That number is correct, by the way. One point eight million dollars in federal taxes. I’m not sure it’s possible for most people to understand just what that’s like, since the majority of us get steamed over a few grand (and rightly so, I suppose). But you don’t see Obama trying to fly planes into the IRS building, do you?
The bulk of the president’s income comes from the continuing sales of his books, Dreams From My Father and The Audacity of Hope, according to the White House statement.
The Obamas also reported paying $163,303 in Illinois state income taxes for 2009.
Last year, the Obamas paid $855,323 in federal income tax, as well as $77,883 in state income taxes. They reported an adjusted gross income of $2,656,902 for the year 2008, again mostly through book sales.
The reality that every Tea Partyer who earns less than $250,000 annually is receiving a tax cut of two percent seems to be obscured in the minds of many protesters. (Among the Tea Partyers, only 2 percent realize that during the administration taxes have decreased for most Americans — 44 percent believe taxes have gone up, according to a recent CBS News/New York Times poll.) Fortunately, a new coalition is determined to counter the confusion with the truth about “The Other 95%” of us who are happy we got a tax cut from Obama this year.
This is the idiocy I’m talking about.
Now there is a fair point to be made, which is that sure it’s great that Obama is dropping taxes on the lower chunks of our class spectrum, but he’s raising it on the higher; doesn’t that mean that Obama is punishing hard work and success? For that, to be honest, I just defer to that quote from Spider Man: With great power comes great responsibility. Any Americans who earn oodles of cash have done so thanks to the opportunities and structures of the United States, so it’s only fair to chip in and say thanks.
Enjoy your April 15th, folks.