April 18, 2011 |
President Obama's income dropped substantially in 2010 from the previous year due to declining book sales, but he is still comfortably in the ranks of the nation's millionaires, his federal tax returns show. The Obama family earned $1.73 million last year, largely from sales of the president's books, "Dreams from My Father" and "The Audacity of Hope. " Obama also derived income from his new children's book, "Of Thee I Sing: A Letter to My Daughters," but he donated all proceeds to a charity benefiting children of slain and disabled soldiers, the White House said The Obamas paid a total of $454,00 in federal taxes and $52,000 in Illinois state taxes, according to the returns, released Monday by the White House.
April 13, 2012 |
The White House's proposed "Buffett Rule" looks like a political winner, at least for now. A new Gallup poll finds that six in 10 Americans support the idea of a law that would require households that earn $1 million or more a year to pay a minimum 30% tax rate, as President Obama has called for. Thirty-seven percent are opposed. Three out of four Democrats favor the plan, while Republicans are split 43% for and 54% against. Among independent voters, 63% back the idea, while 33% oppose it. Last September, Obama called for tax reform that would, in part, ensure that the middle class did not have a higher tax burden than "millionaires and billionaires.
CALIFORNIA | LOCAL
August 20, 1986 |
Orange Mayor James H. Beam, who is running against Anaheim Mayor Donald R. Roth for the 4th District seat on the Board of Supervisors, released his tax returns--as Roth did last week--at a press conference Tuesday in Santa Ana. Beam's federal return for 1985 showed wages of more than $120,000, interest income of $3,314, capital gains of $3,974 and business losses of $27,608. Beam and his wife, filing jointly, paid $16,160 in federal taxes.
April 20, 1997
In "CPI Squabble Diverts Attention From Real Issues" (View From Washington, March 30), Robert Rosenblatt claims that your "typical" 65-year-old widow would lose $3,900 in Social Security benefits by 2005 and that a middle-income family with two children would pay $1,400 more in federal taxes. Those figures have to be based upon some assumptions of inflation rates over the next eight years, something even the most astute economist hasn't been able to do or even predict. How can a meaningful discussion on balancing the budget take place until we correct the inaccuracies that have a direct effect on balancing the budget?
June 1, 1986
Standing in a line holding hands with millions across America was a thrill. There are even deeper joys if we continue the spirit through the years by giving some time to one of the many private organizations that are helping the poor and homeless and by lowering our life styles so that we can give more money as well. After all, except for accident of birth, we may have been one of them. The Bible urges us to give 10% or more of our total incomes for the less fortunate. Americans give only an average of 2% to 3% now. Imagine how good you would feel inside to know that you have helped to save lives simply by buying fewer and less fancy cars, clothes, appliances, etc. and donating the savings to church and synagogue outreach efforts or to one of the many worthy poverty crises center.
March 13, 2006
Although the article "And Now, Four-Star Hospitals" [March 13] provides a balanced view of specialty hospitals' benefits, the concerns regarding alleged harm from specialty hospitals are not well-founded. There is no evidence of any general hospital closing because of competition from a specialty hospital. A Medicare Payment Advisory Commission study found any financial harm suffered by general hospitals from specialty hospitals was temporary, and that specialty hospitals' competition actually forced general hospitals to do a better job. A Health and Human Services study found quality was consistently high at specialty hospitals, and that mortality rates were lower than at general hospitals.
CALIFORNIA | LOCAL
May 24, 1986
It is suggested that a similar article be addressed to big business, and the rich, to forgo the many tax goodies and tax shelters which enable them to pay nothing or very little in federal taxes. Also ask the speculators in securities, commodities, real estate and other items to subject their capital gains at regular income tax rates as applied to wages and salaries. Ask those who sell their homes to forgo the $125,000 exclusion from income taxes and pay regular taxes on the gain.
April 26, 1989 |
Sen. Lloyd Bentsen (D-Tex.) knows that statistics are strange and changeable things. When he was writing a law several years ago to provide an insurance fund for workers' pensions, government experts told him that an annual premium of 50 cents per worker would be enough. Let's double it to be sure, Bentsen said, and the premium was set at $1 a year. Today, the pension insurance system costs $16 a year for each worker, Bentsen said the other day, laughing at the memory of how wrong the actuaries can be. But now this same Lloyd Bentsen is making a big political bet that the experts have guessed right in figuring the cost of Medicare's catastrophic-illness program, which offers beneficiaries unlimited days of hospital care and coverage of prescription drugs.
August 16, 2012 |
Ann Romney gets her say Thursday night about the increasingly urgent - or from her perspective, unreasonable - demands for the release of her family's tax returns. After briefly dropping off the political radar, questions that have dogged presumed GOP presidential nominee Mitt Romney are back: How much has he paid over the last decade in federal taxes? Will he prove it by releasing more than two years of returns? On the trail Thursday, The Times' Michael Finnegan reported that Romney swatted down the accusation (as advanced and re-advanced by Senate Minority Leader Harry Reid)