DawgTalkers.net Forums DawgTalk Everything Else... President Obama's 2012 tax rate

Perks for Ruling Class Minions: Obama’s Sweetheart Tax Rate


Confiscatory taxation is routinely at a lower rate for faithful servants of the global elite

Infowars.com
April 13, 2013

Obama paid a lower tax rate than many Americans last year, a fact that underscores his call for wealthy Americans to pay their “fair share” is little more than flimsy rhetoric designed to appeal to his zombie-like Democrat base and other clueless supporters who actually believe he will sock it to the Man.

“President Barack Obama and First Lady Michelle Obama paid $112,214 in federal income taxes in 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said Friday,” the Wall Street Journal reports.

The release of [Obama's] 2012 tax returns comes as the debate over what level of taxes the wealthy should pay shows signs of heating up again as the president makes another push for a “grand bargain” on deficit reduction. Democrats believe any deficit-reduction package would have to include significant new federal revenues from increased taxes on wealthy people.

Confiscatory taxation is routinely at a lower rate for faithful servants of the global elite. In addition to a lowered tax rate for Obama and his wife, Mitt Romney, Timothy Geithner, Obama’s executive office staff, and choice others get sweetheart deals with the IRS as a matter of course.

Mega-corporations and bankster institutions usually pay little or no taxes because – as Leona Helmsley infamously declared – only the little people pay taxes. General Electric, Citigroup and other large corporations simply move money offshore to avoid paying taxes. Congress naturally assists in this serial effort to avoid paying what the rest of us are forced to cough up at gunpoint.

It should be obvious by now the little people are sheared to make up for what the banksters and mega-corporations don’t pay in taxes. A prime example of this was the so-called Fiscal Cliff scam the political class careerists ran on us a few weeks ago.

Tim Carney wrote back in January:

The “fiscal cliff” legislation passed this week included $76 billion in special-interest tax credits for the likes of General Electric, Hollywood and even Captain Morgan. But these subsidies weren’t the fruit of eleventh-hour lobbying conducted on the cliff’s edge — they were crafted back in August in a Senate committee, and they sat dormant until the White House reportedly insisted on them this week.

Thanks to former Clinton administration hustlers on K Street and other so-called lobbyists, financial clients like Citi, Goldman Sachs and Morgan Stanley and others enjoy slick tax avoidance schemes every year.

Obama’s sweetheart tax rate is window on a larger and more rapacious scam – the mega-rich, the banksters and transnational corporations not only believe taxes are for little people but when they fail due to bad bets, malfeasance and outright criminality they insist it is our duty to bail them out.

Of course, it also stands to reason that when they are caught breaking the law they are also too big to prosecute, as America’s top cop, Eric Holder, said a few weeks ago.


This article was posted: Saturday, April 13, 2013 at 5:06 pm

http://www.infowars.com/perks-for-ruling-class-minions-obamas-sweetheart-tax-rate/

I wrote checks to the IRS and the State of Ohio yesterday, and I'm in no mood to blame anyone for paying the least amount they legally can. As if writing checks totaling more than $700 wasn't enough, they now require that you include a voucher form that is not part of either the federal or state form packets, instead directing you to their websites to download and print the vouchers. It just so happens that my printer is not working right now. So now I get to make a separate trip to the library and hope they have copies of Federal form 1040-V and State form IT-1040-P. YAARGH!

Thanks so much IRS! You too Ohio Treasury Dept! I thought you people worked for us, but NO-OO-OO!

/rant

Lol, 18.4%. Last two years I paid 12.5ish% on a six figure income using the super-secret ultra-rich loophole called TurboTax.

What's the point of this?

The key words are... legally can.

With enough money you can get the tax law changed to favor you or your corporation.

I would love to see a simpler tax code and a corporate AMT.

You can't do favors with a simple tax code ..... and no favors = no need for most people to donate to campaigns.

I wonder if we will ever see the tax code rewritten in our lifetime? Seems to me the politicians won't even address loopholes.

If you're paying a higher tax rate on your AGI than 18.4%, you're doing it wrong.

the big deal is Obama is the one saying the rich need to pay their fair share. Did Obama pay his fair share? Doesn't look like it.

Do as I say, not as I do, that is Obama's way.

Not sure what rate he should have paid, but if he did anything illegal he needs to answer for it. I've heard him and others say that they themselves should be taxed at a higher rate than people making a living wage.

Either way 18% is a crap ton more different than paying nothing AND getting subsidies.

I guess you have to put me in with the, "I don't get the big deal here" crowd.

They gave away 25% of their income. Most of their deductions were accrued through charity loopholes.

The only problem I have with this is that Obama blasted Romney for his 14% fairly often on the campaign trail, as if Romney was doing something nefarious.

In that regard, he deserves to be knocked.

But overall ... there's really nothing surprising about this.

10-20% is what people who make that kind of money generally pay in taxes. I never understand why people cite 35% like anyone actually pays that. If you do, it's your own fault.

At this point, our government is so bastardized that I wonder if tax debates are really even worth it. The idea behind tax rates is that they fund the government.

Who wants to fund this government?