"President Barack Obama paid an effective federal tax rate of 18.4 percent in 2012"<quoted text>
You are intentionally acting stupid-- or is it just the way you actually are?
You are the one who started this topic. You showed JUST Obama/s federal tax percentage, and then you said that you paid a higher tax, of 30%. But you were adding in your self-employment tax. This is the equivalent of the same thing hourly and salaried workers pay-- EXCEPT for the fact that you pay the employers' side of this tax, as well as the employee's side.
That's also true for me because I'm also self-employed. But Obama ALSO paid a payroll tax on his income as president. But that amount was NOT part of the 18% he paid for his federal income tax. The federal income tax calculations do not include payroll taxes. So you attemptrd to compare apples to oranges.
If you want to argue about the fact that the self-employed have to pay ALL of their payroll tax instead of half of it, that's another discussion.
Don't you have ANY deductions? If you have just 12K in mortgage interest, property tax, charitable deductions, and health insurance write-offs, then your effective federal income tax rate is closer to 10%.
Loco, who just chimed in with his take on this, doesn't even understand tax brackets. He's posted that if there was a 90% top tax bracket, then that means that someone making 1 million a year would be paying $900,000 in taxes.
Sigh... It's impossible to have a discussion with such ignorant people.