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The White House just posted President Barack Obama's his 2011 federal income tax returns online.

According to the returns, Obama and the First Lady earned $789,674 last year. About half of that — $394,821 — comes from the President's salary, and the other half — $441,369 — is from Obama's book sales.

The returns show that the Obamas paid $162,074 in federal income tax, as well as $31,941 in Illinois state income tax.

The returns also reveal that the First Family donated a whopping 20.5% of their income to charity. The biggest contribution — $117,130 — went to the Fisher House Foundation, which provides assistance to the families of wounded service men and women. According to the White House blog, the President is donating after-tax proceeds from his children's book to the Fisher House scholarship fund for the children of fallen and disabled veterans.

Obama also donated the entire $1M he received for being awarded the 2009 Noble Peace Prize to various USA charities.
From Forbes:

"The 2011 tax return released today by Vice President Joseph Biden shows two things about him: He’s more in hock than average Americans of his income level, and he’s chintzier with the charitable donations.

Biden’s return shows $379,178 in adjusted gross income, along with $30,019 in mortgage interest and $5,350 in donations. He’s spending five bucks in interest for every dollar in charity. A more typical ratio for families at that income level is 2-to-1.

How do I know what’s typical for American taxpayers? By deconstructing IRS statistics showing aggregate income and itemized deductions in different income ranges. These statistics display patterns from which I was able to extrapolate different itemized deduction averages for each income level.

For an average U.S. return at the $379,000 income level, mortgage interest comes to $21,960 and charitable donations to $9,520.

Biden’s stiff mortgage payments are particularly noteworthy in light of the fact that at his age, 68, you should own your house free and clear. He should be getting ready for retirement."
and on the lighter side:

from CNBC:

"The Prison View Golf Course at the Louisiana State Penitentiary made Cheapflights’ Top 10 Hazardous Golf Courses. And lest you think this is some mamby pamby Camp Cupcake prison, the LSP is the largest maximum security prison in the US. In addition to serious security measures, it also features a 9-hole golf course and you can play it for the low greens fee of $10 plus $5 per person if you want a cart.

You don’t even have to commit a felony to get in!

A couple notes: The background check will take 48 hours, you may have your vehicle or person searched at any time and no alcohol or firearms allowed.

For your peace of mind, the golf course’s web site says convicted felons and anyone on the inmates’ visitors list will not be allowed access to the golf course. The prisoners do, however, do all of the groundskeeping work — everything from cutting the grass to fetching balls out of the water.

And Warden Burl Cain told The Advocate that they have never had a riot. However, you should be warned that additional hazards include alligators, rattlesnakes and water moccasins.

And unlike most golf courses, Cain reserves the right to suspend play at any time.

And yes, they’ll let you out! "
Let me put all of the salary stuff into perspective. Mitt has 20 more years on Obama to add to his wealth. 20 years is a lot of time to develop wealth.

Both in my eyes are very rich men, look into the future and you'll see the wealth Obama's wealth skyrocket and equal Romneys when you look at their wealth compared to the same age.

Bill Clinton was a lowley governor from Arkansas when he took office, and in the last 10 years of his private life just from speaking engagements he has earned $44.9 million, http://politicalticker.blogs.c...fter-lucrative-2010/ and there was a rumor he spend 13 million on his daughters wedding.

Personally, I'm sick and tired of hearing the media proclaim Obama as the annointed one. Both Romney and Obama are ricj when compared to my meager earnings. They both deserve to be rich, and personally I couldn't give a rats ass what theydo with their money!

I want someone who can lead, someone who can take care of the debt and someone who won't tax the crap out of me. OBAMA will continue social programs that will add to the debt not decrease the debt, you can go on past history for this.

A report today on the wire stated that Obamas healthcare "tax" was under estimated at how many people will be afftected. I think the figure was 4 million and has jumped to 8 million. I'm thinking everyone has no clue to how many will be affected.

Look at this also does Romney pay for healthcare, tou be your dam ass he does, how about Obama, nope he hasn't paid for healthcare since he entered politcal office.
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quote:
Originally posted by SalesServiceGuy:
Romney is on the front page once again with disclosure that he paid effectively 14% personal tax rate in 2011.

But contrary to popular perception, Romney's effective federal income tax rate is still higher than that of most Americans -- 80% of whom have an effective rate below 15%. That number, however, does not include other federal taxes such as the payroll tax.

The reason Romney's rate is so low -- despite having one of the highest incomes in the country -- is because his income was derived almost entirely from capital gains and dividends from his extensive portfolio of investments. And that form of investment income is typically taxed at just 15%, well below the 35% top tax rate for high earners.

The average tax rate for Canadians is over 20%. Mine was 23% last year and I had a lot deductions.

I think the USA should have a minimum tax rate on all citizens of at least 17-18% no matter how many deductions or entitlements you have.


SSG I agree that the US should have some sort of minimum tax. However 17-18% would hit low income families really hard. The government needs to decrease spending and then adjust the tax codes so that everyone is paying at least a little bit of taxes. The federal government spends way too much money, some if it they do not even have. Right now our treasury is printing money. This will cause inflation. Inflation will increase the costs of everyday goods effectivng everyone, but those with low incomes will be more effected.
The only way the USA is going to get out of it's major deficit is to increase revenues and reduce spending. To think the USA can entirely solve it's budget mess by reducing expenses alone is simply an election ploy.

I understand most citizens fear that increased taxes will only fund bigger Gov't. Those new revenues have got to be earkmarked to reduce the deficit in the same year that they are accumulated.
Wow, whole lotta opinions supported by facts and not so factual statements (unless you have a crystal ball). No one has even mentioned the REAL problem . . . that the process of GOVERNING in the US has been hijacked by the moneyed interests. They are throwing out "false-flag" issues such as War on Women, Mitt's Taxes, Obamacare, ad infinitum, to obfuscate the real problem - The Money Party is running everything and everyone.

The US Department of Defense budget is MORE than the rest of the world combined, yes COMBINED, and there are elected idiots that want more for them. For me it's about time someone (many, many someones) from the Financial Sector be held accountable and be forced to give up their bonuses they received from 2007-2012, for nearly screwing the world economy beyond hope.

My vote still goes to Rocky Anderson because the sooner we all come to the realization that The Money Party gets whatever it wants, will we realize we need additional people in Washington (like Sen Bernie Sanders) that are really interested in changing the system that the moneyed interests have bought with our money (Savings, 401k, Investments, etc.). Obama will be President for another 4 years and the Republican Party will start moving back to where Ronald Reagan left them. The Dems will continue to occupy the middle and sustain the status quo and those of us hoping for change will continue to search for a leader that can lead and not follow the money.

Who's going to win the World Series?
quote:
Originally posted by Jrlz:
Let not this shake your faith in the Democratic party, but Mitt just released his tax returns


Mitt released his 2011 tax return, not the 10 years of returns his father said should be released, not the returns Harry Reid was speaking of. (btw, Harry Reid is an idiot to be quoting some unknown source the might be saying Mitt might have paid nothing.)

I applaud Mitt for his $4million in charitable donations, even if he did give $1m to a cult.

Funny thing is, as mentioned above, he only claimed part of those donations, raising his tax rate to 14%. If he'd claimed all his donations, his tax rate would have been 10.2%, meaning he paid $500,000 more in taxes than he was legally required to.

“I don’t pay more than are legally due and frankly if I had paid more than are legally due I don’t think I’d be qualified to become president,” - Guess who said that?
Jason R, the Democtractic talking points, lead by Harry Reid were that Mitt paid no taxes for 10 years. He proved them wrong. Now they want to once again change the argument. I would not consider the Mormon Religion a cult either. I really could care less about Mitt's or anyones taxes for that matter. Mitt earned a lot of money paid his taxes according to the current laws, enough said. Our country is facing mounting debts, we have become the world's police, we just had a terriost attack on a US Embassy and 4 citizens murdered, high unemployment, a record amount of people on food stamps, and many of the entiltment programs are headed towawrds bankruptcy. Those are some of the many real issues facing the country. The Democratic Party has nothing to run on except the typical class warfare. Mitt is rich I get it. Funny they never seemed to have a problem with Teddy Kennedy or John Kerry.

I was simply pointing out the fact that Harry Reid said Mitt had not paid taxes in the last 10 years. Mitt proved that he has. In my opinion Harry Reid was lying on the Senate floor and he knew it. Where is the Democratic leadership in response to Harry Reid's behaviour?
If Obama or Romney can increase the USA's GDP over the next four years it will be an economic Houdini.

From CNBC:

"Caterpillar, the world's largest maker of earth-moving equipment, has cut its 2015 earnings forecast, citing weak global economic conditions that are hampering its expansion into mining and China."

"We've seen a slowing in economic growth more than we expected," Caterpillar CEO Doug Oberhelman told analysts and reporters on Monday. "We expect fairly anemic and modest growth through 2015."

The forecast cut is "a realistic reflection of the slowdown in the global economy," said Oliver Pursche of the GMG Defensive Beta Fund, which owns Caterpillar shares. "We're not overly surprised by the announcement."

Caterpillar's warning about its profits three years from now sends an ominous message about the global economy — that the current slowdown is likely to be long-term regardless of what policy makers do now.

As the world's premier manufacturer of construction equipment, Caterpillar [CAT 87.01 -3.86 (-4.25%) ] serves as a bellwether for growth.

So when the company Monday cut its guidance not for the coming quarter or coming year but rather all the way into 2015 based on weak global growth, it implied that even if the U.S. solves its fiscal issues, the euro zone escapes its debt crisis and China avoids a hard landing, business conditions likely will be tepid for some time ahead.
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Unfortunately I have first hand experiense with cancer under the american system. Our accumulated medical bills were over $2,000,000 in a 6-month period. Ultimately our insurance company paid every penny. We were definately afraid we would be on the hook for the bill since the treatment was considered experimental but in the end the insurance paid.
quote:
Originally posted by SalesServiceGuy:
The technician, I described earlier with terminal cancer passed away today at 52. He lasted six weeks from his initial prognosis. Maybe it is a blessing in disguise for his wife and son.

$2M in six months is a mind boggling number.


Very Sorry, SSG. 52 is way too young. My prayers go out to his wife and son. Stories like this put the trival challenges of daily work, etc.. into perspective.
quote:
quote:
Originally posted by SalesServiceGuy:
The technician, I described earlier with terminal cancer passed away today at 52. He lasted six weeks from his initial prognosis. Maybe it is a blessing in disguise for his wife and son.

$2M in six months is a mind boggling number.


same here sorry to hear about such a loss for someone so young, there are two primaries in life health & family they are both equal and everything else really doesn't matter much.
SSG - Indeed gone at 52 is tragic loss and another person spending an accumulated $2million is also tragic. But these amounts are "chump change" or "rounding errors" in the Defense Budget. The US could learn from many countries how to do Medical Care and Defense Spending. And many thousands of service personnel since 2001 would have had great lives if they had lived to be 52 instead of 18-19-20 etc. If we had not decided to enter Iraq, Afghanistan, Yeman, Pakistan we sure could've saved blood and treasure. Priorities folks, priorities. Again, sorry for the loss, it's still monumental for those close.
quote:
Originally posted by Jrlz:
Jason R, the Democtractic talking points, lead by Harry Reid were that Mitt paid no taxes for 10 years. He proved them wrong.


Incorrect.

The (idiotic) quote from Harry Reid was that he had spoken to an unnamed source who knew Romney while he was working at Bain Capital. Romney left Bain Capital in 2002, or 1999, or even earlier depending upon which defintition you use, but he's been gone for at least 10 years. Those are the years in question, not last year. Releasing last years taxes does not refute this (moronic) claim by Reid in any way.

We can agree to disagree, but let's at least agree to agree about what we are disagreeing on!
Please. Class warfare, helping the "middle class".These are tactics from the radical 60's. We have no classes this is America and we dont define ourselves this way. We should have the freedom to be upwardly or downwardly mobile. Oppressive taxes and intervention in every aspect of our lives combined with reckless spending has gotten us into this hole.
It seems the Democrats have lost a lot of their momentum to win the election. The election now seems to be a 50/50 toss up with the Democrats having a better "ground game" as the News anchors like to describe it. If the election turns out to be very close, hopefully there will not be another Florida fiasco over "hanging chad" that cost Al Gore the presidency.
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Remember that in the US the Electoral College elects the President while the Popular Vote elects everyone else (Senate, House, Dog Catcher, School Boards etc.) and because of this and Mr Obama's leads in those states he must win I predict (based on the experts I read) Mr Obama will govern again and with a majority in the Senate again. To bastardize Kipling . . . On to the Fiscal Cliff rode the light brigade . . .
quote:
Originally posted by bill w:
We have no classes this is America and we dont define ourselves this way. Oppressive taxes and intervention in every aspect of our lives combined with reckless spending has gotten us into this hole.


We don't define ourselves this way??? How would you define the poor, the Middle Class and the very wealthy? As for "oppresive taxes" what would you call the taxes of Denmark, Norway, Sweden etc. - those should be considered oppressive by Americans but those countries are always the "Happiest People on Earth". Do you understand why? They prefer the lifestyle and freedoms their way of life (and tax structure) provided them. You mentioned the '60's - go look at the Corporate and Individual Tax Rates then compared to your "oppressive taxes" of today. Sorry Bill but I strongly disagree.
They have started yelling "Where is Obama?" in the streets of Staten Island, NY and down on the Jersey Shore, just like the Katrina victims began to blame Bush. People with no power, no warmth, and running out of food are asking why Obama has not sent in FEMA and the American Red Cross. Taylor Swift just said on television that President Obama does not like middle-class white people! The people waiting in line for gas are starting to brawl and police intervention has been required in New York, New Jersey, and Connecticut. Bread lines might be next!
Old Glory that is a very ugly and inappropriate comparison you made.

I really hope that if Romney gets elected that he does not cut FEMA. He suggested this earlier in the campaign but flip flopped with Superstorm Sandy.

Hopefully, Sandy will bring back to life real concerns in the US political system over global warming. Both parties, but especially the Republicans, are guilty of side stepping this issue during the election.
quote:
Originally posted by SalesServiceGuy:
Old Glory that is a very ugly and inappropriate comparison you made.

I really hope that if Romney gets elected that he does not cut FEMA. He suggested this earlier in the campaign but flip flopped with Superstorm Sandy.

Hopefully, Sandy will bring back to life real concerns in the US political system over global warming. Both parties, but especially the Republicans, are guilty of side stepping this issue during the election.


Yea, it was pretty ugly but it was illustrative. Just like the saying that the best of two evils is still evil, the best of two bads is still bad.
As far as FEMA and any other cuts, there is no way we can eliminate the deficit without everyone being adversily affected but think of how much better we could respond to catastrophies such as Hurricane Sandy if we weren't sending billions to the Chinese in interest payments.

Side stepping the issue of Sandy or global warming? Because I don't think global warming was side stepped by the Republicans. I think it was ignored and with good reason.
No, we need to pay our debts and yes, I do not believe global warming is real, not in the way you do anyway. I do not believe that there is such a thing as man made global warming and I seriously question whether any current fluctuations are anything but the normal ebb and flow of cyclical events that have gone on since the beginning of time.
http://www.sunjournal.com/news...ieve-big-lie/1275666


According to a 2009 Pew Research Center Poll, only 36 percent of Americans believe there is “solid evidence” the earth is warming because of human activity, down from 47 percent in 2008 and 41 percent in 2006. Only 57 percent believe there is solid evidence the earth is warming at all, a significant drop from 71 percent the previous year.

Those who have accepted the big lie as truth are fervent, unquestioning and unshakable in their belief. For many others, the campaign has simply taken the bloom off the rose of green energy, creating confusion and apathy about the issue.

The increasing influence of this propaganda campaign helps to explain why the 2012 presidential candidates have barely mentioned global warming as a campaign issue and why few incumbent congressmen or senators will even comment on the issue anymore, let alone sponsor or vote for bills that address it. Politically, global warming has become too hot to touch.
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http://www.nytimes.com/2012/04...ather-poll-says.html

A poll released in April 2012 shows that a large majority of Americans believe that this year’s unusually warm winter, last year’s blistering summer and some other weather disasters were probably made worse by global warming. And by a 2-to-1 margin, the public says the weather has been getting worse, rather than better, in recent years.

A large majority of climate scientists say the climate is shifting in ways that could cause serious impacts, and they cite the human release of greenhouse gases as a principal cause. But a tiny, vocal minority of researchers contests that view, and has seemed in the last few years to be winning the battle of public opinion despite slim scientific evidence for their position.



How strongly do you agree or disagree with the following statement?

Global warming is affecting the weather in the United States.

Nat’l Avg Northeast Midwest South West
Strongly agree 26 37 22 22 28
Somewhat agree 43 34 49 44 43
Somewhat disagree 19 22 17 21 17
Strongly disagree 11 7 12 13 12
Last edited by SalesServiceGuy
quote:
Originally posted by Old Glory:
No, we need to pay our debts and yes, I do not believe global warming is real, not in the way you do anyway. I do not believe that there is such a thing as man made global warming and I seriously question whether any current fluctuations are anything but the normal ebb and flow of cyclical events that have gone on since the beginning of time.


I agree with Old Glory.
First on the US debt and deficit spending has to be dealt with, we cannot continue down the path we are on. While we need to pay our current debts we should look at cutting spending. Everything must be cut – social spending, defense, foreign aid, everything. I don’t understand why we are sending billions to other countries for foreign aid when we cannot pay our bills. It is like someone not being able to pay their mortgage but using their credit card to give money to charity. If we confiscated all the income from everyone earning more than $250,000/year we would not fund the federal government for a year. Spending cuts, not tax increases are what we need.
On global warming. Our planet has gone through many warming and cooling periods over its history. I am not convinced that what we are seeing is because of anything we are doing. How does a hurricane prove man-made global warming? Hurricanes have existed since before man was here. We even have a hurricane season which is June 1 – November 30. I vividly recall when I was in 1st or 2nd grade being taught in school that the earth was cooling and we might be headed for the next ice age. I remember because it scared the hell out of me. 30 years latter all of a sudden the scientific community is now saying we are warming? How is it that scientists cannot tell me with certainty exactly what the weather is going to be tomorrow, but yet they can tell me that the earth is warming and it’s our fault. I am not convinced.
quote:
Originally posted by Jrlz:
First on the US debt and deficit spending has to be dealt with, we cannot continue down the path we are on. While we need to pay our current debts we should look at cutting spending. Everything must be cut – social spending, defense, foreign aid, everything.


I totally agree with this. Cutting spending should be a high priority.

However, if you are trying to pay your bills at home, cutting expenses is important, but having money coming in is equally important.

I'm not for "increasing" taxes, but saying you are paying too much when you are paying less than any time in the last 50 years just sounds crazy.

If the Ryan tax plan were adopted, Romney's tax rate would be 0.82%. How can that be presented as a responsible option considering our crushing debt?
Salesserviceguy, I'm confused about what your position is on Global Warmimg. With your last two posts, one seems to have a bias against an one a bias for. Being in Novia Scotia, I would expect that you face a global warming bias in the media although I was surprised to see in the poll numbers that you site that various areas of the country seem to poll pretty similar.

Food for thought...if the dustbowl years of the 1930's happened today, it would be blamed on man-made global warming. It obviously wasn't man-made then. Why would it be today?
quote:
Originally posted by JasonR:

However, if you are trying to pay your bills at home, cutting expenses is important, but having money coming in is equally important.

I'm not for "increasing" taxes, but saying you are paying too much when you are paying less than any time in the last 50 years just sounds crazy.

If the Ryan tax plan were adopted, Romney's tax rate would be 0.82%. How can that be presented as a responsible option considering our crushing debt?


First of all, I question your data but regardless, If you donate enough money to charity, you can reduce your tax burden to nothing. Romney donated 29.4%, over $4 million to charity. Also, his income comes largely from Capital Gains, not income which makes a difference.

I totally agree with..."if you are trying to pay your bills at home, cutting expenses is important, but having money coming in is equally important." However, increasing taxes can be detremental.

“In short, it is a paradoxical truth that … the soundest way to raise the revenues in the long run is to cut the rates now. The experience of a number of European countries and Japan have borne this out. This country’s own experience with tax reduction in 1954 has borne this out. And the reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.”

– John F. Kennedy, Nov. 20, 1962, news conference
The theme I was trying to convey was that the polling indicates between 2009 and 2012, Americans attitude towards global warming is that it is not some fuzzy far off threat but real and much closer to home.

Basically, the prevailing research indicates that while 67% of Americans believe that global warming is a growing problem, 98% of politicians avoid the issue.

"Global warming skepticism is still alive and well, thanks to an effective campaign of public disinformation — one heavily financed by oil, gas, electric utility and coal interests, and employing tactics pioneered by the tobacco industry."

"Climate scientists have been warning for more than two decades that global warming is accelerating as a result of human activity, primarily from burning of fossil fuels; and contributing to extreme weather patterns, including longer droughts, more violent storms, rising sea levels and bigger coastal surges. Sandy and the drought that gripped the southern and western United States this summer should be exhibits “A” and “B” to that prediction."
Last edited by SalesServiceGuy
quote:
Originally posted by SalesServiceGuy:
"Climate scientists have been warning for more than two decades that global warming is accelerating as a result of human activity, primarily from burning of fossil fuels; and contributing to extreme weather patterns, including longer droughts, more violent storms, rising sea levels and bigger coastal surges. Sandy and the drought that gripped the southern and western United States this summer should be exhibits “A” and “B” to that prediction."


So huricanes and droughts are both the result of global warming? It appears that all significant weather activity, droughts and floods, heat and even cold spells are blamed on global warming. But only the skeptics are subject to "disinformation"?
No one is saying hurricanes and droughts are the exclusive result of global warming only that the increasing frequency and severity of such weather events appear to be related.

2/3rds of Americans somewhat to strongly believe global warming is effecting the weather in the USA.

Skeptics are always free to voice their opinion and can believe what they wish. Just like the tobacco industry wants people to believe that smoking does not cause cancer.
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