Echoing Warren Buffett’s complaint that he isn’t paying enough tax, President Obama said that he pays lower tax rates than a $50,000-per-year teacher. Factcheck.org says that isn’t quite so:
President Obama
Tags: factcheck.org, Obama Tax Policy, Peter Pappas, Tax Policy Blog, Warren Buffett
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Joe, the Fact Check analysis and the others that I have seen ignore all the other taxes paid by the teacher and the President.
If she is single without dependents, her federal income/payroll tax burden is very close to President Obama’s. (About a 1.2% difference in 2010, according to FactCheck.)
But, wait, there’s more! [As they say on the late night TV infomercials.]
Once you consider federal and state excise taxes, state and local income taxes, property taxes, and sales taxes, the share of 2010 income paid by President Obama in all taxes combined could very well be less than that paid by single taxpayers with no QC dependents and $50,000 in income.