Buffett’s company, Berkshire Hathaway has been fighting the IRS for ten years over a $1 billion tax bill.
Mr. Buffett, pay your taxes. If you think the government needs more tax money, pay your taxes. Go pay your taxes so the government can let GSA employees stay in $2000 a night rooms while they party in Las Vegas or send them on five day trips to Hawaii so they can do one hour worth of work.
The Obamas and Warren Buffett can pay more if they want. They do not have to take deductions and they can even voluntarily give money to the government.
They don’t because they are hypocrites.
The next time we hear Obama talk about someone paying their fair share of taxes, we should all say, “Barry why don’t you pay your fair share?”
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