Resolved: No American citizen shall be required to pay federal income taxes at a rate
higher than the country’s millionaire president pays.
higher than the country’s millionaire president pays.Let’s call it the Alternative Maximum Fairness Tax: Calculate your current tax rate, compare it to the president’s and pay the lower of the two.
The White House admitted in a Friday afternoon news dump, of course that President Obama paid only an 18.4 percent effective federal income tax rate on his adjusted gross income last year of $608,611. The highest income-tax rate last year was 35 percent (and has now increased to 39.6 percent, thanks to the fiscal cliff tax hike). Once again, the president piously demanded that “the wealthiest Americans should pay their fair share” and yet, in the very same paragraph, the multimillionaire president admitted to paying less than half the standard rate for his income bracket.
that President Obama paid only an 18.4 percent effective federal income tax rate on his adjusted gross income last year of $608,611. The highest income-tax rate last year was 35 percent (and has now increased to 39.6 percent, thanks to the fiscal cliff tax hike). Once again, the president piously demanded that “the wealthiest Americans should pay their fair share” and yet, in the very same paragraph, the multimillionaire president admitted to paying less than half the standard rate for his income bracket.If that weren’t enough hypocrisy, Mr. Obama once again called for the so-called “Buffett Rule” of raising taxes on high earners at the same time that he admitted to breaking the rule by paying lower taxes than Warren Buffett’s secretary. This president then had the audacity to claim that he believes in “protecting families making under $250,000 from seeing their taxes go up.” I suppose the operative word there is “seeing.” President Obama is clearly fine with hiking your taxes so long as you don’t see it happen. That’s why he cleverly hid 20 separate tax hikes on families making under $250,000 inside Obamacare.
Read more: http://www.washingtontimes.com/news/2013/apr/17/the-1-percenter-who-doesnt-pay-his-fair-share-pres/#ixzz2Qjnj0nam
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