April 17, 2012 · 0 Comments
Post by Nicole Fabian-Weber
You can run, but you can’t hide. That fateful day has finally descended upon us, people. It’s April 17. Tax day. A day, if you hadn’t already taken care of your taxes weeks ago, you’re either celebrating or cursing. Personally, I’m doing the latter, as I freakin’ owe. President Obama, on the other hand, is doing the former. The Obamas got serious cash back. We’re talking over 20 Gs here. WTF? How is this possible? He gets everything.
According to reports, the IRS will be sending Barack and Michelle Obama a check to the tune of $24,515. That’s right, an almost $25,000 tax return. Could you imagine getting that much cash back? I can’t, ’cause again, I owe.
Turns out, fatty tax checks for Presidents aren’t anything new. In fact, Obama’s return is small potatoes in comparison to George W. Bush‘s in 2003, which was more than $61,451. A good majority of their baller checks can be attributed to their charitable ways — and the fact that they pay a crazy amount in taxes year-round. Last year, Obama and his family paid more than $160,000 in taxes on a $789,674 income. (The Prez’s salary is $400,000, the rest of the money came from the books he wrote.) Obama’s filing, which was released by the White House, also shows donations to organizations of more than $172,000, and a payment of $31,941 in state income tax in Illinois.
But still … I want a $25,000 check right now. I understand the logistics of how this whole “tax thing” works, but there’s something about getting a check “out of nowhere” — no matter how much you’ve paid — that feels like free money. It’s a beautiful thing. And I’m sorry I can’t enjoy it as much as Obama. Lucky stiff.
Are you getting money back or do you owe? If the former, what are you gonna do with all that sweet, sweet cash?
Image via mediajorgenyc/Flickr
By Emma Brown