Obama Releases Tax Returns
Candidate's 2007 Income $4.2 Million; Earnings Came Largely From Books
-
Photo Essay
Barack Obama
A look at the life and meteoric rise of the president-elect.
In tax returns the campaign released Wednesday, the Obamas reported a significant jump in their income from the previous year as profits from the books "Dreams From My Father" and "The Audacity of Hope" accounted for some $4 million. The Obamas paid federal taxes of $1.4 million and donated $240,370 to charity.
Their salaried income was $260,735, which included his $157,102 salary as a U.S. senator and hers of $103,633 as vice president of community and external affairs at the University of Chicago Medical Center.
For part of 2007, Michelle Obama collected a salary for serving on the board of Westchester, Ill.-based TreeHouse Foods Inc., which produces pickles, nondairy powdered creamer and other products. She resigned in May after two years on the board.
The position had generated some complaints because TreeHouse is a supplier to Wal-Mart, and Barack Obama has criticized some of Wal-Mart's policies and treatment of employees.
The Obamas reported $29,443 from Treehouse Foods.
In 2006, Obama and his wife reported income of $991,296. The sum included Obama's Senate salary of $157,082 and his wife's earnings of $273,618 from her position as an administrator at the University of Chicago Medical Center. Michelle Obama also earned $51,200 in director's fees from TreeHouse Inc., a food distributor.
They paid $277,431 in federal taxes an overpayment of $40,856, which they designated for estimated tax payments this year.
Among the charitable donations in 2007 was $26,270 to Trinity United Church of Christ, where the incendiary sermons of Obama's former pastor have created problems for the candidate. The Obamas' largest charitable donation was $50,000 to the United Negro College Fund. They also gave $35,000 to CARE.
The campaign released the returns just hours before a candidate debate with rival Sen. Hillary Rodham Clinton.
By comparison, Clinton and her husband, the former president, reported $20.4 million in income for 2007. Almost half the former first couple's money came from Bill Clinton's speeches. The Clintons made nearly $109 million since leaving the White House in 2001, capitalizing on lucrative business ventures and his speaking engagements.
Likely Republican nominee Sen. John McCain has not released his tax returns for 2007. McCain is routinely ranked among the richest senators, but a prenuptial agreement has kept most assets in his wife's name. As heiress to her father's stake in Phoenix-based Hensley & Co., a beer distributor, Cindy McCain is an executive whose worth may exceed $100 million.
The release of the returns comes as Obama has fought criticism that his comments about bitter voters in small towns smack of elitism. Campaigning in Indiana on Wednesday, Michelle Obama rejected that characterization, pointing out that the couple were fortunate enough to pay off their academic loans because of her husband's two books.
Barack Obama graduated from Columbia University, Michelle Obama from Princeton. Both attended Harvard Law School.
"I am a product of a working-class background, I am one of those folks who grew up in that struggle. That is the lens through which I see the world," Michelle Obama said, referring to her family that lived on the South side of Chicago on her father's city salary.
You can see the Obamas' 2007 returns here.
©MMVIII, The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.




- 1
- 2
- next
See all 53 CommentsNOBAMA 08
Maybe Obama can get all of our spouse''s employers some shady money so we can all get 200k per year raises!! Economic woes be gone!!
NOBAMA 08,...or ever!!
They had to drop that little money pot fast, didn''t they? ROFL!
Just a little extra pocket change there!
____________________________________________
It was like the next day after he made those comments in the debate,..she resigned!! Go to www.stop-obama.org or www.obama-truth.org and hear the whole story!! Disgraceful!!
260,000 dollar earnings for Mr. & Mrs. Obama. Its no wonder that Hillary thinks Obama and the People are so inferior to her. The Clintons have lost touch with Reality.
35 years the Clintons have been living the AMERICAN SCHEME while the rest of us have been busy working for the AMERICAN DREAM and paying their way. SO SAD!
Seems about right with book earnings,I Cant and still waiting for the Clintons 2007 tax returns, They only show us dating back. It will make Obama earnings look like tips.. and then have the nerve to call him a ELITIST. still cant get over that; its truly funny.
It sure left a lot of it out.
I''ll take it his tax return is all square then.
BUT, MICHELLE OBAMA WAS PAID FOR SERVING ON THE BOARD OF WESCHESTER, IL. BASED "TREEHOUSE FOODS INC." WHO IS A MAJOR SUPPLIER TO WAL-MART." IMAGINE THAT.
OBAMA SAY''S HIS CAMPAIGN DOES NOT ACCEPT PACT MONEY, AND CLAIMS HE IS THE ONLY CANDIDATE THAT ISN''T TAKING A DIME FROM WASHINGTON LOBBYIST, "YET HIS FUNDRASING TEAM INCLUDES 38 MEMBERS OF LAW FIRMS THAT WERE PAID 138 MILLION LAST YEAR TO LOBBY THE FEDERAL GOVERNMENT.
THESE LAWYERS, INCLUDES 10 FORMER FEDERAL LOBBYIST HAVE PLEDGED TO RAISE AT LEAST 3.5 MILLION FOR THE OBAMA PRESIDENTIAL BID. EMPLOYEES OF THEIR FIRMS HAVE GIVEN OBAMA''S CAMPAIGN 2.26 MILLION.
OBAMA''S CAMPAIGN HAS BASHED THE CLINTON''S FOR MAKING MILLIONS ON BOOK SALES. YET, THE OBAMA''S MADE THE MAJORITY OF THEIR "REPORTED" INCOME ON BOOK SALES. IMAGINE THAT.
GOTTA LOVE IT. AND THEY SAY THAT CLINTON CAN''T BE TRUSTED.
GOD "BLESS" AMERICA. NOT "G D" AMERICA.
AMERICA IS NOT THE TELL-LIE-VISION SHOWS "FRIENDS, EVERYONE HATES RAYMOND OR SIENFIELD." IF YOU DO NOT KNOW THIS YOU SHOULD NEVER BE ALLOWED TO VOTE.
THE MEDIA ALWAYS SPIN FALSE TAILS AND LIKE SOFT MINDED FOOLS MANY AMERICANS FALL ALL OVER IT AS THE TRUTH.
THAT SAME HATE THE MEDIA SPINS IS THE SAME HATE THAT SOUTHERN WHITE MEN USED WHEN RUMORS WAS SPREAD THAT EMMIT TELL LOOKED AT A WHITE GIRL AND/OR SPOKE TO HER. THE "STORY/RUMOR" WENT FROM "HE SPOKE TO HER TO HE TOUCHED HER TO HE RAPED HER.
THE SPIN CAUSED WHITE MEN TO HANG AND BURN EMMIT TILL.
WHAT IS THIS MEDIA SPIN TRYING TO GET AMERICANS WORKED UP TO DO TO OBAMA? %u2013 KILL HIM? LIKE MARTIN LUTHER KING WAS MADE TO BE UNAMERICA - AND THEN KILLED, LIKE BOBBY KENNEDY OR LIKE JOHN F KENNEDY WHO WANTED TO END THE WAR?
THESE MEN CAME BEFORE THE AMERICAN COUNTRY WITH DIFFERENT VIEWS, AND OPINIONS, AND YET AMERICANS MURDERED THEM, NOT RUSSIANS, NOT ARABS, NOT TERRORIST, OUR OWN CITIZENS KILLED THESE MEN.
STOP ALOWING THE MEDIA TO WORK YOU UP OVER LIES AND CONFUSION.
1. EVERYONE MISPEAK AT TIMES. MOTHER POPED YOU IN THE MOUTH ON MANY OCCASSIONS FOR MISPEAKING.
2. ASSOCIATING YOU WITH ALL THE WORDS AND DEEDS OF FREINDS, BOARDMEMBERS, LODGE MEMBERS, CHURCHES, OR CO WORKERS IS GARBAGE SO WHY GET ALL WORKED UP OVER THIS FALSE MEDIA HYPE? I SAY TURN THE MEDIA OFF, AND TURN YOUR MIND ON.
GOOD POST. BUT, YOU SHOULD INCLUDE CLINTON IN THIS STATEMENT. ONLY THE OBAMA SUPPORTERS ARE CALLING FOR CLINTON TO DROP OUT OF THE RACE, 54% OF DEMOCRATES SAY SHE SHOULD STAY IN THE RACE TO THE END.OBAMA SUPPORTERS ARE BASHING EVERY "MIS-SPEAK" THAT SHE SAY''S.
I REMEMBER VIVIDLY THE SCENE IN THE L A RIOTS WHERE THOSE WORKED UP BLACKS DRAGGED THAT WHITE TRUCK DRIVER OUT OF HIS TRUCK, (WHO WAS JUST TRYING TO MAKE A LIVING FOR HIS FAMILY) AND NEARLY BEAT HIM TO DEATH. I GUESS THATS OK, BECAUSE THEY WERE JUST "BITTER".
RACISM IS A TWO SIDED SWORD. OBAMA SAY''S LET''S DISCUSS IT. WHEN WHITES BRING THE SUBJECT UP, THEY ARE RACIST, AND "BITTER."
GOD "BLESS" AMERICA. NOT "G D" AMERICA.
Posted by robrob791 at 09:54 AM : Apr 17, 2008"
The caps lock doesn''t make your post any LOUDER, it just makes it look like you really don''t have a point so you are trying to IMPRESS everyone with your ability to post in caps.
If you had bothered to read the article you might have noted that they used the book money to pay off their student loans. Most people who go to college rack up enormous debt that takes years to pay off, you''d know that if you had a student loan but then you''d have to have gone to college to have one of those.
Posted by dante805 at 07:55 AM : Apr 17, 2008"
If he had wanted to make money off his Havard education he certainly took the hard route to do it. As the President of the Harvard Law Review, Obama could have taken any job at any law firm in the country and written his own check. If he really was only interested in getting rich he could have done so very easily. Instead, he took a job working for a small law firm doing community work, not a very lucrative career choice.
Posted by jack3213 at 07:20 AM
Cool it with the caps-lock. We''re not blind. Secondly, in order to finish this thing in Iraq succesfully, we have to make a more measured attempt to get the H ell out of there! The problem with those of you who support the current admin. is that you assume that the majority of this country is stuck on stupid! You don''t think we see how in Iraq, the goal post keeps moving farther and farther away. First let''s go get Saddam! Got ''em. WMD''s are there...let''s get ''em! Oops...there''s nothing there. Help form an Iraqi govnmt! Done. yet after all of this you still have the audacity to expect more sacrifice from our bravest, and for what? What''s the goal now? A self sustaining Iraq? What the H ell does that mean? What good could possibly come from us policing their civil war? Tone down your imappsioned pleas to avoid surrender, and get with reality. We have a moral obligation to help rebuild, but not settle their religous disputes. Tell me...what is victory? And how many more of our bravest are worth trying to accomplish it? We have probably lost more soldiers to this debacle tahn we would have lost had we been attacked again. It''s just basic cost analysis, as heartless and cruel as that may be, yet it may be the only way to get the message across to the likes of you.
for example, his real estate dealings with Rezko
or other buddies of his, such as Jeremiah Wright or the Weathermen, or maybe Nation of Islam President Louis Farrakhan.
Bill Clinton,in 1991 was a Bitter, Self Hating, White Racist & White Elitist, when he was running for the Oval Office..Huh
Bill and Hillary are Filthy Rich Elitist with all that Arab Money, they have Now..Huh
As the rumination continues over Barack Obama''s comments about economically-depressed small town voters, statements made by Bill Clinton on the same topic -- uttered while he was running for president in 1991 -- have now surfaced.
Bill Clinton: "The reason (George H. W. Bush''s)Tactic works so well now is that you have (All these Economically Insecure White People) who are Scared To Death," Clinton was quoted saying by the Los Angeles Times in September 1991.
A couple months later, Joe Klein, writing for the Sunday Times, reported that Clinton made the following remarks:
Bill Clinton: 1991 "You know, he [Bush Sr.] wants to Divide US Over RACE. I''m from the South. I understand this.
When their economic policies fail, when the country''s coming apart rather than coming together, what do they do? They find the (Most Economically Insecure White Men) and Scare the Living Daylights out of them !!
/bill-clinton-flashback-al_n_96433.htmln
You Rural Gun Toting, Clinging to your Faith People must Go out and Vote for Hillary Clinton...Please
You Low Lifes are the Biggest Social Joke on the Planet !!
Just Scared as He!! of a Afro American Male whose Winning...Scared To Death !!
Bill Clinton,in 1991 was a Bitter, Self Hating, White Racist & White Elitist, when he was running for the Oval Office..Huh
Bill and Hillary are Filthy Rich Elitist with all that Arab Money, they have Now..Huh
As the rumination continues over Barack Obama''''s comments about economically-depressed small town voters, statements made by Bill Clinton on the same topic -- uttered while he was running for president in 1991 -- have now surfaced.
Bill Clinton: "The reason (George H. W. Bush''''s)Tactic works so well now is that you have (All these Economically Insecure White People) who are Scared To Death," Clinton was quoted saying by the Los Angeles Times in September 1991.
A couple months later, Joe Klein, writing for the Sunday Times, reported that Clinton made the following remarks:
Bill Clinton: 1991 "You know, he [Bush Sr.] wants to Divide US Over RACE. I''''m from the South. I understand this.
When their economic policies fail, when the country''''s coming apart rather than coming together, what do they do? They find the (Most Economically Insecure White Men) and Scare the Living Daylights out of them !!
He forgot to include the millions of dollars in sales of Kool-Aid
Now that the debate is over, two-faced Senator Obama is whining. If things don''''t go his way he whines about it. We need a grown up as President. Vote for Senator Clinton!
1 ATTEND A CHURCH AND A COUPLE GAY PEOPLE ATTEND THE CHURCH,SO THEREFORE I SUPPORT GAYISM?
I ATTEND A COUNTRY CLUB AND THEIR ARE INDIVIDUALS WHO HAVE STOLEN MONIES FROM INVESTORS, SINCE I ATTEND THE SAME COUNTRY CLUB - I TOO MUST BE A THIEF?
I WORK FOR A COMPANY WHO DISCRIMINATE AGAINST HIRING PEOPLE OF COLOR, BECAUSE I WORK FOR THAT COMPANY, I DISCRIMINATE AGAINST THEM AS WELL?
I SIT ON A BOARD OF 30 PEOPLE AND ONE OF THEM SAY "AMERICA CAN GO TO HELL" IF I STAY ON THAT BOARD, I SUPPORT THAT INDIVIDUALS IDEA''S ABOUTM AMERICA?
SOMEONE HELP ME DEFINE WHAT THE HELL IS GUILT BY ASSOCIATION, BECAUSE ALL AMERICANS ARE ASSOCIATED WITH IDIOTS.
Posted by JACK3213 at 01:16 PM : Apr 17, 2008"
The pope is too old to protect himself from Bush hugs. We knew Bush is a coward.
- 1
- 2
- next
See all 53 Comments