Bush pays $187,768 in taxes - Mercedes-Benz Forum

LinkBack Thread Tools Display Modes
post #1 of 3 (permalink) Old 04-14-2006, 06:36 PM Thread Starter
BenzWorld Elite
firstmb's Avatar
Date registered: Jan 2005
Vehicle: 2006 ML350
Location: Chicago, IL
Posts: 1,434
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
(Thread Starter)
Bush pays $187,768 in taxes

No surprise that Dick makes more....!!


WASHINGTON (Reuters) - President George W. Bush and his wife, Laura, paid $187,768 in federal income taxes for the 2005 on total income of $618,694, the White House said on Friday.

Vice President Dick Cheney and his wife, Lynne, reported taxable income for 2005 that was more than three times that of the Bushes, $1,961,157, on which they owe $529,636 in federal taxes.

The Cheneys' adjusted gross income in 2005 was $8,819,006, which his office said was largely the result of the exercise by an independent gift administrator of stock options that had been irrevocably set aside in 2001 for charity.

The Cheneys had donated $6,869,655 to charity in 2005 from the exercise of these stock options under the terms of their gift agreement and from Mrs. Cheney's royalties from three historical books for young people.

Bush's 2005 income went down from the $784,219 in income from the 2004 tax year. His income included his $400,000 salary earned as president and investment income from the trusts in which their assets are held.

The White House said Bush and Mrs. Bush contributed $75,560 to churches and charitable organizations, including the American Red Cross' hurricane 2005 relief, the Salvation Army's hurricane relief fund and Pakistan earthquake relief, among other organizations.

During the course of 2005 the Cheneys paid $2,468,566 in taxes through withholding and estimated tax payments.

The wage and salary income reported on Cheney's tax return included his $205,031 government salary as well as $211,465 in deferred pay from Halliburton, the Texas energy company Cheney once headed, which has received billion-dollar government contracts in Iraq.

The deferred pay agreement dates back to December 1998 when Cheney decided to defer compensation earned in 1999 over five years for his services as chief executive officer of Halliburton. He had received $194,852 through this deal in 2004.

"The amount of deferred compensation received by the vice president is fixed and is not affected in any way by Halliburton's current economic performance or earnings," the vice president's office said. "This 2005 payment closes out the payments under the deferred compensation plan."

The tax return also reported Mrs. Cheney's royalty income from her book "A Time for Freedom: What Happened When in America," salary income from the American Enterprise Institute, and a director's retirement benefit from Reader's Digest, on whose board of directors she served until 2003.

Thanks, D.

2006 ML 350 - Black, Appearance Package, Navigation System, Entertainment Package, Sunroof Package, Heated Seats, IPod Integration
firstmb is offline  
Sponsored Links
post #2 of 3 (permalink) Old 04-15-2006, 01:02 AM
Will Moderate For Cigars
cmitch's Avatar
Date registered: Apr 2005
Vehicle: 2002 ML320, 2005 S430 4MATIC, 2010 F150 Crew Cab
Location: City on the TN River
Posts: 10,673
Mentioned: 3 Post(s)
Quoted: 200 Post(s)
Lifetime Premium Member
RE: Bush pays $187,768 in taxes

And you still hear people scream that the 'rich' don't pay taxes.

For every $10,000 in taxable income, my wife pays about $3,400. The breakdown:
14.4% Social Security and medicare tax
15% Federal income tax
5% State income tax
Everyone should have to pay their taxes in one lump sum to fully digest how immorally high taxes are in this country, especially considering the fact that federal income tax started "at only 1/4 of 1%" for persons making $4,000 a year in 1913! The average american did not pay taxes when the income tax code was established AND the tax was only on wages from employer to employee. Investment income didn't even count!
cmitch is offline  
post #3 of 3 (permalink) Old 06-12-2008, 11:25 AM
BenzWorld Junior Member
Date registered: Aug 2006
Posts: 20
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
The government was a lot smaller back then... Now we have all these programs where the government is trying to be everything to everyone - and failing at that - but making us all pay regardless.
MBTeen is offline  
Sponsored Links

  Mercedes-Benz Forum > General Mercedes-Benz Forums > Off-Topic

Quick Reply

Register Now

In order to be able to post messages on the Mercedes-Benz Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Please enter a password for your user account. Note that passwords are case-sensitive.


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:


  • Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
    Thread Tools
    Show Printable Version Show Printable Version
    Email this Page Email this Page
    Display Modes
    Linear Mode Linear Mode

    Posting Rules  
    You may post new threads
    You may post replies
    You may not post attachments
    You may not edit your posts

    BB code is On
    Smilies are On
    [IMG] code is On
    HTML code is Off
    Trackbacks are On
    Pingbacks are On
    Refbacks are On


    Title goes here

    video goes here
    description goes here. Read Full Story
    For the best viewing experience please update your browser to Google Chrome