12/11/10

If US congressman Darrell Issa is worth about $303 million and makes about 5% of his net worth per year, could he charge every US child $12,000 to vote himself about $1,387,836 in Tax Cuts over two years?

If Darrell Issa, worth about $303 million, makes about $15.5 million per year*
and could save about $693,918 per year in taxes by voting for Obama's Tax Deal,
could Congressman Issa vote himself about $1,387,836 over two years?


………………………….................…Tax Cuts Extended…………….Tax Cuts Expired

Adjusted Gross Income……………$15,150,000*…………………$15,150,000*?

Tax Liability……………………...…..$5,265,721......................$5,959,639?

Average Tax Rate………………………..33.80%......................... 38.28%?

$5,959,639 – $5,265,721 = about $693,918 x 2 years = about $1,387,836?

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Tax Calculator

Tax Plan: Tax Cuts Extended vs. Tax Cuts Expired
Tax Year: 2011
AMT Patch not in effect

$900,000,000,000 / 75,000,000 Kids = $12,000 per American Child?


$15,150,000 income estimate*  = 5% of $303 million?