They got a refund - LOL! Which they applied to next year's taxes, but still a refund of $24.5K is more than some people earned.
They paid $162K in taxes on almost $790K in income. That's a 20% effective tax rate, which I think is pretty high (and he thinks it should be higher?!?!?!) - especially since we're not counting other taxes that are paid like property taxes, sales taxes, state taxes and Social Security / Medicare.
By contrast, our effective federal tax rate was 7.6% (the lowest we've paid in years). If you count state, property, sales, and Social Security / Medicare we usually pay about 16%.
I think it was funny that Obama got hit by the alternative minimum tax and the self-employment tax.
