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Re Obama's taxes; why didn't he pay AMT?
Topic Started: Apr 19 2011, 08:40 AM (250 Views)
jon-nyc
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Cheers
I found the actual 1040 here:

http://www.nytimes.com/interactive/2011/04/19/us/politics/19obama-doc.html?ref=politics

I was curious how hard he got hit by the AMT - only to see that he didnt! I got hit for over 30k and I have fewer deductions than they do.


Anyone know why?
In my defense, I was left unsupervised.
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KlavierBauer
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HOLY CARP!!!
Leader of the free world?

Sorry - that's a joke answer.
No - I don't know why.
"I realize you want him to touch you all over and give you babies, but his handling of the PR side really did screw the pooch." - Ivory Thumper
"He said sleepily: "Don't worry mom, my dick is like hot logs in the morning." - Apple

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Copper
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Shortstop

He is now active military.
The Confederate soldier was peculiar in that he was ever ready to fight, but never ready to submit to the routine duty and discipline of the camp or the march. The soldiers were determined to be soldiers after their own notions, and do their duty, for the love of it, as they thought best. Carlton McCarthy
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ivorythumper
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I am so adjective that I verb nouns!
Copper
Apr 19 2011, 09:25 AM
He is now active military.
and of course his political fights allow him to declare it all as combat pay...
The dogma lives loudly within me.
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jon-nyc
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I think I figured it out, most of their deductions are cash gifts to charities, which are AMT exempt.
In my defense, I was left unsupervised.
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Mikhailoh
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If you want trouble, find yourself a redhead
That would explain why I got hit this year - big deductions for rent and mileage.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Frank_W
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Resident Misanthrope
Well, as POTUS, he's also the Commander In Chief of the Armed Forces. So technically, yes, he probably could claim to be an active member of the military. I don't know the tax technicalities, though.
Anatomy Prof: "The human body has about 20 sq. meters of skin."
Me: "Man, that's a lot of lampshades!"
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Mark
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HOLY CARP!!!
The AMT is foul.
___.___
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o 0
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Axtremus
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HOLY CARP!!!
The Obamas' 1040 lists a $395k-ish W2 income, and the Bidens' 1040 lists a $308k-ish W2 income. I suppose those would be the salaries they draw as POTUS and VPOTUS. Too bad the link didn't contain their W2s. Would be fun just to see what a POTUS and VPOTUS' W2s look like. :lol2:
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John D'Oh
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MAMIL
Axtremus
Apr 19 2011, 11:22 AM
Would be fun just to see what a POTUS and VPOTUS' W2s look like.
First time I've heard it called that.
What do you mean "we", have you got a mouse in your pocket?
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Improviso
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Axtremus
Apr 19 2011, 11:22 AM
The Obamas' 1040 lists a $395k-ish W2 income
I was under the impression that the POTUS salary was $400K. Do you suppose he paid healthcare insurance premiums with pretax dollars? :D
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KlavierBauer
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HOLY CARP!!!
When I was a kid, POTUS was paid $250k a year - 1MM for the whole run. Glad he's seen a raise - that always seemed a bit low.
"I realize you want him to touch you all over and give you babies, but his handling of the PR side really did screw the pooch." - Ivory Thumper
"He said sleepily: "Don't worry mom, my dick is like hot logs in the morning." - Apple

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jon-nyc
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I agree. 400k, while lowish for their station, is sufficient IMO. While in office they would only need money to support things like their kids tuition, every thing else is covered for them. plus, they get a pension immediately afterward and their earning potential post presidency is superb.
In my defense, I was left unsupervised.
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KlavierBauer
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HOLY CARP!!!
I wasn't aware of the post-office pension.
That's not bad - serve 4 years, retire with defined benefits package?

Where do I sign up?
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"I realize you want him to touch you all over and give you babies, but his handling of the PR side really did screw the pooch." - Ivory Thumper
"He said sleepily: "Don't worry mom, my dick is like hot logs in the morning." - Apple

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ivorythumper
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I am so adjective that I verb nouns!
jon-nyc
Apr 19 2011, 04:02 PM
I agree. 400k, while lowish for their station, is sufficient IMO. While in office they would only need money to support things like their kids tuition, every thing else is covered for them. plus, they get a pension immediately afterward and their earning potential post presidency is superb.
And FLOTUS rides anywhere for free in her own 737. FFS.
The dogma lives loudly within me.
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