Demanding that others in his pay scale pay up to 50% Obamas pay only 18% taxes. Landlord Joe Biden pocketed $26,400 renting cottage to the Secret Service.

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Obamas pay only 18%  in taxes.

By COREY BOLES

WASHINGTON—President Barack Obama and First Lady Michelle Obama paid $112,214 in federal income taxes in 2012 on adjusted gross income of $608,611, an effective rate of 18.4%, the White House said Friday.

The first family’s income declined from the $789,674 in adjusted gross income they reported in 2011. That year they paid total federal taxes of $162,074, an effective rate of 20.5%. Their 2012 income continues a steep decline from 2010 when they reported $1.7 million in adjusted gross income, the bulk of which was royalties from sales from books written by Mr. Obama.

The Obamas paid $29,450 in state income tax to Illinois for 2012.

As in recent years, the Obamas made significant contributions to charity. In 2012, they gave $150,034—or about 24.6% of their adjusted gross income—to 33 different charities. The largest reported gift to charity was $103,871 to the Fisher House Foundation, a group that provides free housing to family members of injured military veterans.   The release of the 2012 tax returns comes as the debate over what level of taxes the wealthy should pay shows signs of heating up again as the president makes another push for a “grand bargain” on deficit reduction.

Landlord Joe Biden pocketed $26,400 in 2012 renting cottage to the Secret Service.  Gives 2% to charity.

By Susan Crabtree

The Washington Times

Friday, April 12, 2013

** FILE ** Vice President Joe Biden gives a thumbs-up before President Barack Obama's State of the Union address in front of a joint session of Congress Tuesday, Jan. 24, 2012, at the Capitol in Washington. (AP Photo/Saul Loeb, Pool)

Vice President Joe Biden and his wife, Dr. Jill Biden, took in $26,400 in 2012 by renting a cottage on the property of their Delaware home to the Secret Service, tax records released by the White House revealed.

They netted $17,944 of that rental money.


The arrangement under which the vice president charged the Secret Service personnel for staying on his Delaware property was first reported by The Washington Times in 2011.

The 2012 payouts were part of the $385,072 in adjusted gross income the Bidens reported to the IRS in 2012, according to their 2012 tax returns.

They reported paying $87,851 in total federal tax for 2012. The amount was roughly the same as it was the previous two years.

The couple contributed just $7,190 to charity, including $2,400 to the Annual Catholic Appeal for the Diocese of Wilmington, Del., $1,000 to the Westminster Presbyterian Church and $1,000 to the Northern Virginia Community College Education Foundation.

They also donated $2,000 worth of household items to Goodwill and the Ministry of Caring, a Wilmington-based nonprofit serving the poor and homeless.

The Bidens listed donations of clothing, boots, kitchenware, glassware, bicycles, toys, pottery and kitchenware to Goodwill and furniture and exercise equipment to The Ministry of Caring.

Obama supporters shocked, angry at new tax increases.

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Obama supporters shocked, angry at new tax increases.

By Joseph Curl

Sunday, January 6, 2013

Sometimes, watching a Democrat learn something is wonderful, like seeing the family dog finally sit and stay at your command.

With President Obama back in office and his life-saving “fiscal cliff” bill jammed through Congress, the new year has brought a surprising turn of events for his sycophantic supporters.

“What happened that my Social Security withholding’s in my paycheck just went up?” a poster wrote on the liberal site DemocraticUnderground.com. “My paycheck just went down by an amount that I don’t feel comfortable with. I guarantee this decrease is gonna’ hurt me more than the increase in income taxes will hurt those making over 400 grand. What happened?”

Shocker. Democrats who supported the president’s re-election just had NO idea that his steadfast pledge to raise taxes meant that he was really going to raise taxes. They thought he planned to just hit those filthy “1 percenters,” you know, the ones who earned fortunes through their inventiveness and hard work. They thought the free ride would continue forever.

So this week, as taxes went up for millions of Americans — which Republicans predicted throughout the campaign would happen — it was fun to watch the agoggery of the left.

“I know to expect between $93 and $94 less in my paycheck on the 15th,” wrote the ironically named “RomneyLies.”

“My boyfriend has had a lot of expenses and is feeling squeezed right now, and having his paycheck shrink really didn’t help,” wrote “DemocratToTheEnd.”

“BlueIndyBlue” added: “Many of my friends didn’t realize it, either. Our payroll department didn’t do a good job of explaining the coming changes.”

So let’s explain something to our ill-informed Democratic friends. In 2009, Mr. Obama enacted a “holiday” on the payroll tax deduction from employees’ paychecks, dropping the rate from 6.2 percent to 4.2 percent. But like the holidays, the drop ended, and like New Year‘s, the revelers woke up the next morning with a massive hangover and a pounding head.

“Bake,” who may have been trolling the site, jumped into the thread posted Friday. “My paycheck just went down. So did my wife’s. This hurts us. But everybody says it’s a good thing, so I guess we just suck it up and get used to it. I call it a tax increase on the middle class. I wonder what they call it. Somebody on this thread called it a ‘premium.’ Nope. It’s a tax, and it just went up.”

Some in the thread argued that the new tax — or the end of the “holiday,” which makes it a new tax — wouldn’t really amount to much. One calculated it would cost about $86 a month for most people. “Honeycombe8,” though, said that amount is nothing to sneeze at.

“$86 a month is a lot. That would pay for … Groceries for a week, as someone said. More than what I pay for parking every month, after my employer’s contribution to that. A new computer after a year. A new quality pair of shoes … every month. Months of my copay for my hormones. A new thick coat (on sale or at discount place). It would pay for what I spend on my dogs every month … food, vitamins, treats.”

The Twittersphere was even funnier.

“Really, how am I ever supposed to pay off my student loans if my already small paycheck keeps getting smaller? Help a sister out, Obama,” wrote “Meet Virginia.” “Nancy Thongkham” was much more furious. “F***ing Obama! F*** you! This taking out more taxes s*** better f***ing help me out!! Very upset to see my paycheck less today!”

Millions noticing paychecks lighter today, due to payroll tax hike

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Millions noticing paychecks lighter today, due to payroll tax hike

 

Millions noticing paychecks lighter today, due to payroll tax hike

By Joshua Rhett Miller

Published January 11, 2013

FoxNews.com

Online outrage as ‘fiscal’ fix hits paychecks.

Gabriella Hoffman’s paycheck is a little lighter today, thanks to a payroll tax increase that is forcing millions of Americans to make the kind of tough budget cuts their representatives in Washington lawmakers seem unwilling to tackle.

Hoffman, a 21-year-old Virginian who works at a nonprofit, estimates her paycheck will be roughly $30 less this biweekly pay period, or about $780 annually, thanks to the end of a two-year cut on payroll taxes, which fund Social Security. The tax has risen back up to 6.2 percent from 4.2 percent, costing someone making $50,000 annually about $1,000 per year and a household with two high-paid workers up to $4,500.

“As a newly-graduated person, someone coming straight out of college, I don’t like the idea of having less money coming to me due to the selfish interests of people in Congress who don’t have any interest in reducing our financial problems,” Hoffman told FoxNews.com. “This is an impediment for future economic growth. It’s going to make it harder for young people like myself to get married, find a better job, you name it.”

Hoffman admits the hike won’t completely alter her spending, but the University of California-San Diego graduate said she will definitely have it in mind when it comes to leisure activities and entertainment.

“Although it’s a small quantity on a monthly basis, just having less money going into my paycheck will prevent me from doing things and force me to be more frugal,” she said. “I’ll be more cautious with my spending.”

“It’s going to make it harder for young people like myself to get married, find a better job, you name it.”- Gabriella Hoffman

The looming hit to Americans’ paychecks has been a hot topic around water coolers nationwide, as well as online, where several forums have been created for taxpayers to commiserate with their lighter wallets. On Twitter, #Why Is My Paycheck Less This Week has been a trending topic as most U.S. workers have either already seen less green or are preparing to do so.

Well, looks like we’re starting to pay back all of the money we’ve spent, without cutting back spending,” one posting read.  Another user cited the need for the U.S. government to “refill the Social Security ‘lockbox’” before stealing from it again as the reason paychecks are smaller.

Other postings chose to politicize the end of the tax cut that was part of the fiscal pact passed by Congress last week.

“Seems to me that anybody who is paid a check for working is considered ‘the rich’ in Obama’s world,” Jeff Hobbs of Texas wrote Wednesday.

Another posting read: “Hey Liberals, #Your Paycheck Is Lower This Week because you voted for the job KILLER, not the job SAVER!”

So, what exactly does $40 mean? That’s what the White House asked Americans last year when President Obama signed the Middle Class Tax Relief and Job Creation Act of 2012, which extended the payroll tax cut and emergency jobless benefits through the end of the year and prevented the typical family earning $50,000 a year from losing roughly $40 from each paycheck.

“$40 is 10 gallons of heating oil when the temperatures in winter hover in the negative numbers for months,” Pamela from Fairbanks, Alaska, posted on http://www.whitehouse.gov/40dollars.

“Forty dollars is a tank of gas, a nicer Sunday family meal instead of hot dogs, the ability to leave lights on instead of turning them off earlier in the evening,” Rita from New Britain, Conn., wrote. “Forty dollars is being able to go to the movies, or having a night out at an inexpensive restaurant, it’s also paying co-pays for my meds that I need to live on.”

Priscilla of Kailua, Hawaii, said $40 is the amount “sometimes between paying the electric” bill or not.“We cannot pay more,” she wrote. “We do not have it.”

Mark Zandi, chief economist at Moody’s Analytics, told The Associated Press that the higher Social Security tax will slow growth by 0.6 percentage point in 2013. But for the average American worker who earns $41,000 – and will receive $32 less on every biweekly paycheck moving forward – the change will not be an “insubstantial hit,” analysts told FoxNews.com.

Hoffman, meanwhile, said she already has all the answers she needs. “Any tax increase is not good for young people,” she said. “What it does is diminish your hard work and you’re slapped on the wrist. This administration is punishing people who are making money. They don’t like the concept of free enterprise. They think these problems will be solved in Washington by taking away more of people’s incomes.”