Can you say hypocrite?...Fraud...Phony...oh and MUSLIM ANTI-AMERICAN USURPER!

Do as I say……Barack Obama

Obama’s tax return for 2009 was just published today. There is some interesting information that you WILL NOT hear in the mainstream press. Barack Obama made $1.6 million dollars in dividends, investment and other business “income” from “foreign” (as in overseas) investments (providing foreign capital for foreign jobs some likely “exported” from the USA) and only made $12,000 dollars in dividends from US based companies, and even this was because he was the beneficiary of a Trust that made the investment decisions not likely Barack Obama.

Obama didn’t pay any US taxes on the $1.6 million in foreign income as corroborated on his form 1116 attached to his 1040 yet it generated a $59,000 credit against Obama’s US taxes which means because he invested overseas and avoided US taxes he also benefited from it by reducing his tax on his other US domestic income by $59,000. I guess this is okay for him but Exxon and other American companies should be criticized for the same thing.

In short, Obama invested in foreign companies not American companies and though he paid taxes on that income to foreign countries, those taxes created a credit (offset) against Obama’s US taxes to the tune of $59,000. Though this is legal and I have done the same, but to an exponentially smaller degree (not $1.6 million in income) it was he not me that lamented US taxpayers and corporations exporting jobs outside of the US and not paying their “fair share” of US taxes during the political campaign.

I’d say he is talking a good game, but finding better opportunities to invest offshore when it comes to his own money and should be more consistent with his own campaign rhetoric in his personal finances or change the rhetoric to conform with business realities of the world. If you either doubt what I have said or my “warped” interpretation, please go HERE to a link at Huffington Post and page down to his return, and then “download” the return and click on open and go to pages 13 & 14 (of a complicated 38 page tax return) and read his form 1116 [titled Foreign Tax Credit] which doesn’t bring his foreign earnings to his 1040 at all, just a tax credit against his US tax liability. [I report and you decide.] NOTE: If by the time you read this the Huffington Post takes this down, Post a comment on this NSL entry with your email address and I’ll send you a copy of his 2009 taxes, including his gift tax return that he is utilizing (legally) to transfer assets to his children in order to avoid future “death” taxes.

The press “accidentlly” missed this same thing in 2008 when they pronounced that his tax return looked “pretty much in order.” A notable difference in 2008 was that most all of his “interest income” was in “Tax Exempt” domestic debt instruments. What was that about the rich paying their “FAIR SHARE?”