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Wait.... why? I paid a higher percentage of my income to taxes than the president?

Can someone explain some basic math to me here. Why is my tax bracket 28% while the POTUS who had income of $1.7MILLION only paid 26%?

I don't mean to sound 'elementary' in my thinking; but something doesn't seem right about that. Especially when the 2011 IRS Tax Bracket says that anyone making over $349K is supposed to pay 35%. What am I missing here?

Yeah, I get that his 26% us actually more dollars than my 28% - but isn't fair fair? That's nearly $155K that our government didn't get from him that they should have gotten. They got all of my share, why not all of his?

Is this what the real truth is about people who make a million or more? And if it is, no wonder they want more money from me, cuz me and other people in my bracket are making up for what they don't pay in. I mean it would take 5 or 6 families paying in just to cover what he didn't pay. And that's not fair. We're already paying for all food, lodging and travel for his entire family. (And this goes for ANY president)

Answer Question
 
Anonymous

Asked by Anonymous at 7:26 PM on Apr. 18, 2011 in Money & Work

Answers (16)
  • Nope, your wrong, tax dollars DON'T. Go for his food, or his families lodging.... Plus there's a lot of loop holes that his very well paid account knows
    Anonymous

    Answer by Anonymous at 7:29 PM on Apr. 18, 2011

  • Really? I have been under the impression my entire life that money that we pay in, plus revenue raised by the US is what pays for the electric bill at the White House... if I'm wrong about that, I'm wrong.
    Anonymous

    Comment by Anonymous (original poster) at 7:36 PM on Apr. 18, 2011

  • Wait - so who DOES foot the bill for Air Force 1? We pay for that. Okay, I relent on the idea that we pay for his hotel stays (they're probably covered by the hotel for the high honor).... but we DO pay for Air Force 1 and all that goes along with it. Which is a huge tax burden - something like $60K an hour! That's a way bigger burden on us than his hotel bill is on him.
    Anonymous

    Comment by Anonymous (original poster) at 7:42 PM on Apr. 18, 2011

  • I know that the president pays for all his food period. Say he orders something from the kitchen at the white house well he pays for that meal just as you would going out to eat. Someone correct me if I am wrong on this.
    Mel30248

    Answer by Mel30248 at 7:43 PM on Apr. 18, 2011

  • And that doesn't exactly answer my question about the tax bracket percentage.
    Anonymous

    Comment by Anonymous (original poster) at 7:44 PM on Apr. 18, 2011

  • because rich people get more tax breaks than the poor & middle class....
    samurai_chica

    Answer by samurai_chica at 7:45 PM on Apr. 18, 2011

  • I wasnt answering your question about the tax bracket thing b/c I dont know. You were talking about his electric bill etc so I thought I'd toss in that I knew he paid for his own food that is all.
    Mel30248

    Answer by Mel30248 at 7:45 PM on Apr. 18, 2011

  • So I'm reading tid-bits here and there and it seems that yes, they do pay for private meals , like Mel suggested, but not state dinners. Not medical care (rather using the White House doctor or a private doctor - we pay for it) and they don't pay for any prescriptions either. They also are *given* $100K per term to decorate with and we pay them $400K a year.
    DANG - that's a helluva gig; maybe I should run for president. I understand that they also pay for their own residence and everything that comes with that like you and I do - but how much time does the current Family even spend at their private residence. Heck Bush spent so much time at his we could probably ALL quote the name of it... but where does O live? Where's his private house?
    Anonymous

    Comment by Anonymous (original poster) at 7:54 PM on Apr. 18, 2011

  • Nah, all is good Mel, I was actually posting that to Anon - probably at the same time you were posting. Our posts just stepped on each other.
    Anonymous

    Comment by Anonymous (original poster) at 7:55 PM on Apr. 18, 2011

  • Uh Oh, I found it. NEXT QUESTION.. how does a Junior Senator making $175K (or less) purchase a house for $1.6MILLION ?? Holy crap, what was Michelle making for them to afford THAT loan?
    Anonymous

    Comment by Anonymous (original poster) at 8:03 PM on Apr. 18, 2011

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