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Sic Semper Tyrannis

Sunday, April 15, 2007

That's a lotta taxes.

President Bush got his taxes done early this year.

WASHINGTON - President Bush and the first lady paid $186,378 in federal taxes on their income of $765,801 for last year.
Some versions of the story start with the Bushes' taxable income, while others, like the one I'm citing, start with adjustable gross income. In this particular one, you have to read down a few paragraphs to find:

The Bushes' adjusted gross income of $765,801 was about $30,600 higher than the year before...

The White House reported that the Bushes had taxable income of $642,905.
So their bill was 24% of their adjusted gross income, and 29% of their taxable income. Assuming the story has those numbers right. And check this out:

They paid $27,474 in state property taxes on the ranch — up about $1,000 from the previous year.