Monday, April 18, 2011

President Obama Releases His Tax Return

The President and Mrs. Obama have released their 2010 tax return.

The return shows that they earned $1,728,000, in 2010. Most of it came from book royalties, $1,568,273. The taxes paid by the President and Michelle were $453,770, a tax rate of 25%.


  1. I am convinced. that book deals and speaking fees from many mainstream sources are just a way to launder payoffs.

  2. @Anon 3:08 - I agree with you. It's an easy backdoor way for erstwhile campaign contributors to funnel money to a politician without having to deal with messy disclosures.

    I don't have a problem with people using their property (money) in their own self-interest. But if you're a politician, don't be out there promising to be the most transparent President ever, and championing campaign finance "reform" laws which do nothing more than restrict my right to use my property.

  3. What. Is. Barack. Obama's. Social. Security. Number?

    I hear that blocks of SS numbers are allocated to each state. Is that so? If so, is Barack Obama's SSN in a block assigned to Hawaii??

    What is his SSN?

  4. Wow, 59 pages of forms and statements. Fifty-nine. Accountants and tax attorneys have a clever income protection racket.

  5. You mean an accountant and tax attorney protection racket. When I was a highly paid lawyer and had all salary income (and the tax code was a few thousand pages shorter) my return was five to ten pages. Now I have my own business and my return is 101 pages. Both returns and all returns in between show about the same effective tax rate as a percentage of gross income. It moves maybe two to three percentage points.