April 15, 2013

FOD

Golf Count: 119

What a callous jerk, out golfing on Saturday, while Wasserman-Schultz's staff is at home, planning their measly brown bag lunches for the week.

I need to go back and look, but I am fairly certain that I predicted Obama would break the 200 round mark before the end of his second term.  Not golfing during election season makes his total seem low, but I think the frequency of golf outings will increase exponentially now.

Last week brought the annual unveiling of the president (and vice's) tax returns.  The bulk of the Obama's $662,076 income was from his $400,000 presidential salary, with an additional quarter million in income from sales of his books, and about $11k in investment income. 

The White House was quick to issue a statement to try and head off criticism:
In 2012, the president and first lady paid about $112,000 in federal income taxes. The White House said their effective tax rate was 18.4 percent, but added that it would have been more if Republicans would accept his tax proposals.
“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,” Jay Carney, the president’s press secretary, said in a statement on the White House Web site.  (from here.)

Tony Nitti at Forbes, must have read that quote as he penned his article that compares Obama's 2012 taxes with what he would pay on the same income in 2013, with Obamacare and other changes that he has pushed through.  If you enjoy a bunch of tax-speak, read the whole article, but for us short attention span folks, here is a handy table:


    
So in summary, the law changes arising from the fiscal cliff negotiations — which will raise over $600 billion in additional tax revenue over the next decade  — will cost the President – assuming he repeats the same income and deductions – about $2,200 next year.
And if that’s got you feeling a little angry, you may just want to go ahead and skip the rest of this sentence…because of the $317 billion in additional revenue expected to be raised over the next ten years by the two Obamcare tax hikes, the President will personally be contributing a whopping $1,800 in 2013.

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