As TheBlaze reported on Friday, President Barack Obama and wife Michelle paid 18 percent in taxes for 2012. That 18 percent tax rate means the Obamas worked just more than 64 days in order to earn the money they needed to pay the government their “fair share.”
The top tax rate charged by the federal government for high earners like the Obamas would be 35 percent. If the president and his wife paid the 35 percent rate, they would have had to work until May 8 (128 days) in order to meet their obligation to the nation.
But is 18 percent really a fair share for the first family? Let’s remember the 2012 presidential campaign that regularly featured many media outlets slamming Mitt Romney for paying around 15 percent in taxes in 2011.
It also should be noted that today, the average American has to work until April 18 in order to pay their tax obligations to the nation. (And according to one online report, April 18 is a full five days longer than last year’s Tax Freedom Day.) By the way, from January 1 to April 18 is 108 days.
- President Obama paid 18 percent in taxes on his earning for 2012 — he only needed to work until March 5 in order to meet these obligations so often called the price we all must pay to enjoy the freedom and prosperity of America.
- If the Obamas paid the going rate for high earners, they would have had to work twice as long — to May 8.
- The average American will work until Thursday, April 18 (108 days) in order to be free of his or her tax burdens.
- Rich people like Bill Maher regularly complain about paying more than 50 percent of their earnings in taxes.
So, while the president and first lady finished working for the government in early March, ”Joe Six Pack” is saddled with an additional 44 days (more than six weeks) of paying taxes on his income. Imagine the impact on the economy if American workers had the extra money from those 44 days. They could us it to pay down debt, invest in their future, spend it on a much-needed vacation or a host of items they have put off buying since the nagging recession began.
Will any in the mainstream media make this comparison?