Why did millionaire author Barack Hussein Obama pay a 26% tax rate when Warren Buffet's secretary pays 30%?

Because President Obama isn't as rich as Mitt Romney and can't qualify for his special 14% tax rate.

Edit: Charitable donations and other exemptions. If it's fair for Mitt Romney to pay an effective rate of 14%, even less than the capital gains tax rate, then why isn't it fair for Obama to pay a 26% effective rate?

Well if an author or corporation should be paying 35% but aren't paying 35% then how can 35% be the highest corporate tax rate in the world? If no one pays it?

My ex boss is a millionaire. But he earns $200,000 per year and is taxed on that rate and it took time to save the million. He didn't earn the million all at once.

The bad thing with percentages is it's never very clear as to a percentage of what. What was the gross before deductions. Gross less deductions is the amount the percentage will be applied to.

With taxes you are taxed on your earnings not net worth and even than it's a question of how was it earned. Capital gains is taxed at a lower rate than than earnings from a job. CEO's and such are paid in stock and therefore taxed at the lower capital gains rate. Not the regular employment tax rate. They can also delay exercising the options to a point when it's favorable. Try doing that with your paycheck.

That is how a couple earning $100,000 per year can pay $25,000 in taxes but a guy earning a million in a year in capital gains can pay only $75,000 in taxes. That's 10 times the money but only 3 times the tax. An effective rate of 7.5% for the million dollar guy versus 25% for the couple. That's the problem and why Buffet's secretary pays more tax than her boss.

There are things call deductions. Such as kids, charities, pretax investments and so on and so on.

Look at a persons over all tax rate with out knowing all the details is about as smart and drinking random liquid off the shelf with out reading what it is First....because hey its a liquid so you should be able to drink it right?

Also why are you whining about Obama rate when Mitt pays only 15% where is the outrage over that?

This is a made up issue, if you really understood what was going on and not so focused and hating Obama for what ever reasons fox news has come up with this week.... You would have real things to talk about....because there are a lot of REAL issues about Obama that need to be raised....this how ever is not one of them and distracts from those issues.

Obama then paid 8% more than your boy Romney. Obama has also only been a millionaire for 3 years.

Source? Link?

Who is this "she" you are referring to?

Because of tax loopholes created by Republican lawmakers when they were busy ensuring tax breaks for the wealthy.

Because the tax system is severely screwed up.

Because Obama sheeple

are knee jerk reactionaries

that hate reality and facts

Because rich people can afford good CPA's.