The Obamas' tax return: A glimpse into the President's financial life
Filed under: Tax, Wealth, Charity
The Obamas' TY2007 returns reflected a gross income of $4.2 million, mostly from royalties on The Audacity of Hope and Dreams from My Father. Both memoirs got a big bump from Obama's campaign as millions of Americans rushed to bookstores to learn more about the mysterious man who was still many months away from securing his party's nomination for the presidency.
Taxes in the News
Nancy Lucke of Houston attends a tax day Tea Party at Jones Plaza Wednesday, April 15, 2009, in Houston. Thousands of protesters, some dressed like Revolutionary War soldiers and most waving signs with anti-tax slogans, gathered around the nation Wednesday for a series of rallies modeled after the original Boston Tea Party. (AP Photo/Houston Chronicle, Melissa Phillip)
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People take part in a tax day protest in Nashville, Tenn., Tuesday, April 15, 2009. (AP Photo/Mark Humphrey)
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Hundreds of people from southern New Mexico line Main Street in front of Thomas Branigan Memorial Library in Las Cruces, N.M., to protest taxes Wednesday, April 15, 2009. They were there for the Las Cruces Tax Day TEA -- Taxed Enough Already -- Party, said organizer Ruth Seiler. (AP Photo/Las Cruces Sun-News, Norm Dettlaff)
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Katie Mauldin, 52, traveled from Truth or Consequences, N.M., to gather with hundreds of others Wednesday, April 15, 2009, in front of Thomas Branigan Memorial Library in Las Cruces, N.M., for the Las Cruces Tax Day TEA -- Taxed Enough Already -- Party. "They're going to tax my kids and grandkids; (the federal government) needs to stop spending their inheritance," she said. (AP Photo/Las Cruces Sun-News, Norm Dettlaff)
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Nancy Lucke of Houston attends a tax day Tea Party at Jones Plaza Wednesday, April 15, 2009, in Houston. Thousands of protesters, some dressed like Revolutionary War soldiers and most waving signs with anti-tax slogans, gathered around the nation Wednesday for a series of rallies modeled after the original Boston Tea Party. (AP Photo/Houston Chronicle, Melissa Phillip)
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Former Republican House Speaker Newt Gingrich approaches the platform to address the crowd during a Tax Day Tea Party Wednesday, April 15, 2009 at City Hall Park in New York. Protesters gathered at state Capitols and in neighborhoods and town squares across the country Wednesday to kick off a series of tax-day protests designed to echo the rebellion of the Boston Tea Party. (AP Photo/Stephen Chernin)
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Former Republican House Speaker Newt Gingrich looks at the audience before speaking during a Tax Day Tea Party Wednesday, April 15, 2009 at City Hall Park in New York. (AP Photo/Stephen Chernin)
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Former Republican House Speaker Newt Gingrich speaks during a Tax Day Tea Party Wednesday, April 15, 2009 at City Hall Park in New York. Protesters gathered at state Capitols and in neighborhoods and town squares across the country Wednesday to kick off a series of tax-day protests designed to echo the rebellion of the Boston Tea Party. (AP Photo/Stephen Chernin)
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Former Republican House Speaker Newt Gingrich speaks during a Tax Day Tea Party Wednesday, April 15, 2009 at City Hall Park in New York. Protesters gathered at state Capitols and in neighborhoods and town squares across the country Wednesday to kick off a series of tax-day protests designed to echo the rebellion of the Boston Tea Party. (AP Photo/Stephen Chernin)
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Bruce Cerrone, in front holding sign, of Alexandria, Va., attends a rally in Lafayette Park near the White House in Washington, on Wednesday, April 15, 2009. (AP Photo/Jacquelyn Martin)
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In 2008, the Obamas made far less income. The two books raked in nearly $2.5 million in royalties, which bulk of their $2.7 million income. Barack Obama's paycheck from the U.S. Senate netted $139,204, and Michelle Obama earned $62,709 as an executive at the University of Chicago hospitals. The pair donated $172,050 to charities including CARE, the United Negro College Fund, and several churches -- excluding, notably, the Trinity United Church of Christ, led by the Obamas' once outspoken and now forsaken minister, Reverend Jeremiah Wright.
As tea parties raged nationwide yesterday, it's reassuring to be reminded that tax laws apply to everybody regardless of income, prominence, public position, or bona fides as limousine liberals. The Obamas' tax returns reflect an open, honest attitude toward paying one's debt to society. Here's hoping that cabinet members -- past, present, and prospective -- will take notice.



Reader Comments (Page 1 of 15)
4-16-2009 @ 2:49PM
ucefcu1 said...
Nice to see they are fairly generous with their Charitable Contributions. Too bad the Bidens are so uncaring they give 7/10 of 1 percent of their income to charity. Joe is very compassionate and generous with other people's money but not his own.
Reply
4-16-2009 @ 2:54PM
Bruce Watson said...
Ucefcu1-
Wow. You seem pretty desperate to find a way to go after the Dems. Presented with two completely honest tax returns, one of which demonstrates an impressive level of generosity, you feel the absolute need to go after Biden for his comparative stinginess. Really?
Excuse me while I take a deep whiff of eau de cheap politics.
4-16-2009 @ 3:05PM
Jason said...
Do you know what the problem with charity is? Everyone wants some...Americans are always looking for a handout. What the point that you seem to be missing is, if you earn the money you get to spend it how you want. If you want to give money away then work your ass off and make some money to give away. Bet you would keep it if you had the money too. Of course you refuse to work hard enough to make the money so you will always be able to say "well if I made big money I would give to charity". Bet the Bidens give more than you do so just be be glad that everyone is not giving as little as you are.
4-16-2009 @ 3:51PM
donald said...
you all that participated in this rally without your white hoods are totally cracked out. this is only a black and white matter to you all maybe another 8 years of a bush type president would be more your type and possibly cause ww3.
4-16-2009 @ 2:33PM
joe said...
Who writes this crap? They paid their taxes, and it shows an honest attitude? As compared to who? The rest of the Obama administration who are cheats and theives! And he gets all those perks and could only come up with 6% tithe to charity of which the largest was a wacko organization! He is no way Christian, he hasn't been to church for 3 months! What a hypocrite. And what a puff piece of crap writing!
Reply
4-16-2009 @ 3:02PM
Bruce Watson said...
Well, Joe, the Obamas are honest when as compared to a startlingly large number of wealthy people, both Democrat and Republican. And, for that matter, when you feel the need to comment upon Obama's Christianity, you might want to consider the words of Jesus Christ, who notably said "Why do you see the speck in your brother's eye but fail to notice the beam in your own eye?" (Matthew 7:3).
Or, if that doesn't do it for you, how about this:
"But thou, when thou prayest, enter into thy closet, and when thou hast shut thy door, pray to thy Father which is in secret; and thy Father which seeth in secret shall reward thee openly." Matthew 6:6
Matthew seems to be making a pretty clear case for maintaining a strong separation between one's religious worship and one's public face. In this context, it's hard to imagine how any self-professed Christian could criticize the Obamas' church attendance.
4-16-2009 @ 3:50PM
Kristen said...
Oh right, and you know so much about being a Christian right? You have no right to judge who is a Christian and who isnt. The fact that you are trying so hard to badmouth someone for being honest says a lot about you. You need to look in the mirror before trying to judge someone else. And guess what? Going to church does NOT make a person a Christian. Catholic priests go to church every sunday and some of them MOLEST little boys! But I guess you think they are the pinnacle of Christianity, huh?
4-16-2009 @ 3:55PM
Kate said...
Right on Joe. The way this article is written it makes it sound like the Obama's "made so much less" than the year before, as if they are hurting. No wonder they can contribute so much to charity -- the royalties from the year before were big bucks and the income in 2008 puts them in about the top 1% of the nation. Give me a break. My household is in the same income bracket and we pay our taxes dutifully and on time -- unlike most of the Obama cabinet. Obama and his family are just doing what they should be doing -- stop praising them for waking up in the morning and eating all their breakfast.....sheesh.
4-16-2009 @ 4:27PM
Chris said...
Last I checked being a Christian DOES NOT require one to attend a church! It requires that you have accepted Jesus Christ as your personal Savior. Many true Christians never attend an established church...and many people attending an established church are Christian in name only and are truly hypocrits who have not surrended to the saving blood of Jesus Christ. Why don't we let God do HIS job and let HIM keep track of the "Christian" list.
4-16-2009 @ 4:11PM
JonH said...
Wow, joe. You're obviously the one writing crap. You're comment is probably the single most idiotic thing I have read. However, you seem to be all knowing when it comes to Christianity, and you apparently believe you're more honest than Obama, so I assume you're an expert on him, as well. You're another one of those nuts who doesn't know what he's talking about, someone who just tries to badmouth Obama as a man just because you don't like him as a president. You run for president, and we'll see how many people like your stupid, retarted ass.
4-16-2009 @ 6:25PM
Teesha said...
Well said Joe!
4-16-2009 @ 7:36PM
Same old, same old said...
What happened to God? I thought He is on the Judgment Throne. When did you take over that duty? When you point your "finger of judgment" at President Obama or anyone else, look at your hand: 1 finger pointing at whoever you are judging, but 3 pointing right back at you! You give truth and meaning to these 2 old adages:
"It takes one to call one" AND "Don't judge others by yourself."
4-17-2009 @ 8:19AM
EG said...
What are you talking about? That is one irrational rant. Have you considered therapy?
4-17-2009 @ 8:50AM
Jessica said...
Bravo Joe.. It's funny to me how Obama never knew what Jeremiah Wright was saying until the media went crazy over it.. then all of the sudden he wants nothing to do with the church, after how many years of being a member? Yet he has made substantial contributions to the church, if you really wanna help somebody --feed some children, help the people trying to rebuild their lives after Katrina.
4-17-2009 @ 5:58PM
Dudley Haas (Wacko, Taxes) said...
After taxes, I netted over 2.8 million. My wife is getting her face lifted after I finish ironing out her wrinkles.
4-17-2009 @ 9:03AM
Dudley Haas said...
I belong to an organization in Wacko, Taxes. Last year, I netted over 2.8 million with my toupee. the B-9 on my 4-head has sprouted out and has grown another inch and three quarters over the last month. My wife desperately needs a face life. I iron out her wrinkles each day, and that has heled her appearance some.
4-17-2009 @ 9:21AM
jen said...
I AGREE!!!!!!!!! the journalism is just irking -- writer
should get on the staff w/Obama
4-17-2009 @ 9:35AM
linn said...
i could not have said it better .
So they paid their taxes.... good for them. Hope their prior years have been gone over with a fine tooth comb. Bet they owe so money from way back in his chicago neighborhood origanizer days.
Was that a real job?
And how does that qualify him to be president i will never understand. Lot of people drank the kool-aid.
4-17-2009 @ 11:36AM
rasil said...
Sounds like a tinge of jealously. Learn to spell berfore posting here. Perhaps Harvard could help you improve these skills. Who are you a hate monger to decide what is God's acceptable tithe? Maybe you are related to Cain.
4-17-2009 @ 10:37AM
newtoiowa said...
I agree wholeheartedly with what you said, joe; but would like to add a couple of comments. First of all, I noticed that Mr. Biden and his wife only gave "1%" to charity. Secondly, the Obama's have basically known for a year that his chances of getting elected were really, really, good. So, with his emphasis on appearances and public perception, it would be imperative for him to "sanitize" his taxes in order to complement his agenda. Thirdly, even though the majority of AOL members are middle and right-thinking people, the people who write for it, still cannot hide their very liberal bias.