Friday, April 13, 2012

Obamas Tax Rate

Obamas' 20.5% Tax Rate Is Lower Than His Secretary's

Friday, 13 Apr 2012 04:43 PM
By Henry J. Reske

President Barack Obama made $789,674 last year and paid $162,074 in taxes, a tax rate of 20.5 percent, far below the 30 percent minimum he is pushing for in the so-called Buffett Rule.

About half of Obama’s income is from his salary as president and the other half is from book sales, the White House noted in releasing the president’s 2011 tax returns. The first family’s 2011 earnings were sharply below the $1.7 million they made in 2010, due to declining royalties. Obama’s salary as president is $400,000 a year.

Obama, meanwhile, paid a lower tax rate than his secretary, who made less than $100,000, the White House confirmed to
Fox News on Friday.

White House aides would not reveal Anita Breckenridge’s tax rate, but said it was higher than the Obamas' rate, Fox News reported. Breckenridge earned $95,000 last year.

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