They pay taxes too... - DFWstangs Forums
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post #1 of 6 (permalink) Old 04-11-2008, 11:21 PM Thread Starter
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They pay taxes too...

WASHINGTON – The federal tax bill for President Bush and his wife: $221,635.

That's how much the Bushes owed on their 2007 adjusted gross income of $923,807, according to a joint return released Friday.

The Bushes have paid $203,894 so far, which means they'll need to break out the checkbook – they owe the government $17,741.

Their income total includes a $150,000 advance received by Laura Bush for the children's book she co-authored with her daughter, Jenna.

Last year, the president and Mrs. Bush paid $186,378 in federal taxes on their income of $765,801.

Mr. Bush's salary as president is about $400,000.

The White House also reported that Vice President Dick Cheney and his wife, Lynne, had an adjusted gross income of $3.04 million in 2007.

The Cheneys owed $602,651 in federal taxes on that income. They have paid $466,165 through withholdings and estimated tax payments, and will pay the remaining $136,486.

The Cheneys' income includes the vice president's salary, about $212,000, and a pension he gets as a former director of Union Pacific Corp. It also includes Lynne Cheney's book royalty income, her salary from the American Enterprise Institute and a pension she gets as a former director of Reader's Digest.


Now, the interesting thing... maybe a CPA can help me... if you don't pay 90% of your taxes in a given year, when due, don't you have a penalty? If so, it appears the Cheney clan may owe some penalty and interest. Although I guess they get a break if they paid at least 110% of what they paid last year.

My 401K is now a 400K (was 301K)

Last edited by 01WhiteCobra; 04-11-2008 at 11:27 PM.
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post #2 of 6 (permalink) Old 04-11-2008, 11:36 PM
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It's a well known fact he still has his hand in the cookie jar at UP, but all politicans are in bed with the railroads. Do a search and its amazing how many politicans have worked for the railroad or have crossed paths with them in questionable circumstances.

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post #3 of 6 (permalink) Old 04-11-2008, 11:38 PM
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Damn, Cheney is ballin'

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post #4 of 6 (permalink) Old 04-12-2008, 06:20 PM
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This is only what they report...

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This will help everyone out, check it.
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post #5 of 6 (permalink) Old 04-12-2008, 08:24 PM
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Originally Posted by Zarathustra
This is only what they report...

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post #6 of 6 (permalink) Old 04-12-2008, 08:28 PM
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Originally Posted by Zarathustra
This is only what they report...

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