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Why did Obama pay a lower tax rate than his secretary?
President Obama has been making a big political push for the “Buffett Rule,” which would require millionaires to pay a minimum of 30% of their income in taxes. To illustrate the point, the president has pointed out that billionaire investor Warren Buffett pays a lower tax rate than does his secretary.
Hmmm, so did Obama. Hypocritical?
BTY, not whining, pointing out facts. I did not say he did anything illegal. Neither did Buffet or Romney. But he is making an issue of their tax rates, isn't he?
7 Answers
- IcoulatorLv 79 years agoFavorite Answer
Congress writes the tax code. Which is why it is humorous for someone in Congress to be screaming about the, "unfair tax rate for the rich". Much like hitting yourself in the hand with a hammer, and then blaming not only the hammer, but the hammer's manufacturer. Believe there are loopholes in the idiotic income tax system? Just wait until Obamacare comes online, as there are lots of campaign contribution paybacks in that regulatory behemoth.
Work out the math and you will find that the hypothetical 'Buffet Rule' does nothing for federal revenues. The feds would make more from taxing the buffet line than they would in taxing the nation's Buffets.
- Texas MikeLv 79 years ago
We all have the same tax tables.
We all have the same deductions. All approved by Democrats and Republicans.
Some use them. Some don't.
A billionaires tax rate will probably be higher than his secretary. His taxable income could be less or zero. Taxable income is not the same as tax rate. Tax rate is a fixed number.
Source(s): irs.gov - Harold FellerLv 79 years ago
He's following the Buffet Rule For The Elite Ruling Class.
Us unwashed masses aren't privy to that.
- Anonymous9 years ago
Republicans have put trillions of dollars worth of tax loopholes for the wealthy to take advantage of, it's called welfare for the rich. The difference is our great President is actually trying to solve the problem. You're just whining.
- Anonymous9 years ago
He hired a shyster accountant.
- Anonymous9 years ago
because obama is a douchebag scumbag..
its very simple. hypocrite POS SCUM PRESIDENT!
SEND HIM TO MECCA!
