Obamas paid 20.5 percent federal rate in 2011
Taxed $162,074 on $789,674 earned
- Duration 3:16
- Date Apr 13, 2012
Taxed $162,074 on $789,674 earned
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Like the White House releasing.
The -- a service Obama's 2000 an eleven income tax returns.
The first family making nearly 800000 dollars last year and paying an effective tax rate of about 20%.
And that's where the numbers and then the politics Begin.
And Henry live at the White House this afternoon -- -- -- good to see you back the president income is down but so is is an effective tax rate and that's the big story because it may complicate his case against Mitt Romney all week long you've heard the president he had billionaires millionaires here a couple of days ago at the White House along with their secretaries -- pushing for the Buffett rule.
Which is basically -- four billionaire Warren Buffett the idea that look.
You know these -- billionaire should not be paying a lower tax rate than their executive assistants and secretaries wheel turns out based on the president's tax return.
He probably pays a lower rate than a lot of secretaries he earned as you say 789000.
Dollars last year.
He paid a 162000.
Dollars in federal taxes that is an effective tax rate of twenty point 5%.
It's an independent political analysts we spoke to say today.
That could complicate the democratic argument against Mitt Romney only paying about 14% federal tactical it's.
Relative to -- -- Romney the president isn't making all that much but sure relative to.
The majority of Americans.
The obamas are -- would be considered wealthy.
And they have to make sure that they are not but they're still in touch -- at least tried to show that there -- in touch with the average American.
There is also political vulnerability of course though for Mitt Romney today the Obama campaign in Chicago saying that now the president put out his tax returns.
-- that Mitt Romney should follow suit not just with 2011.
But -- go back about a decade like the president Vice President Biden have gone.
To show the American people exactly how much -- taxes that Mitt -- been paying the Romney camp -- just fired back with a statement spokeswoman -- -- quote it's no surprise with the worst job creation record in modern history the President Obama -- try to distract Americans from the real issues with a series of -- governor Romney has -- -- 2010 return and an estimate of two of his 2011 income in taxes he will release his full 2011 return.
Windy it is filed with the Obama campaign is pressing in Chicago is the idea they believe that Mitt Romney is hiding something that maybe there's some Swiss bank accounts of other attacks -- they've made all kinds of accusations about that and until Mitt Romney releases the 2000 leveraged returns and maybe some previous years this will -- be -- -- That's you know what does it feel uncomfortable like lean mean now know exactly let President Obama made we're gonna know exactly the Romney's -- -- -- feels like.
One of those things are not supposed to talk about but I guess it's just accepted now in politics and Helen -- -- don't tell us.
That's right -- -- put on the table if you're running for public office as they've -- in the Obama campaign say look the Democrats have done that for about a decade -- terms of the tax returns for the president vice president and they're demanding that that governor -- do Islamic.
You know back in polite society you weren't the cement how much did you make last year at right very -- yeah.
But they're not -- you're like me you don't you tell me first and then I'll bet you I'll play well a lot more than I was making that near the god that is that they don't read that -- -- we did some digging here.