Old 01-28-2013, 04:42 PM
Ronn Burgandy
Admirals Club
Ronn Burgandy's Avatar
Join Date: Oct 2010
Location: Where the wild things are
Posts: 15,108

Originally Posted by Crabpot Man View Post
Those are business expenses not deductions and have no bearing on his effective tax rate.
Well, that's just not true. Any golf related expenses would be deductions as business related expenses, and travel, even "luxury" travel, is included in that.

Also, he gets to deduct his state taxes paid from his federal taxes. So on ever $100 he earns over $388k for the year, he doesn't pay 39%, he pays 39% of $86.7, or roughly $33.80. So just there we've reduced his number by almost 6%.

Of course, we are also well aware of his charitable affiliations, so clearly he has deductions there as well. More likely than not, he's got a mortgage as well, and probably pays more in interest than the average family.

The list goes on and on.

Again, I'm not advocating that his rate is "fair" at all. I think the top rate should be 25% and there should be no deductions at all, but I also know there's no way he pays what he said he pays.
Ronn Burgandy is offline