What's wrong with the tax system? A lot and Obama's ideas will only make it a whole lot worse.
Drudge headlines today relate to the fact that Obama paid a lower tax rate than his secretary, despite huge differences in incomes. The Obama's paid an effective federal tax rate of 20.5% on $789,674 in adjusted gross income. His secretary earns $95,000 a year but paid an undisclosed 'slightly higher rate'. Drudge: PRESIDENT PAID LOWER RATE THAN SECRETARY... Could Have Paid $103,067 More In Taxes Without Bush Tax Cuts, Credits... Kids get $48,000 -- tax free! VEEP PAYS 23.2% RATE -- ON $379,035 INCOME...
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