Apr 16, 2009
The Tax Bill of the “Overseer” of the Empire and His Lady
Bruce Bartlett’s last column at Forbes.com dealt with America's relatively low tax rate overall compared with most nations. Think how low it might be if Obama can cut some of the military bloat and provide an efficient health system.
As reported by Bloomberg, Obama’s income of over $2.7 million came mostly from sales of his two books, on which he paid a tax of over $850K. His new tax plan would cost him another $102K.
The Republicans and their"tea bags," have managed in the long run to find another stale issue. The real issue is equity within the tax system, along with regulation of Wall St., as well as what Mark Twain once called"the Lawyer Tribe," now about to feast vampire-like on the carcass of Lehman Brothers. American"Legalism" has made historical Chinese Legalism look like a modest-Mandarin effort!
As reported by Bloomberg, Obama’s income of over $2.7 million came mostly from sales of his two books, on which he paid a tax of over $850K. His new tax plan would cost him another $102K.
The Republicans and their"tea bags," have managed in the long run to find another stale issue. The real issue is equity within the tax system, along with regulation of Wall St., as well as what Mark Twain once called"the Lawyer Tribe," now about to feast vampire-like on the carcass of Lehman Brothers. American"Legalism" has made historical Chinese Legalism look like a modest-Mandarin effort!