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According to the White House official web site, "President Obama and the First Lady filed their income tax returns jointly and reported adjusted gross income of $789,674. About half of the first family's income is the President's salary; the other half is from sales proceeds of the President's books. The Obamas paid $162,074 in total tax. The President and First Lady also reported donating $172,130 - or about 22% of their adjusted gross income - to 39 different charities." President Obama was taxed at a 20% rate, which is higher than the 14% Mitt Romney paid on his $20.9 million income.
What else can I help you with?
What percent of taxes did obama pay in 2011?
According to their tax returns, Mr. and Mrs. Obama were taxed at an effective rate of 20.5%. I enclose a link to the President's 2011 taxes.
How much money will I have to pay in taxes if I don't have insurance next year under Obamacare?
How much money a person has to pay in taxes if they don't have insurance depends on how much money they make and how big their family is. Obama Care will decide the amounts.
How much taxes do you have to pay on $600.00?
How much federal taxes do you have to pay on $600?
What percent of income does Obama pay in income taxes?
90%
What does Barack Obama think about income taxes?
the rich people should pay more taxes.
What are the new taxes created by Barack Obama?
So far, there have not been new taxes. In fact, there have been several tax cuts. But Mr. Obama did say that he believes the wealthiest 2% of Americans need to pay more in taxes, and he has proposed that their taxes be increased slightly, to raise much-needed revenue.
Does Barack Obama pay taxes?
yes, he does. He releases his tax returns to the public.
Does obama support increasing taxes on S corporations?
This is a double sided question. The direct answer is that Obama will not raise taxes on S-Corporations. S-Corporations rarely pay taxes. Their profits flow through a schedule K-1 to the owners individual income tax return.If Obama raises personal income taxes, which he probably will, then yes you will pay more.The biggest issue with Obama and S-Corporations is the fact that Obama wants the profits from an S-Corporation to be subject to Social security Taxes. Under present law, an owner of an S-Corporation can take distributions of profits and not pay social security taxes. The only tax you pay on S-Corp profits is federal income taxes. If he does pass this change then owners of S-Corps will pay upwards of 15.3% of their profits for Social Security Taxes. Thus eliminating the need to form an S-Corp.
What percentage will you have to pay?
If I recieced 27,547.40 in disability in 2011 what will I have to pay next years taxes for 2011?
Did Obama give up his pay for 2011?
No. How would he pay for his sixteen vacations?
Does President Obama have to pay taxes?
Absolutely. All people do, even presidents. And Mr. Obama has released his tax returns to the public, so you can see that he does pay his fair share.
How much do you pay in taxes?
Too much for what I get out of it... ;-)
