But that’s okay. He didn’t make a million dollars. Only millionaires should be subject to Obama’s confounded view of taxation. President Obama made $789,674 dollars in 2011; clearly less than the $1 million target that he’s aiming for. Keith Koffler breaks down the hypocrisy.
President Obama paid a total federal tax rate in 2011 on adjusted income of $789,674 that may be lower than that of his secretary, even though she earned substantially less.
Obama has spent the past week touting the Buffett Rule, which calls on those who make $1 million – just a little more than Obama made – to pay at federal tax rate of at least 30 percent. The rule was inspired by Buffett’s comment that he paid a lower tax rate than his secretary.
The most recent information about salary regarding Obama’s secretary is for his former secretary, Katie Johnson, who is listed by the White House as having made $90,000 in 2010.
According to Wikipedia, Johnson is 31 years old and now attends Harvard Law School. I don’t know about her personal life or what her deductions would be, so I can’t assume any children or extra deductions.
On a $90,000 salary, she would pay $16,578 in federal taxes, $3,780 to Social Security, and $1,305 in Medicare taxes.
That adds up to a total federal tax burden of $21,663 on $90,000 in adjusted gross income, or a tax rate of 24 percent.
Koffler adds that Obama effectively paid an almost 22% rate. A little over 2 percentage points less than his secretary. Maybe he should change the Buffett Rule to the Obama Rule. Or better yet, maybe he should just drop the whole thing before the average American out there finally wakes up and figures out that he’s nothing more than a hypocritical socialist who is determined to knock this country down to size.
Obama needs to pay his “fair share” dammit.