Arizona voters OK sales tax hike
Agreement reached on tax extenders

Did the Obamas over pay their taxes?

Barack and Michelle Obama's first tax return as the First Family was too generous to the IRS.

That's the assessment of Dorothy A. Brown, law professor at Emory Law in Atlanta. Brown notes in an article for Tax Analysts:

The first couple earned more than $5 million and paid 32 percent in federal income taxes. When compared with their peers, they paid too much. According to the most recent IRS statistics, most households with adjusted gross incomes of at least $5 million paid only 23 percent in federal income taxes. Were the Obamas trying to single-handedly reduce the deficit by paying extra taxes they did not owe? No. Their taxes were high because of how they earned their money.

The rest of Brown's analysis is available at TaxProf Blog via an arrangement between the University of Cincinnati College of Law professor and blogger and the tax publication.

Related posts:

Want to tell your friends about this blog post? Click the Tweet This or Digg This buttons below or use the Share This icon to spread the word via e-mail, Facebook and other popular applications. Thanks!


Feed You can follow this conversation by subscribing to the comment feed for this post.


That is really interesting to learn. I wonder why that news isn't share in the media. Or am I just living under a rock?

The comments to this entry are closed.