Presidential Tax Return Made Public
Through White House Press Secretary Jay Carney, President Barack Obama announced the release of his family’s 2012 tax returns Friday. The 32-page tome can be accessed here.
The Obamas reported an adjusted gross income of $608,611, $400,000 of which came from the President’s salary, and almost all of the remainder coming from book sales. The family paid $112,214, or 18.4 percent, in taxes. Through relatively sizable charitable donations, the Obamas’ actual tax liability was $335,000.
Interestingly, the President’s beloved Patient Protection and Affordable Care plan would require only about $2,000 in tax contributions for someone reporting the Obamas’ earnings, according to Forbes. That leaves lower income brackets to foot the rest of the plan’s required $317 billion in new tax revenues over the next 10 years.
Ben Bullard Reconciling the concept of individual sovereignty with conscientious participation in the modern American political process is a continuing preoccupation for staff writer Ben Bullard. A former community newspaper writer, Bullard has closely observed the manner in which well-meaning small-town politicians and policy makers often accept, unthinkingly, their increasingly marginal role in shaping the quality of their own lives, as well as those of the people whom they serve. He argues that American public policy is plagued by inscrutable and corrupt motives on a national scale, a fundamental problem which individuals, families and communities must strive to solve. This, he argues, can be achieved only as Americans rediscover the principal role each citizen plays in enriching the welfare of our Republic.
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