Just a thought...Does the President have to pay taxes?
By smwilliams
@smwilliams (647)
United States
March 2, 2008 5:54pm CST
I was just reading a discussion where someone was asking about the amount of the presidents salary..And a thought popped into my head...Does he pay taxes on his income? Or is he exempt from those because he is the president? And does he get a rebate check too? LOL...Its funny how I never thought of that before! If anyone knows can you let me know?
2 people like this
5 responses
@ctrymuziklvr (11057)
• United States
2 Mar 08
I read somewhere that the President does pay taxes but I don't know which taxes he pays. I'm thinking maybe state taxes for the state he is from?
@ctrymuziklvr (11057)
• United States
3 Mar 08
I just found this interesting little tidbit....
PRESIDENT AND MRS. BUSH RELEASE 2006 TAX RETURN
President and Mrs. George W. Bush reported taxable income of $642,905 for the tax year 2006. This resulted in a total of $186,378 in federal income taxes paid by President and Mrs. Bush.
The President's 2006 income included salary earned as President and investment income from the trusts in which their assets are held.
President and Mrs. Bush contributed $78,100 to churches and charitable organizations, including the Crawford Volunteer Fire Department, the Federal Government’s Combined Federal Campaign, Operation Smile, Martha’s Table, the Salvation Army, Susan G. Komen Foundation, and the Yellow Ribbon Support Center.
http://blogs.suntimes.com/sweet/2007/04/bush_cheney_2007_income_tax_re.html
@sedel1027 (17846)
• Cupertino, California
3 Mar 08
I wonder what else he gets money from. He only makes $400K from being the president.
@smwilliams (647)
• United States
3 Mar 08
I know his family is well off without him being president. He owns stock in his Dads oil and God only knows what else. So if he has to pay taxes will he get one of his own rebate checks in May?
@maxsee212 (799)
• United States
2 Mar 08
from what i think, i think all people living in a country should pay taxes. i think nobody is excluded from taxes because taxes are a way to fund the necessities of a country. taxes are good in a way that it provides the funding for the betterment of the country. without taxes, we are living in a place of nothingness and no improvement. sometimes, taxes are problems because nobody wants to give away money that they earned very hard with their sweat.
1 person likes this
@smwilliams (647)
• United States
3 Mar 08
I totally agree, but I have no idea if our President is exempt from say federal taxes? I guess it was just one of those things that popped into my head and now I have been searching everywhere for an answer!
@enchantedleppard (1541)
• United States
3 Mar 08
I agree with the fact that they do have to pay taxes. Definitely state and federal, just like anyone else. Even if they didnt have to pay those, they would still have to pay for the returns on investments they have made for the calendar year.
@sedel1027 (17846)
• Cupertino, California
3 Mar 08
Since he lives in Washington DC, does he pay a state taxes? DC is not considered a state.
@enchantedleppard (1541)
• United States
3 Mar 08
Wouldnt he have to pay a state tax for the state he lives in? I'll do some research and see what I can come up with. I remember hearing a news story on this a while back.
@smwilliams (647)
• United States
3 Mar 08
Your right, but I wonder if he just has to pay for what he makes outside of being President. He has other income. So I guess the big question is does he have to pay taxes on what he makes as President?
If you find out any info will you Please let me know..Now that the thought is in my head its bugging the heck out of me!
@Alfie1970 (257)
•
3 Mar 08
I dont know about the president paying taxes but i know our politicians do (in the UK) and so do the monarchy - NOW!
One thing i do know is here in london we have a congestion charge for driving in central london and guess who has the biggest debt in fines, The US embassy now owe £2,000,000 in non paid charges because they say they are except from British taxes,someone go knock on the door and tell them its not a tax, whats wrong with the tube lol. :)
@smwilliams (647)
• United States
3 Mar 08
LOL...Here is me surprised...There is always an ongoing argument about what embassy and embassy leaders are exempt from. I know we have issues here as well..I think if you are there regardless it needs to be paid. :)
