Let’s see HER tax returns !

Obama seems determined to structure the U.S. income tax code around Warren Buffett and his secretary.

There she was … in Michelle’s box for the SOUTU address.

Well, seems that cameo appearance is sparking some scrutiny.

Is she, in fact,  a tax-abused waif living from paycheck to paycheck?

According to Forbes: Warren Buffett’s Secretary Likely Makes Between $200,000 And $500,000/Year

Warren Buffet’s secretary, Debbie Bosanek, served as a stage prop for President Obama’s State of the Union speech. She was the President’s chief display of the alleged unfairness of our tax system – a little person paying a higher tax rate than her billionaire boss.

Bosanek’s prominent role in Obama’s “fairness” campaign has finally  piqued curiosity.

How much does her boss pay this downtrodden woman?

So far, no one has volunteered this information.

We can get an approximate answer by consulting IRS data on tax rates by adjusted gross income, which would approximate her salary, assuming she does not have significant dividend, interest or capital-gains income (like her boss).

I assume the tax rate Obama refers to is from her own earnings.

Insofar as Buffet (like Mitt Romney) earns income primarily from capital gains, which are taxed at 15 percent (and according to Obama need to be raised for reasons of fairness), we need to determine how much income a taxpayer like Bosanek must earn in order to pay an average tax rate above fifteen percent. This is easy to do.

The IRS publishes detailed tax tables by income level.

The latest results are for 2009. They show that taxpayers earning an adjusted gross income between $100,000 and $200,000 pay an average rate of twelve percent.

12% is below Buffet’s rate; so she must earn more than that.

Taxpayers earning adjusted gross incomes of $200,000 to $500,000, pay an average tax rate of nineteen percent.

Therefore Buffet must pay Debbie Bosanke a salary above two hundred thousand.

At that level of income, she is scarcely the symbol of injustice that Obama wishes her to project.

While we’re at it, how about a peek at Buffett’s returns?

After all, if we’re going to revamp the entire tax code off of 2 data points, let’s at least have all the data that the points have to offer.

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2 Responses to “Let’s see HER tax returns !”

  1. Tim Williams Says:

    And for what it’s worth, $200,000 household income puts you in the top 2.87%.

    It seems to me that in 2008, Obama said that these were exactly the people that needed to pay more…

  2. Frank Says:

    Warren should just pay her via carried interest.

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