President Barack Obama and his wife, Michelle, paid $162,000 in federal income taxes in 2011 on $845,000 in total income, according to tax returns released just ahead of the national income-tax-filing deadline.
The president's effective tax rate was 19%, compared with an effective tax rate of 14% for 2010 for the probable Republican presidential nominee, Mitt Romney. The campaign hasn't released Mr. Romney's 2011 tax return.
“So you think that money is the root of all evil?” said Francisco d’Anconia. “Have you ever asked what is the root of money? Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them.” … “Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?” - Atlas Shrugged
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