Category Archives: income tax

Obamas Paid 18.4% Federal Tax Rate as Income Declined in 2012

obama biden vacations
I’m so sad for the poor Obamas. Their income has declined to the point where they don’t have to pay as much income tax as everyone else. It’s amazing how certain huge corporations and some very well off people don’t really have to pay as much as most Americans are now paying. Everyone else sees their income tax going up… Everyone from the poverty line on up is paying more in taxes, but not Obama, apparently. This is my argument the IRS and income tax in general… IRS taxes are unconstitutionally extracted from the citizens and then squandered on programs that are detrimental to society, but even if you could get past that, the IRS code is structured to be inherently unfair.
Richard Rubin, ©2013 Bloomberg News

April 13 (Bloomberg) — President Barack Obama and first lady Michelle Obama earned $608,611 in adjusted gross income in 2012, down 23 percent from 2011 as royalties from the president’s books kept declining, tax returns showed.

Obama and his wife paid $112,214 in federal income taxes, according to the returns released yesterday, for an 18.4 percent rate. That’s less than the 20.5 percent rate they paid the year before.

While still making more than 10 times the U.S. median income, they made less money in 2012 than in any year since 2004, when Obama — then a state legislator — was running for the U.S. Senate in Illinois and started attracting national attention.

By taking widely used deductions for state and local taxes, mortgage interest and charitable contributions, the Obamas were able to get themselves out of the top marginal tax bracket, which was 35 percent last year.

“Obama’s returns are very sanitized,” said Steven Bankler, a certified public accountant in San Antonio, Texas, who has analyzed previous presidential tax returns. That’s because the president is a “very, very conservative” investor, mainly putting his money in U.S. government bonds.

In 2012, the Obamas made $150,034 in charitable contributions and paid $45,046 in mortgage interest on their home in Chicago.

Fisher House

Their largest charitable contribution — $103,871 — went to the Fisher House Foundation, which assists military families. They also donated money to the American Red Cross, the National AIDS Fund, the University of Hawaii Foundation and Washington’s Sidwell Friends School, which their daughters attend.In 2012 returns released for Vice President Joseph Biden and his wife, Jill, showed they had $385,072 in adjusted gross income and paid $87,851 in federal taxes for a 22.8 percent rate.

The Bidens donated $7,190 to charity.

The Obamas reported paying $29,450 in Illinois income taxes.

Households making between $500,000 and $1 million paid an average federal income tax rate of 20.6 percent in 2012, according to the nonpartisan Tax Policy Center. That’s not a perfect comparison to the Obamas’ 18.4 percent rate, in part because some of their federal taxes are payroll taxes on income from book sales. Obama’s salary as president is $400,000.

 

Business Income

The president’s book earnings have declined during his time in office. This year, the Obamas reported business income of $258,772, down from $441,369 in 2011 and $1.4 million in 2010.

obama biden vacationsThe Obamas’ adjusted gross income in 2012 was 11 percent of what they made in 2009, his first year in office and the peak of his income from two books, “Dreams from My Father” and “The Audacity of Hope.” In 2010 he published a book aimed at children, “Of Thee I Sing: A Letter to My Daughters.”

The tax increases on top earners that Obama signed into law in January take effect for tax year 2013 and some of them may make the president pay a higher rate when he files next year. So will the health-care law he signed in 2010, which included tax increases that took effect this year.

Obama would also pay more in taxes if the budget he proposed this week is passed by Congress. He called for limiting the value of itemized deductions and other tax breaks of top earners to the value they would get if they were in the 28 percent tax bracket, which ends at $223,050 of taxable income for married couples.

The Obamas’ taxable income was $335,026.

 

‘Pay More’

“Under the president’s own tax proposals, including limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it,” Jay Carney, the White House press secretary, said in a statement on the White House website.

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Actor Wesley Snipes Free After 3 Years in a Government Cage For Refusing to be Mugged by the IRS

Wesley snipes tax evasion parole

It is as though our ability to think critically and logically in the United States has been seriously impaired by the relentless and incessant brainwashing that constantly surrounds us in the form of media, news, propaganda and politics. For an institution that was unconstitutional to begin with, most Americans have accepted the IRS and income tax as legitimate.

What’s wrong with income tax? Everything. It is a punishment for being productive by earning money for one thing. For another thing it is an excuse for the federal government to make you account for many personal details of your life that are really no ones business but your own. It is money that is generally squandered by an irresponsible government and most of it ends up being shuffled to other countries for their benefit.

So let me get this straight…

  • we are forced to pay our government a percent of our earnings that we work for so that our government can

… and society is generally OK with that?

Actor Wesley Snipes Free After 3 Years in a Government Cage For Refusing to be Mugged

By JG Vibes
Intellihub.com
April 7, 2013

After spending 3 years in a government cage for refusing to have his money stolen by the government, actor Wesley Snipes is now somewhat free.  Unfortunately, he is still under constant supervision and the government continues to treat him like a criminal, simply because he refused to be criminalized.

CNN reported:

“Actor Wesley Snipes has been released from a federal prison where he was serving a three-year sentence after being convicted on tax charges in February 2010.The release to a supervised residential location in New York occurred Tuesday, the Federal Bureau of Prisons told CNN.

Snipes, 50, who starred in the “Blade” action movies and “White Men Can’t Jump,” had been serving time at a federal prison in Pennsylvania. A jury convicted him of willfully failing to file tax returns for 1999, 2000 and 2001. Snipes was acquitted of felony tax fraud and conspiracy charges.  In June 2011, the U.S. Supreme Court refused to hear an appeal of his sentence, which he had argued was too harsh for a misdemeanor conviction.”

Some people would point out that Wesley Snipes had plenty of money, and that he could have easily handed over his extortion fee and still be able to eat.  However, if a wealthy man was walking down the street and was attacked by a mugger, would people still carry that same perception?  Would everyone condemn this person for attempting to stand up against his mugger?  Because Wesley Snipes, and every other person who is forced to fill out a tax form, is by principle a victim of theft.

Wesley snipes tax evasion paroleThanks to a lifetime of propaganda, people will argue relentlessly that taxation is not an act of violence, they will deny that it perpetuates a complicated form of slavery, and many times get deeply offended when you point out the fact that it is theft.

Yet, peaceful people are taken against their will and thrown in cages every day for not paying taxes. If this action was not carried by the state, everyone would recognize it as a violent kidnapping.  Whats worse is the fact that if any of these people made any attempts to defend themselves on their own property as they would against any other intruder, they would have been killed and treated as if they were the aggressor.

As we reported a few months ago, this year in Italy alone around 12,000 people had armed government workers trespass on their property, take them against their will and lock them up in a cage.

As far as Wesley Snipes is concerned, he should have a warm welcoming back on the outside, and be greeted as a hero.

http://intellihub.com/2013/04/07/actor-wesley-snipes-free-after-3-years-in-a-government-cage-for-refusing-to-be-mugged/

 

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