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Obamas' tax bill $103,000 more without Bush cuts

(CNS News) If the Bush tax cuts hadn’t been extended and the president hadn’t chosen to employ those tax breaks he despises so much, Pres. Obama could’ve paid $103,067 more in taxes than he actually did for 2011. And, with the help of a government website, he could still pay it, anyway.

The White House reported today that the Obamas has adjusted gross income (AGI) of $789,674 in 2011, on which they paid $162,074 in federal taxes. That works out to a tax rate of 20.5% of AGI.

Without using any type of credits to reduce the taxes paid on their AGI, at the current rate, that would make the Obamas’ tax liability $246,257.