As we all get finished with our taxes so do the President and First Lady. It turns out that the Obama’s came in with a 20.5% tax rate on income of $789,674 (married filing jointly), including donations worth $172,130.
The bulk of that income came from presidential salaries, $394,821, and book sales, $441,369.
In 2010, their income was $1.7 million with the increase due to book sales, and in 2009, it was more than $5.5 million from book sales and Barack’s Nobel Peace Prize award money.
In comparison, Mitt Romney pulled in an estimated $20.9 million in 2011, and is paying a %15.3 tax rate on that. It seems that both our politicians are paying lower rates than average Americans.
Continue reading We all pay taxes – Barack & Michelle made $800k, donated $170k, & paid $160k in taxes
The debate goes much deeper than who received money, but these numbers are still important:
In a 51-47 vote, 43 Senate Republicans and four Democrats filibustered to protect $24 billion in tax breaks for Big Oil. Although a majority voted for Sen. Robert Menendez’s (D-NJ) bill, it fell short of the 60 needed. The only two Republicans to break rank were Sen. Susan Collins (R-ME) and retiring Sen. Olympia Snowe (R-ME).
A Think Progress Green analysis shows:
- The 47 senators voting against the bill have received $23,582,500 in career contributions from oil and gas. The 51 senators voting to repeal oil tax breaks have received $5,873,600.
Democrats who joined the Republicans in defeating the bill include Sens. Mary Landrieu (D-LA), Ben Nelson (D-NE), Mark Begich (D-AK), and Jim Webb (D-VA).
The oil industry also spent over $146,000,000 on lobbying last year.
55 percent of Americans want to see the subsidies stopped.
via Think Progress Green
Thx to Justin Bacon