Taxes

Updates

April 12, 2013: If a tax rate of 18% does not catch the attention of tax-paying Americans, I would be really, really surprised. Isn't 18% about the lowest rate there is? I think 15% capital gains are about as low as one goes on federal taxes. A millionaire president of the United States of America! 18%! Something doesn't ring true. I'll probably post this periodically just to remind folks what a great country we live in. If you manage your money right, define it correctly, and come up with the right deductions, and credits, millionaires can get their federal tax rate down to 18%. Of course, I suppose, some millionaires get it down even more. Wow, the president is lucky this is not France where the rate might be 75%.

Original Post

It looks like I pay more than the president in taxes, on a percentage basis. Oh, well.

And the Bidens? Charitable giving up to 2%. I don't think the Bidens have any objection to donating now that they are so much better off financially, but having not donated all these years, they just don't know how. It's also very, very possible they are like  most of us: we donate a lot but we don't feel compelled to do it for tax purposes. Simply being a public servant, Mr Biden is paying way more than his fair share.

That goes for Mr Obama, also. I wouldn't want that job even if the salary was tax-free.

You know: that seems to be the reward for being elected president and vice-president. Prior to being elected to the highest offices of the land, one really doesn't have to publicize one's taxes, and even if running for the highest offices of the land, one only has to provide sanitized versions. But once you win the presidency/vice-presidency, your prize seems to be the opportunity to lose complete control of your tax statements. Even one's golf score can be kept private.

What a great country.