Taxation of our Representation

April 15, 2010 5:06 PM

The Obama and Biden tax returns are already on line. The President and First Lady made a lot of money, and they also paid a lot in taxes, as well as donating generously to charity. The Vice President and his wife made a lot less, and apparently didn't keep track of all their cash donations. Here are the returns for the Obamas and the Bidens (pdf format). (P.S. -- Dick Cheney's reported income in office outstrips the President's.)
posted by bearwife (26 comments total)

the Obamas paid $1,792,414 in federal income tax...

Socialists!
posted by R. Mutt at 5:13 PM on April 15, 2010 [6 favorites]

Oh god that Washing Post column is so dancing around the pole of trying to somehow vilify the Obamas they might as well be May Day dancers.
posted by The Whelk at 5:16 PM on April 15, 2010

and in other news
posted by The Whelk at 5:26 PM on April 15, 2010 [3 favorites]

Both Obamas and both Bidens contributed $3 each to the Presidental Election Campaign Fund = MONEY LAUNDERING!!!!!
posted by monosyllabic at 5:32 PM on April 15, 2010 [3 favorites]

Other people's tax returns are none of my business.
posted by headnsouth at 5:38 PM on April 15, 2010 [7 favorites]

Socialists!

Well, they do live in public housing.
posted by IndigoJones at 5:41 PM on April 15, 2010 [4 favorites]

I couldn't really care less about this.
posted by HuronBob at 5:47 PM on April 15, 2010

>Other people's tax returns are none of my business.

Whoa, what? This is how we keep people (and organizations) accountable. Look at Nixon's example...look at Bill Clinton's underwear...no don't
posted by circular at 5:47 PM on April 15, 2010

No social security number = not born in US. I knew it!!
posted by Xurando at 5:47 PM on April 15, 2010

The family tax return, filed jointly, shows that the couple donated $329,100 to 40 charities, including $50,000 to CARE, an anti-poverty organization; $50,000 to the United Negro College Fund; and $20,000 to the Boys & Girls Clubs.

Noted for emphasis.
posted by ColdChef at 5:59 PM on April 15, 2010 [4 favorites]

those sound like ACORN fronts. SEIZE THEM
posted by TrialByMedia at 6:12 PM on April 15, 2010 [2 favorites]

I have issues with several items on that return, starting with the $472,000 in deductions Obama took against his $1.7 million in foreign source income he earned in "Various" countries. Good thing the form requires the taxpayer to attach a statement for "Expenses Directly Allocable to Foreign Income," although Obama's statement doesn't provide much detail considering it lists one expense for the full $472,000 for "Other Expenses Directly Allocable." That's a pretty brash move--should have just listed one expense and called it "You Don't Have the Balls to Audit Me Expenses."
posted by stevenstevo at 6:24 PM on April 15, 2010 [1 favorite]

The family tax return, filed jointly, shows that the couple donated $329,100 to 40 charities, including $50,000 to CARE, an anti-poverty organization; $50,000 to the United Negro College Fund; and $20,000 to the Boys & Girls Clubs.

Noted for emphasis.


That's not even including the $1 million Nobel prize, which he donated to charity.
posted by ekroh at 6:34 PM on April 15, 2010

Obama's grandmother, Madelyn Dunham, left him stock in the Bank of Hawaii valued at almost $500,000 at the time of her death in November 2008, the tax return shows. But the value of that stock plunged rapidly as the U.S. economy cratered in the first weeks of 2009. The Obamas sold the stock in early January after it had lost $125,000 in value.

Wow. Can you imagine how that would feel if you weren't rich? To inherit a half million and have it drop to 1/8th million in a few months?
posted by delmoi at 6:41 PM on April 15, 2010 [1 favorite]

It sounds like it went down to 3/8s of a million, delmoi.

I have to disagree with headnsouth. The tax returns of people that aren't running my government are none of my business. It's not like I'm not asking for a video feed from his bathroom or anything.
posted by invitapriore at 6:48 PM on April 15, 2010

It kind of weirds me out to be looking at other people's tax returns. Do all politicians havet o post theirs, or is it just a Prez./VP thing? If it's only a President and Vice President thing, why? Who started the tradition?
posted by julie_of_the_jungle at 6:51 PM on April 15, 2010

Officials noted that a special IRS regulation allows the recipient of a Nobel Prize to donate the award to charity without having to record it as income on a federal tax return.

Wow, that's ... oddly specific. Another reason why tax laws, written end to end, would travel 700 times around the Sun.
posted by jacalata at 6:52 PM on April 15, 2010 [1 favorite]

Can you imagine how that would feel if you weren't rich? To inherit a half million and have it drop to 1/8th million in a few months?

I'm pretty sure I'd feel like I was up $1/8th million, and rich.
posted by kirkaracha at 7:00 PM on April 15, 2010

AROUND THE SON?!1? YOU THINK OBAMA IS THE MESSIAH!!!!1!!
posted by Astro Zombie at 7:01 PM on April 15, 2010 [1 favorite]

From the "in the other news" link ("Obama extends hospital visitation rights to same-sex partners of gays")

But opponents of same-sex marriage have called the visitation issue a red herring, arguing that advocates want to provide special rights for gays that other Americans do not have. (aka having non-relatives be able to visit them.)

REALLY? This is like the kid who murdered his parents asking for pity because he's an orphan. Geez louise.
posted by Solon and Thanks at 7:15 PM on April 15, 2010

I have issues with several items on that return, starting with the $472,000 in deductions Obama took against his $1.7 million in foreign source income he earned in "Various" countries.

My guess is this is SOP. You really think Obama's trying some kind of sleight of hand on his returns with all the scrutiny he's under? It even says he returned a small sum of money for "excess compensation."
posted by ekroh at 7:19 PM on April 15, 2010

It kind of weirds me out to be looking at other people's tax returns. Do all politicians havet o post theirs, or is it just a Prez./VP thing? If it's only a President and Vice President thing, why? Who started the tradition?

Here's a Web site where you can see returns for several presidents going back to FDR (and for a couple VPs and Palin).
posted by ekroh at 7:45 PM on April 15, 2010

Damn, the Obamas (well, their accountants Weinberg, Solheim, etc) use ProFX. I recognize the layout of the schedules; it's the same program I have used for at least fourteen years now. I could have done the President's tax return! I SHOULD have done the President's tax return!!!!
posted by yhbc at 8:42 PM on April 15, 2010 [1 favorite]

bearwife: Here are the returns for the Obamas

I love the filename:

http://media.mcclatchydc.com/static/pdf/Thomma-obamatax.pdf

They just need to mess with the extension to make it perfect

Thomma-obamataxorama.pdfomma

Just say it out loud: "Tomma obama taxorama p-d-f-omma." Rolls right off the tongue.

It's 1:27 am, they're not all going to be gems.
posted by WCityMike at 11:28 PM on April 15, 2010 [6 favorites]

So I'm the only one who initial read that as Osama bin Laden's tax returns?
posted by hincandenza at 2:38 PM on April 16, 2010

yep
posted by mendel at 9:38 PM on April 16, 2010