Thursday, April 26, 2012

Obama's Fake Poverty

Obama likes to remind disciples that the didn't finish paying off his student loans until just eight years ago. What he doesn't say is that those loans were not a burden
[A]ccording to their tax returns, which are available on the White House website, the Obamas had a healthy, six-figure income by the year 2000 (the earliest return available). And for at least two years before his loans were paid off, Obama, by his own definition, made so much they were wealthy enough to pay higher taxes.

Here’s a rundown of the president’s income, according to his tax returns, in the years before he paid off his student loans:

2004: $207,647
2003: $238,327
2002: $259,394
2001: $272,759
2000: $240,505

In 2001 and 2002, the Obamas would have met the $250,000 standard the president has set for those wealthy enough to afford to pay more taxes.

It’s also notable that the Obamas didn’t claim deductions for student loans on any of those years, most likely because they made too much money to qualify for the student loan deduction.
And of course, a little later, Michelle Obama was given a no-show, $300,000/year job by the hospital she worked for as a reward for earmarks that Obama steered the hospital's way.

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