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Poorboy

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[h=1]Did Obama Pay a Lower Rate Than His Secretary?[/h]by Keith Koffler on April 13, 2012, 12:00 pm

Updated 1:10 pm ET
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.
Obama’s federal income tax rate was 20.5 percent. If you include the Medicare and Social Security taxes paid by Obama, his total federal tax liability is 21.8 percent, fully two percent less than that of his secretary even though his adjusted gross income was nearly nine times hers.
 

Cuuzzz

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muttly

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I heard this on Mark Levin yesterday. We can call this the Obama Rule. The "Obama Rule " is a sitting president who has a lower tax rate than their secretary. That would be Obama and that is his rule. THE OBAMA RULE. Got it? :D
 
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