- Days left

Google Millionaire Tells Obama: 'Raise My Taxes, Please!'

×
Google Millionaire Begs Obama: 'Raise My Taxes' Tax increases on the wealthy, one of the most controversial issues currently facing the country, just got an outspoken defender: Google's 59th employee, Doug Edwards. On Monday, in a town hall meeting in Mountain View, Calif., President Obama called on a seemingly-anonymous member of the audience to ask a question. What happened next was surprising.





"Thank you, Mr. President," the man began. "I don't have a job, but that's because I've been lucky enough to live in Silicon Valley for a while and work for a small startup down the street here, that did quite well. So, I'm unemployed by choice. My question is: Would you please raise my taxes?"

The audience erupted in surprised laughter.

The man -- later identified as Edwards -- continued by offering a short list of the items that taxes fund, many of which have been central to economic development in the country: "I would like very much to have the country to continue to invest in things like Pell grants and infrastructure and job training programs that made it possible for me to get to where I am."

He went on to criticize the continuation of the Bush-era tax cuts: "It kills me to see Congress not supporting the expiration of the tax cuts that have been benefiting so many of us for so long. I think that needs to change and I hope that you'll stay strong in doing that."

Following Edwards' appeal, the pair engaged in a playful back-and-forth:

Obama, smiling, asked Edwards: "What was the startup, by the way. You want to give me a little hint?"

"It's a search engine." Edwards replied.

"Worked out pretty well, huh?," Obama smiled.

It isn't clear if Obama knew the identity of his anonymous supporter. About an hour after the event, Talking Points Memo reported, White House reporters identified the under-taxed gentleman as Edwards, Google's (GOOG) first director of consumer marketing and brand management. His memoir I'm Feeling Lucky: The Confessions of Google Employee Number 59, was released earlier this year.



Bruce Watson is a senior features writer for DailyFinance. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971.




Increase your money and finance knowledge from home

Advice for Recent College Grads

Prepare yourself for the "real world".

View Course »

How much house can I afford

Home buying 101, evaluating one of your most important financial decisions.

View Course »

TurboTax Articles

What is IRS Form 8824: Like-Kind Exchange

Ordinarily, when you sell something for more than what you paid to get it, you have a capital gain; when you sell it for less than what you paid, you have a capital loss. Both can affect your taxes. But if you immediately buy a similar property to replace the one you sold, the tax code calls that a "like-kind exchange," and it lets you delay some or all of the tax effects. The Internal Revenue Service (IRS) uses Form 8824 for like-kind exchanges.

What are ABLE Accounts? Tax Benefits Explained

Achieving a Better Life Experience (ABLE) accounts allow the families of disabled young people to set aside money for their care in a way that earns special tax benefits. ABLE accounts work much like the so-called 529 accounts that families can use to save money for education; in fact, an ABLE account is really a special kind of 529.

What is IRS Form 8829: Expenses for Business Use of Your Home

One of the many benefits of working at home is that you can deduct legitimate expenses from your taxes. The downside is that since home office tax deductions are so easily abused, the Internal Revenue Service (IRS) tends to scrutinize them more closely than other parts of your tax return. However, if you are able to substantiate your home office deductions, you shouldn't be afraid to claim them. IRS Form 8829 helps you determine what you can and cannot claim.

What is IRS Form 8859: Carryforward of D.C. First-Time Homebuyer Credit

Form 8859 is a tax form that will never be used by the majority of taxpayers. However, if you live in the District of Columbia (D.C.), it could be the key to saving thousands of dollars on your taxes. While many first-time home purchasers in D.C. are entitled to a federal tax credit, Form 8859 calculates the amount of carry-forward credit you can use in future years, not the amount of your initial tax credit.

What is IRS Form 8379: Injured Spouse Allocation

The Internal Revenue Service (IRS) has the power to seize income tax refunds when a taxpayer owes certain debts, such as unpaid taxes or overdue child support. Sometimes, a married couple's joint tax refund will be seized because of a debt for which only one spouse is responsible. When that happens, the other spouse is said to be "injured" and can file Form 8379 to get at least some of the refund.