Oops: Obama Pays Lower Tax Rate Than His Secretary
One would think that after all Obama’s whining about the Buffett rule and class war, Obama would make sure that he paid a higher net tax rate than his secretary
(ABC News) President Obama today released his 2011 federal income tax, with he and his wife reporting an adjusted gross income of $789,674. The Obamas paid $162,074 in total tax — an effective federal income tax rate of 20.5%. The Obamas also reported donating approximately 22% of their income to charity – $172,130.
President Obama’s secretary, Anita Decker Breckenridge, makes $95,000 a year. White House spokeswoman Amy Brundage tells ABC News that Breckenridge “pays a slightly higher rate this year on her substantially lower income, which is exactly why we need to reform our tax code and ask the wealthiest to pay their fair share. ”
Or, Obama could simply write a check to the IRS so that his net effective rate was higher than his secretary.
What seems to be missed within this debate is that Obama paid substantially more in actual taxes than his secretary, regardless of the net percent. Furthermore, part of the reason is that he donate a goodly sum to charity, which the tax code incentivises earners, particularly high earners, to do.
Interestingly, Obama’s class warrior rhetoric would seem to be a perfect vehicle for implementing a some sort of fair tax or flat tax, or, at the least, creating a tiered tax system with very low rates and no deductions. But, what happens when there are no deductions, or, as Obama likes to call them, “expenditures in the tax code”? Will there be as many charitable donations?
Anyhow, he should write a check to the IRS to make his rate 35%, as the tax code states for those earning income over $379,150. Oh, and I love that he takes a deduction for being self employed.
Of course, the whole point in pushing the Buffett rule and other class warfare devises is to deflect from Obama’s pitiful record.
Oh, and isn’t it rather misogynistic to call Breckenridge his secretary, instead of “administrative assistant”?