NEW YORK (CNNMoney) – President Obama and the first family paid $453,770 in federal taxes on an adjusted gross income of $1,728,096 in 2010, the White House said Monday.
The president earns a salary of $400,000 for his day job, and also took home quite a hefty paycheck because his books - "The Audacity of Hope," "Dreams From My Father" and "Of Thee I Sing: A Letter to My Daughters" - continue to register strong sales.
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And people call him a socialists....Yeah right. They sound like full fledge capitalists to me...
"The Audacity of Hope," "Dreams From My Father" and "Of Thee I Sing: A Letter to My Daughters" – continue to register strong sales.
Did you hear that haters? Our president continues to stand STRONG and he will be reelected for a second term IF we all show up to vote. Go Mr. President!
As a father of a 2 month old little girl, and a supporter of the president, I simply HAD to purchase his children's book, 'Of Thee I Sing'. This president is intelligent, disciplined, thoughtful and a real man-of-our-time. Can't wait to vote for him, again, in 2012!
That's not enough...they need to pay more in taxes.
Of the President is willing to pay more in taxes, I don;t see why every other millionaire do so as well.
Good for him – glad to see people are buying books written by intelligent, articulate, thoughtful person.
thats only ~27%..and all healthcare and travel gets charged to the company. Not a bad gig!
Dang! He needs to fire his accountant. With all the loopholes and offshore trickery available to people in his bracket, he should be able to get that down to half of what he paid.
At least he pays taxes, which is more than can be said about a lot of Repugs.
Let's see – that comes out to about 26%................kind of a small percentage when you look at it for all those earning. Shouldn't he be paying at least 40 or 50%? At least that is what he keeps saying that "rich people" need to be paying their share and more.
IndianaIndependent
he's willing to pay more, try to keep up
"$453,770 in federal taxes on an adjusted gross income of $1,728,096 ". That's a lot of taxes. Who says the wealthy don't pay their fair share.
CEO of the USA makes $400,000, rediculously below a CEO of most mid-size (forget big ones), even if your company fail miserably. For all the constant and unfair BS this man take day in day out from REPugs, this is pathatic. Your lagacy will live on Mr. President, NOT like made up, re-written history of Ragan, who I admire but not as a God as Repugs are making him out to be.
IndianaIndependent - You are quoting a tax rate that is averaged over the entirety of income. But not all income is taxed at the same rate. Raising taxes on the rich would only apply to money earned above 250K or 1 million or some other bracket. You can't just say "X taxes paid on X income = rate". Although your comment doesn't say so explicitly, it's clear you don't understand the basic principle of how our tax system works. Nevermind that exemptions and refunds can reduce your overall tax burden without affecting your taxed RATE.
Sounds like he's one of those who he talks about making too much. And who are the bozo's that buy his book?
Remember folks, that's an "effective" tax rate of 27%. Don't confuse that with the "marginal" rate you hear about in the political news all of the time. Most of us pay at an effective rate of 10% or less, and 45% don't pay anything at all. More than 2/3 of federal income tax is paid by the top 1% income earners.
No wonder we can't control spending. If we all had to feel the same amount of pain and nobody got a free ride, we'd demand that the government balance its budget. All of that spending is great if you don't have to pay for much or any of it.
why not GE paid????? then...I paid, POTUS paid...why not GE, Chevy..etc.,