Barack and Michelle Obama paid 20.5 percent of their 2011 income in taxes. It’s a great opportunity, so the White House thinks, to tout Obama’s much loved “Buffett Rule” tax plan. Which, of course, was rather predictable.
Obama and Michelle doled out a 20.5-percent tax rate on almost $800,000 in gross income last year, according to the newly-released tax returns. The family’s income fell from $1.7 million in 2010 and a sizable $5.5 mil in 2009. Most of his income from last year came from book royalties.
Here goes Carney, exploiting the fact: “Under the president’s own tax proposals, including the expiration of the high-income tax cuts and limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it,” he affirmed in a blog post.
Now the Biden family:
Vice President Joseph Biden and his wife, Jill, reported paying $87,900 in taxes on $379,035 in adjusted gross income for a 23.2 percent rate. The White House also released their returns today.
But the fun part is charitable contributions. Obama inflated his charitable donations up to 22 percent last year, an 8 percent spike over last year and a 16 percent spike over 2006. Notice the trend?
Unlike Obama, Biden doesn’t care about populist perception. Of their $370,035 income in 2011, the Biden family forked out a whopping $5,540 to charity — or 1.45 percent. In 2006, the couple doled out .15 percent of their income to charity.
Quite the philanthropists, they are.