The Buffett Rule Would Not Apply To Obama
OFFICIAL WHITE HOUSE PHOTO BY PETE SOUZA
The President and the first lady watched their income shrink from $5.5 million in 2009 to $789,674 in 2011.
On Friday, the White House released the Presidentās tax returns. Apparently, the Obamas have been hit by the bad economy. In 2009, they brought home $5.5 million. In 2010, they earned $1.7 million. And in 2011, they made $789,674.
President Barack Obama has been adamant that Americaās wealthiest should pay higher taxes. Under the Buffett Rule, those making more than $1 million would be heavily taxed.
Obama pushed the plan during a year in which he earned less than $1 million.
But White House Press Secretary Jay Carney said the President would feel the effects of his own proposals.
āUnder the presidentās own tax proposals, including the expiration of the high-income tax cuts and limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it,ā Carney said.
Bryan Nash Staff writer Bryan Nash has devoted much of his life to searching for the truth behind the lies that the masses never question. He is currently pursuing a Master's of Divinity and is the author of The Messiah's Misfits, Things Unseen and The Backpack Guide to Surviving the University. He has also been a regular contributor to the magazine Biblical Insights.
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