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MONTHLY ARCHIVES
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The Taxman Cometh for the Obamas and Bidens As Well
April 15, 2009 5:31 PM
ABC News' Jake Tapper and Karen Travers report:
President and first lady Obama released their 2008 federal income tax returns today.
The Obamas filed their income tax returns jointly and reported an adjusted gross income of $2,656,902, paying $855,323 in federal income taxes and 77,883 in state income taxes.
By clicking on these links, you can see the Obamas' 1040 form, their 709 form, and their Illinois State Income Tax Return form.
The vast majority of the family’s 2008 income comes from proceeds from the sale of the president’s books, Dreams From My Father and The Audacity of Hope.
The president and first lady donated $172,050 –- or about 6.5 percent of their adjusted gross income -– to 37 different charities.
The biggest donations were $25,000 contributions to CARE and the United Negro College Fund, but other charities included AIDS Alliance for Children Youth & Families, American Red Cross, Apostolic Church of God, Book Worm Angels, Boys and Girls Club, Bread for the City, Brookland Baptist, Brown A.M.E. Church, Catholic Relief Services, Central Illinois Food Bank, Chicago Coalition for the Homeless, Citizens United for Research in Epilepsy, the president's alma mater Columbia University, Crusade of Mercy, Direct Relief International, First Lutheran Church, Greater Chicago Food Depository, Haiti Foundation of Hope, Illinois Coalition Against Sexual Assault, Illinois Head Start Association, Illinois Reading Council, Juvenile Diabetes Research Foundation, Martin Luther King National Memorial Project, Midtown Educational Foundation, Mujeres Latinas En Accion, National Coalition for Homeless Veterans, National Congress of Black Women, National MS Society, New Orleans Areas Habitat for Humanity, Ovarian Cancer National Alliance, Rochelle Lee/Boundless Readers, St. Leo's Residence for Veterans, St. Luke's united Methodist Church, The Christopher House, United Negro College Fund and United Way of Galveston.
Vice President and Dr. Jill Biden reported an income of $269,256 last year -- after taxes that comes to $183,315. They paid $46,952 in federal income taxes and $11,164 in Delaware state income taxes.
Click on the following links to see their federal returns and their Delaware State returns.
The Bidens donated $1,885 to charity, or about 0.7 percent of their adjusted gross income.
Getting ahead of the criticism that may come because of that, the VP’s office says: “The charitable donations claimed by the Bidens on their tax returns are not the sum of their annual contributions to charity. They donate to their church, and they contribute to their favorite causes with their time, as well as their checkbooks.”
Last September, Biden released 10 years of tax returns and reported a total of $3,690 in charitable donations -- or 0.2 percent of their income over the decade. Biden campaign spokesman David Wade had a similar response at the time, noting that the Bidens' donated their time to their favorite charities including ones that support military families and Gulf Coast recovery efforts.
-- Jake Tapper and Karen Travers
April 15, 2009 | Permalink | Share | User Comments (189)
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About the tax returns, am I imagining it or are the names of the foreign countries from which they received income and to which they paid taxes... blacked out? Is that typical?
Posted by: Anne Lieberman | Apr 18, 2009 7:10:58 AM
"Stay Optimistic - It is early days yet. I have confidence in the President's vision for the Country and likewise I am optimistic about my vision for my self"
To paraphrase Field Marshal Rommel: "Yes, you can afford to be optimistic...I can't."
This spending isn't something that years from now when it doesn't work we can just shrug our shoulders and say, "Oh well, at least we gave it the old college try."
Somebody, somewhere down the line is going to start crying on the campaign trail about how 'something must be done about this out of control budget!!!'...and folks will nod and agree, forgetting who/what brought it about in the first place.
And we'll see higher taxation...if that's possible given what they're doing to us already.
Perhaps those who pay little or no income tax are willing to gamble with the rest of our incomes and jobs?
Posted by: RR GOP | Apr 16, 2009 11:45:18 PM
I have often wondered how the last President before President Obama came to power - I think I now understand what is going on
A lot of individuals appear to have lost direction and they are all indirectly relying on the Government to give them a guideline.
You are fortunate to have someone like President Obama and if you TEA party recipients check on what advantages can be taken up on his legislation instead of wasting precious time and while you are at it - don't forget to do your tax returns and pay up. We need your cash to get the Country moving again. We have got to pay for all the previous commitments and set out a positive vision. We need money to create all the good jobs etc.
Stay Optimistic - It is early days yet. I have confidence in the President's vision for the Country and likewise I am optimistic about my vision for my self
Posted by: Compassionate Capitalist | Apr 16, 2009 6:40:05 PM
"You are missing the whole point with your blind defense of the rich democrats in power."
My blind defense was debunking your right wing lies.
"All I was demonstrating with my mention of the private jets and ultra-rich democrats in power is that they are hypocrites."
Yes its an old right wing talking point that the rich can't care for the poor.
Or that wealth disqualifies one from acting in the working class's interest.
Its BS.
"The liberals use saul alinsky's tactics of pushing their socialist policies through"
ROFLMAO!
You really have no idea who Saul Alinsky was or what his tactics are.
Posted by: Ryan C | Apr 16, 2009 6:16:01 PM
Kat 5 - I call your tone jealousy -
The dog was a gift by the way and isn't it adorable.
Enroll in school and get an education
Posted by: Pammy | Apr 16, 2009 6:00:57 PM
the thing i've always found odd about liberals' approach to money is that it is, at one and the same time, the cause of and answer to all our problems. why is everything going to hades in a handbasket? because of money. what's the way to keep us out of the handbasket? throw money at the problem. there is no doubt something oxymoronic about a left-wing multimillionaire. that's about on par with the absurdity of gay republicans. it would appear that both groups consist of people who are apparently idiologically opposed to their own lifestyles. very weird.
Posted by: davidfrat21 | Apr 16, 2009 5:32:25 PM
Ryan C
You are missing the whole point with your blind defense of the rich democrats in power. All I was demonstrating with my mention of the private jets and ultra-rich democrats in power is that they are hypocrites.
Hollywood, al gore, clintons, obamas, pelosi, kennedys, are all MULI-MILLIONAIRES who make a living out of bashing MULTI-MILLIONAIRES. Honestly, how can you not understand that?
They make a living out of bashing the free market, wealthy Americans, and convincing the ignorant masses that they are too stupid to make it without their help.
The liberals use saul alinsky's tactics of pushing their socialist policies through, all the while racking up large personal net-worths along the way.
Posted by: Dave | Apr 16, 2009 5:32:15 PM
Coffee Party we need to organise and campaign- Too little tax and Charitable donations LOL
All you..............go free yourslves instead of sending off all the tea bags. Spend less and live within your means- you might perhaps break free from being taxed so heavily and start reaping dividends.
Go and do your homework and figure out who is looking out for for your good in the long term
Mr President, I do appreciate your contribution - I hope more will follow your example and pay their taxes and give generously.
Posted by: Pammy | Apr 16, 2009 5:31:42 PM
"Okay, then useing your logic, the actual number of rich dems is equal to the number of rich repubs."
Or you can actually look up the numbers vs just guessing.
Based on 2007 financial disclosure in the Senate 7 of the 10 richest Senators were Democrats while 13 of the top 25 were Democrats.
In the House, 4 out of the top 10 richest Congressman were Democrats, 9 out of the top 25.
"republicans support a free market system where profit is based on ability and effort."
Republicans favor little regulation or oversight in a belief that the invisible hand of the market will solve all.
We now know that is a recipe for disaster.
Posted by: Ryan C | Apr 16, 2009 4:40:35 PM
Flash--"There could be no such thing as landed property originally. Man did not make the earth, and, though he had a natural right to occupy it, he had no right to locate as his property in perpetuity any part of it;"--- again this excerpt was written to dipose the GOVERNMENTS authority to maintain land "in perpetuity" against is rightful owners (the citizenry). This would have served well as an argument against Imminent Domain issues more than it would have against any issues of private ownership including the passage of held lands to subsequent generations. To read it any other way would be to summize that Paine felt that any land held by private citizens should revert to the government upon their death. I hardly think he would have garnered much support from the populus had this been the message he was conveying..
Posted by: arkie vet | Apr 16, 2009 4:29:48 PM
Flash--"It is only by organizing civilization upon such principles as to act like a system of pulleys, that the whole weight of misery can be removed."
____________
What you fail to see is that while Tomas Paine understood the need of organized charities to impact a sociatial problem, his point was that PRIVATE organization (free from government intervention) could do the most good. This was NOT an advocation of a government run welfare state. Far from it, as most of his doctrinal writings advocated a separation of government from private interests and activities.
Posted by: arkie vet | Apr 16, 2009 4:20:59 PM
Ryan C--"Probably because its a useless statistic given how large an edge in members of Congress the Democrats have (they hold nearly 60% of the seats)."-- Okay, then useing your logic, the actual number of rich dems is equal to the number of rich repubs.. the difference it this.. republicans support a free market system where profit is based on ability and effort. Democrats thrive on telling the "common man" that the wealthy are the cause of problems that the country faces. Its seems pretty apparent, especially in light of recent events that today's democrats enjoy the same level of wealth as republicans but seem to be the only party to condemn the other side for the same level of wealth that they enjoy. I find it hard to stomach the fact that a president who madeover 2 million last year is outraged that some execs took 1 million dollar bonuses to stay on at a failing company (AIG) long enough to right the ship before they collect their pink slips and depart. I find it even MORE deplorable that Barney Frank and company violated the constitution in assessing a 90 percent tax on the 160 million in bounuses at AIG but said not a word about the 200 million in bonuses handed out to Fannie Mae execs even though Fannie is far more responsible for our current situation than AIG is.. (Maybe he wasn't upset with fannie becasue of the 400,000 he received from them). The hypocracy of this administration and teh democratically controlled congress is far worse than who is or isn't "rich"...
Posted by: arkie vet | Apr 16, 2009 4:15:13 PM
You will also never hear that 300 private jets landed in washington dc for bush's ingaguration in 2000, and over 600 landed in 2009 for barry o's."
You can't even get the figures for your stupid talking point right
"Hamilton’s Metropolitan Washington Airports Authority is expecting 500 small jets to land at Dulles between yesterday and Jan. 21. That would set a record, topping the 300 the airport accommodated for President George W. Bush’s 2004 inaugural, Hamilton said. "
Posted by: Ryan C | Apr 16, 2009 3:53:53 PM
"This carefully-crafted strategy has led to the wealthiest members of congress having (D)'s in front of their names. In fact, more then half of all the millionaires in congress are democrats, but i am sure you will never hear that mentioned on cnn."
Probably because its a useless statistic given how large an edge in members of Congress the Democrats have (they hold nearly 60% of the seats).
But I bet you heard it on FoxNews.
They thank you for your gullibility.
Posted by: Ryan C | Apr 16, 2009 3:52:04 PM
The obamas are your typical "limousine liberals". They love to tell everyone that rich people are evil, but somehow their own stockpiles of cash just keeps growing and growing.
Liberal politicians make a living off of people being poor. They brainwash the idiotic masses into believing that they can not succeed without their help in washington.
This carefully-crafted strategy has led to the wealthiest members of congress having (D)'s in front of their names. In fact, more then half of all the millionaires in congress are democrats, but i am sure you will never hear that mentioned on cnn. They truly are champions for the poor-ha!
You will also never hear that 300 private jets landed in washington dc for bush's ingaguration in 2000, and over 600 landed in 2009 for barry o's.
Why weren't the global warming nuts screaming about that? I think the answer to that is pretty obvious.
Posted by: Dave | Apr 16, 2009 3:27:31 PM
i would think that someone making $2.6 million a year who is wedded to redistributing wealth would be fessing up a bit more than 7% of his annual income. he could have given away 2/3 of his income and still had nearly $900,000 left over. he's sure a lot more "charitable" with the taxpayers' money than he is with his own.
Posted by: davidfrat21 | Apr 16, 2009 1:25:55 PM
if $250,000 a year makes one "rich," at $2.6 million a year, what does that make obama...an ultra-rich capitalist pig?
Posted by: davidfrat21 | Apr 16, 2009 1:16:42 PM
VERY charitable people!
Posted by: Hege321 | Apr 16, 2009 11:26:01 AM
Jill B.'s Coin accessories are worth more than their gross annual income.
Posted by: DontGet818OnMeNow | Apr 16, 2009 8:48:16 AM
"There are, in every country, some magnificent charities established by individuals. It is, however, but little that any individual can do, when the whole extent of the misery to be relieved is considered. He may satisfy his conscience, but not his heart. He may give all that he has, and that all will relieve but little. It is only by organizing civilization upon such principles as to act like a system of pulleys, that the whole weight of misery can be removed."
~Tom Paine
... who goes on to advocate establishment of social security, for both the elderly and the young, abolishment of inheritance and the landed monopoly. Further,
"There could be no such thing as landed property originally. Man did not make the earth, and, though he had a natural right to occupy it, he had no right to locate as his property in perpetuity any part of it; neither did the Creator of the earth open a land-office, from whence the first title-deeds should issue."
While the founders were in general of the better off classes, it was Paine's arguments which persuaded the ordinary Americans to fight.
Posted by: Flash Override | Apr 16, 2009 8:16:01 AM
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