President Fair Share - Obama Tax Rates

To put President Obama's "Fair Share" Tax Payer Program in perspective,  "A new report just out from the Internal Revenue Service reveals that 36 of President Obama's executive office staff owe the country $833,970 in back taxes. These people working for President Fair Share apparently haven't paid any share, let alone their fair share."

Warren Buffett’s secretary, Debbie Bosanek, was paraded as irrefutable evidence documenting President Obama’s main point in his State of the Union speech. Debbie was Obama's Exhibit "A" in the Public Court of Opinion about the alleged unfairness of the income tax system – the little people paying higher tax rates than their rich high income bosses. Billionaire Warren Buffett's Effective Federal Income Tax Rate Was Just 11%. So, how much salary does Warren pay Debbie so that she pays more than an average 15% tax rate than him? Hmmn...

After consulting IRS data on tax rates by adjusted gross income which would approximate her salary, we calculated that she does not have a second job or significant dividend, interest or capital-gains income (like her boss) and was filing as an individual on earnings since Obama was not clear if she is married and filing jointly. 

"The IRS publishes detailed Income Level Tax Tables. The latest results are for 2009. Tax tables show that taxpayers earning an adjusted gross income between $100,000 and $200,000 pay an average rate of twelve percent. This is below Buffett’s rate; so she must earn more than that. Taxpayers earning adjusted gross incomes of $200,000 to $500,000, pay an average tax rate of nineteen percent. Therefore, Buffett must pay Debbie Bosanke a salary above two hundred thousand dollars. The tax tables tell us about average ranges. For all we know she earns closer to a half million each year, but that is pure speculation."

Debbie is hardly one of Obama's 99% wage income earners or one that pays proportionately more than her billionaire boss either. Her value as an example for Obama's campaign rhetoric for unjust tax rates is simply a plain case of deception. Again, this is another Obama public relations screw-up by not completely vetting facts before offering them up for public scrutiny. Anybody seeking a job on any day would gladly have Debbie's federal income tax rate to make a pay grade like Debbie!

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VOTE 2012!  ~