Debt Financing

Obama is a 1 percenter paying a lower tax rate than most of the 99 percenters

Barack and Michelle Obama's 2011 tax forms have been made public and they reveal some interesting items. First, they have income of almost $790,000, but their effective tax rate was slightly over 20 percent. Many of us would love to pay that rate! I suppose Obama is trying to amplify the "rich don't pay their fair share" malarkey. Wouldn't they set a great example by saying "We want to pay our 'fair share' so we are foregoing itemized deductions"? But that doesn't fit with "the rules don't apply to liberal, ivy league-educated elites."

Another interesting item involves the purchase and sale of U.S. Treasury securities.

English, please 2

Can anyone translate this? I don't know if this is good or bad for TPS.

Syndicate content