Rich People really do pay taxes.

  1. MikeNV profile image80
    MikeNVposted 8 years ago

    This hit the newspress today.

    Look at how much Tax Obama and Biden paid.  They are rich and they pay a whole lot of TAX!  And so do almost all rich people.  Sure there are those that use corporate loopholes, offshore sheltering, etc.

    But people who think the "Rich" are not paying their fair share are clearly mistaken.

    Obamas: $5.5 million income, $1.8 million tax bill

    WASHINGTON – Thanks to revived book sales after he became president, Barack Obama and his wife, Michelle, made $5.5 million last year. They paid about one-third of it in federal income taxes.

    The Obamas gave $329,100 to charities in 2009. The president, who released his tax returns Thursday, also donated his entire $1.4 million Nobel Peace Prize award to 10 charitable groups. He never received the $1.4 million, and it was not included in his 2009 income.

    The Obamas paid nearly $1.8 million in federal income tax last year, and $163,303 in Illinois income tax. Among their charitable gifts were $50,000 each to CARE and the United Negro College Fund.

    Vice President Joe Biden and his wife, Jill, had far more modest earnings. They reported an adjusted gross income of $333,182 for 2009. They paid $71,147 in federal income taxes, $12,420 in Delaware income taxes and $1,477 in Virginia income taxes, where Jill Biden works as a college professor.

    The Bidens gave $4,820 to charity, in cash and in-kind donations.

  2. William R. Wilson profile image60
    William R. Wilsonposted 8 years ago

    Maybe the thread title should be, some rich people pay taxes, others don't.  Check this out:

    http://www.forbes.com/2010/04/01/ge-exx … taxes.html

 
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