‘I don’t enjoy writing checks to the Treasury Department any more than you do…’
“I always used to laugh when people would say about my tax policies: ‘He just wants to tax you to death,’” he said while appearing at the Qualtrics X4 Experience Management Summit. “First of all, I’m the guy who pays the max tax.”
He told audience members, who paid $1,399 for the two-day conference, that he doesn’t “enjoy writing checks to the Treasury Department any more than you do.”
The comments come during a heated debate about whether the wealthiest Americans are taxed enough, and as citizens file their taxes under the new White House tax code.
The new code was passed into law in December 2017 by President Donald Trump and what was then a Republican Congress.
Trump’s left-wing adversaries have criticized the new tax law as disproportionately benefiting the wealthy.
Recently, radical ideas on taxation have taken hold in parts of the Democratic Party.
Some, like Rep. Alexandria Ocasio–Cortez, D-N.Y., have suggested a new top marginal tax rate of 70 percent. Others, like Ocasio–Cortez’s anti-Semitic “squad” mate, Rep. Ilhan Omar, D-Minn., have floated a top tax rate of 90 percent.
Obama, whose tax policies may have seemed downright conservative by comparison, noted during the speech that he didn’t take any deductions when filing.
“I couldn’t exercise any loopholes,” he said. “Whatever the maximum rate is, I’m paying.”
The former president said he didn’t mind paying the high tax bill because he had been “so blessed by this country.”
“For me to be able to pay my fair share of sustaining this amazing nation so kids coming up behind me are going to have the same opportunities that I do, is something that I insist upon,” he pontificated.
In addition to taxes, Obama gave his opinion on what businesses need to do to attract younger clientele.
He said corporations need to be “socially responsible” or risk alienating young customers.
“If you talk to Malia and Sasha and their cohort, if you are a company that doesn’t care about non-discrimination and not having sexual harassment in your company, and is unconcerned about climate change, you are going to start losing customers at some point,” he said.