Mr. Obama released his federal income tax returns yesterday, tax day, and paid about 27% (slightly less) in tax. I imagine that his tax return is the most "gone over" of anyone in the US. The top rate is 35% but there is Mr. Obama paying 27% not due to "creative accounting" but just doing something that Turbo-Tax does for you. That Mr. Hannity says he pays 35% means that he files an EZ form and pays full rate. That would make him stupid.
NY State gets a chunk of Mr. Hannity's money - but there are deductions that are valid on the federal forms that carry to the state forms so instead of the 9% he claims he pays, the top earners in NY State rarely pay over 6% and the poorest of us pay 4% so go figure. When he purchases weird magazines at the 7-11 he pays sales tax on that and a lot of non-food items which in his case run him almost 9% but that is only on stuff he buys. We all pay that.
Then he pays 2% property tax on an $8 million estate. I doubt it but lets have some fun here. That is deductible. His state taxes are deductible. His consumer taxes are deductible..in fact most of this stuff comes off the top of his federal return and I can double dog dare you bet that he carries a mortgage so he can deduct the interest.
I think it is fair that since Mr. Obama publishes his tax return those maniacs on the right wing fringe who are all bent out of shape about taxes would publish theirs. Hear that Sean? You can put this entire matter to rest by publishing your tax returns for the year and we will see if you actually pay $6million out of the $10million that you make.
Put up or shut up.
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