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Showing posts with label lady. Show all posts
Showing posts with label lady. Show all posts

Saturday, April 13, 2013

Obamas pay $112,214 in federal taxes for 2012



President Barack Obama and first lady Michelle Obama paid $112,214 in federal income taxes on adjusted gross income of $608,611 in 2012—for an effective rate of 18.4 percent. They also contributed $150,034 to 33 charities, or 24.6 percent. And they paid $29,450 in Illinois income tax.
The White House released the first couple's tax returns Friday, before the April 15 deadline to file to the IRS.
What about the Bidens? One interesting nugget from their tax return is that Vice President Joe Biden and his wife, Jill, gave $2,000 in clothes, furniture and exercise equipment to charity. So someone out there could be walking in the vice president's shoes. Literally.
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The Obamas made less money than they did last year ($789,674) but also paid a lower effective federal income tax rate (it was 20.5 percent in 2011.)
Their largest charitable donation, $103,871, went to the Fisher House Foundation, which provides free or low-cost places to stay to veterans and military families getting care at military medical centers.
"The president believes we must reform our tax system which is why he has proposed policies like the Buffett Rule that would ask the wealthiest Americans to pay their fair share while protecting families making under $250,000 from seeing their taxes go up," White House press secretary Jay Carney said in a blog post. "Under the President’s own tax proposals, including 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."
The Buffett Rule is named for billionaire investor Warren Buffett, who says that he pays a lower effective federal income tax rate than his secretary does.
So what happens if you plug the Obamas' income into the Buffett Rule calculator the president's re-election campaign used to pound Mitt Romney last year? (Yup, it's still live.) It's disappointing. Put in the income, the fact that the Obamas' are married with kids, hit "calculate," and you get: "Tax rates at the salary you entered vary significantly based on the level and nature of investment income, as well as other factors."
The Bidens reported adjusted gross income of $385,072 and paid $87,851 in federal income tax for an effective rate of 22.8 percent. They gave $7,190 to charity. And they paid $13,531 in Delaware income tax and $3,593 in Virginia income tax.
What about those "noncash charitable contributions"? Clothing, boots, kitchenware, glassware, furniture and exercise equipment, bicycles, toys, glasses and pottery. All worth about $2,000.
On Twitter, someone suggested that the Bidens could actually generate more income for their chosen charities:
For those of you who don't speak the language: What if the Bidens auctioned their goods online and gave the proceeds to charity?

Sunday, April 7, 2013

Kidnapped 89-Year-Old to Captors

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An 89-year-old woman who spent two days locked in her car trunk thinking she'd never be found has a message for her teen captors.
"You got to be kind to other people if you want somebody to be kind to you," Margaret Smith said.
The 4-foot-11 octangenerian's story began with an act of kindness on March 18.
Smith had stopped at the Chicken Man Convenience Store in Milford, Del., for a Butter Pecan ice cream cone when two teenage girls approached her and asked for a ride across town.
"I decided not to, then I said, 'Well, a good deed,'" Smith said.
After driving around for a while, Smith said the girls snatched her car keys and stuffed her in the trunk of her Buick.
"The way they drove off flying, I didn't think nobody would ever find me," she said. "I just had to pray about and hope that I'd be found."
Smith spent the next two days crammed in the trunk, without food, water and her blood pressure medication. She said the only time the girls opened the trunk was to rob her of the cash she was carrying.
"I was very tired, cold, hungry, scared," Smith said. "I didn't know what to expect."
After spending 48 hours locked in her trunk, Smith's kidnappers inexplicably decided to dump her in a remote cemetery.
"I was crawling through the cemetery on hands and knees," Smith said. "Nothing but a pair of stockings on, no jacket...Finally somebody found me. I don't know who."
Smith was taken to a local hospital, where her family, who had reported her missing, received a call that she was safe.
Delaware State Police found Smith's car days later and arrested and charged five teenagers inside. All are believed to have some involvement in the kidnapping, robbery and theft, ABC News' Philadelphia affiliate WPVI reported.
Four of the teens, ranging in age from 14 to 17, are being charged as adults, while a fifth faces receiving stolen property and conspiracy charges as a minor.
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