So Barack and Princess Michele had an effective tax rate of 18% on income of 878K. I can do math. Excuse my rounding errors. After charitables they had income of 605K and an effective 18% means they paid 108,900 clams to the Treasury. Using tax tables for married filing jointly that’s the tax one would pay on 401K of income where the bracket has risen to 33%. So where did the Obama’s get that $605,000-301,000= $304,000 of write-offs? Maybe they have really, really expensive child care. Maybe Barack deducts his utilities, whoops nope, Illinois has a state tax so he can’t do that option. Maybe he had gambling losses or a bank account in Tangiers or Cyprus under a Muslim name. I dunno. How do you get $304K K in write-offs?
Whatever it was, he sure spent a lot of time huddling over the kitchen table with an adding machine compared to Joe Biden who had income of $378K and paid 20.4% effective rate on way less income. Of course Joe only gave about 700 bucks to church or any other charity.