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Oval Office 2005 Tax Returns

Posted By Jim On 04/14/2006 @ 9:50 pm In General | 4 Comments

It’s always interesting when the media reports on the tax returns of the President and the Vice President and this time was no different. President Bush paid nearly $188k on an AGI of $735k, only $400k of which was from salary. That 25.5% is about two times as much tax as I paid this past year, so kudos to the President for paying more (relatively) than I did in taxes. President Bush also donated over $75k to “churches and charitable organizations,” or more than 10% of his income for 2005.

Now take a very deep breath. Vice President Cheney earned $8.82 million. Now take another breath. $6.84 million was in the form of stock options exercised back in 2001 and all of it was donated to charity. VP Cheney still netted himself a cool $1.9 million of which he paid about $529k in taxes (27.8%). Cheney overpaid his taxes this year by over $1.9 million.

via CNN [3].

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[3] CNN: http://www.cnn.com/2006/POLITICS/04/14/bush.taxes.ap/index.html

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