Income tax returns from the U.S. Senate race are slowly trickling in. After the two Chrises posted solid six-figure numbers yesterday, Susan Bysiewicz released her 2011 joint returns Thursday and it shows she’s a long way from the 1 percent.
Bysiewicz and her husband David reported an adjusted gross income of $154,360. They paid $38,249 in income taxes — almost 25 percent of their income — which vaults Susan B. to the lead in the coveted percent-of-income paid in taxes category. Wouldn’t it be interesting to contrast Susan B. with Linda McMahon in this area? We’re still waiting on Team McMahon’s tax forms, by the way.
Bysiewicz was less impressive in the charitable giving department, making just $1,560 in gifts to the needy during 2011.
The entire tax tax return is here.
Wasn’t that the lesson from the President’s tax return?
Obama wasn’t able to write off all his business expenses the prevous two years. Air Force One and the White House office don’t qualify for tax deductions. This year Obama increased his charitable deductions to bring his rate down to 20%.
So what would SB’s effective tax rate be with 10% charitable deduction instead of 1%? (Another $14,000 deduction?
Instead of Obama’s tax returns I’d love to see his transcripts from college, as well as his original birth certificate.
Nice to see Al Gore who made nearly a billion dollars on this global warming hoax found it in his heart to donate the princely sum of $300.
The sad state of the ecconomy
Net worth of the 1%: $5.7 Trillion
Obama 4-year deficits through FY 2012(Sept). $5.6 Trillion (est).
Obama could appropriate all the net worth of the top 1% and claim a balanced budget.
Going forward: based on the 2012 budget ($2.5 Tril revenue and $3.8 Tril expended) an across the board tax increase of 52% would balance the budget.
So there you are. We appropriate all the wealth of the top 1%, pass a 52% tax increase, and we then have the same crappy government with balanced budgets.