Low Tax Rate, Refund For Obama
I thought that millionaires were supposed to pay more in taxes? Barack Obama’s tax returns are public information and inquiring eyes have noticed two things: His effective tax rate is lower than the 30% he proposes and he’s also getting a very large tax refund!
That’s right, the Internal Revenue Service owes Barack and Michelle Obama a whopping $24,515.
Income tax rates have been turned into a campaign issue, with the Obama administration calling for higher tax rates – especially for those earning over $1 million.