*Unlike Mitt Romney, who’s asking for an extension, the White House has released the president’s 2011 tax info for the world to see as the filing deadline looms on Tuesday, April 17.
President Barack Obama and his family paid more than $160,000 in U.S. taxes last year.
Specifically, the president’s 2011 federal income tax return shows reported adjusted gross income of about $790,000 last year. About half of the first family’s income is his salary. The White House says the rest comes from sales of Obama’s books.
Obama’s effective tax rate is just above 20 percent — lower than many Americans who earn less, something he wants to change. He has made tax-rate fairness an election campaign issue as he seeks a second term.
The White House released a copy of the president’s tax return, which shows charitable donations of more than $172,000.
President Obama is donating after-tax proceeds from his children’s book to a charity that helps veterans and military families receiving medical treatment.
Meamwhile, President Obama said Republican presidential candidate Mitt Romney should ‘absolutely’ release his tax returns, calling it a tradition among U.S. presidents and candidates, in an interview conducted by Univision in Cartagena, Colombia.
As we said above, Romney requested a six-month extension to file his 2011 federal income taxes, said Andrea Saul, his campaign spokeswoman. Saul said he would file and release the return before the Nov. 6 general election.
“I think that it’s important for any candidate in public office to be as transparent as possible, to let people know who we are, what we stand for, and you know, I think that this is just carrying on a tradition that has existed throughout the modern presidency,” Obama said yesterday, according to a transcript of the interview released today. The interview airs Sunday on Univision’s “Al Punto” program.
Read/learn more at Bloomberg.
very charitable….. now where are romneys…oh thats right probably being flip flopped as i type
The sheer irony that will be lost on the most rabid (and not so) Obama supporters and Romney critics is that Obama pays less in taxes than does his secretary.
With Mitt Romney running, its a sure thing Obama will be re-elected. Everyone came down on that lady who said Mitt’s wife hasn’t worked a day in her life and hell, she was telling the truth. I’m sure every woman with children, married or single would love to stay home and raise the kids but what bank will give you a home or car loan with just one income?? There is no way the Romney’s can relate to the poor or middle class, let alone minorities. I am just DYING to see what his spill will be to win black and hispanic voters. Its like they just threw his ass in there because they know there is nobody in the Republican party capable of fixing this mess we’re in. No, Obama isn’ the blessed savior but he sure as hell can relate to those of us that work like Hebrew slaves and can barely make ends meet. There is no way this country’s economic problems can be fixed in 4 years, not even in 8 years for that matter…no one wants to admit it but when you have a war, there is almost a guarantee of a recession and when the war is absolutely uncalled for, your really screwed…the Republicans always hold up any bill that will extend extra monies to families that have lost jobs…who does that??? Like people who’ve worked for years would rather sit on their ass and collect an unemployment check and not have suitable healthcare for the families…OMG
Don’t be certain that Obama has it in the bag. Despite how people might think Romney can’t relate (which is a classist, unfounded argument) Romney will have the vote of every single person who loathes Obama, think he’s been a bad president, and the usual republicans.
The Romney’s “can’t relate” to the poor in the same way the Kennedy’s, Clinton’s and Bush’s “couldn’t” and as we have witnessed, a person’s wealth is not a determinant of how well they relate to the poor/downtrodden. If that were the case, no one would respect nor like Bill Gates whose wealth is such that even Romney can’t dream off.
Obama didn’t campaign on fixing the issues AFTER he’s no longer in office so the idea that it “takes time” will continue to fall flat w/most other thinking americans.
There are people, thousands of, who are actually fine with sitting on their asses at home and collecting unemployment checks.