Obama Releases Tax Returns

Candidate's 2007 Income $4.2 Million; Earnings Came Largely From Books

(AP)  Democratic Sen. Barack Obama and his wife, Michelle, made $4.2 million last year as widespread interest in the presidential candidate pushed the sales of his two books.

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.

[jack3213]

THERE IS NOTHING MORE PROFOUNDLY NAIVE THAN TO VOTE FOR A DEMOCRAT JUST BECAUSE THEY ARE ONE- AND NOT BECAUSE THEY ARE AT ALL QUALIFIED TO LEAD A COUNTRY. BETWEEN THE TWO OPTIONS THERE ISN''T AN OUNCE OF ABILITY TO CHANGE ANYTHING- ALL THE PROMISES THEY MAKE ARE IN VAIN-CHANGE COMES AT A PRICE AND THE PRICE IS TOO HIGH TO SACRAFICE GENDER OR RACE FOR THE SAKE OF EXPERIANCE.

[obama8years]

To Get an Excellent insight into Barack Obama Associates. Go to the CBS Search Box type "Bad Company" Here is a sample..... this is the intro, its amazingly Frightening.

Why is Barack Obama so comfortable around people who so despise America and its allies? Maybe it%u2019s because they%u2019re so comfortable around him.

He presents as the transcendent agent of %u201Cchange.%u201D Sounds platitudinous, but it%u2019s really quite strategically vaporous. Sen. Obama is loath to get into the details of how we should change, and, as the media%u2019s Chosen One, he hasn%u2019t had to.

But he%u2019s not, as some hopefully dismiss him, a charismatic lightweight with a gift for sparkling the same old vapid cant. Judging from the company he chooses to keep, Obama%u2019s change would radically alter this country. He eschews detail because most Americans don%u2019t believe we%u2019re a racist, heartless, imperialist cesspool of exploitation. The details would be disqualifying.

[obama8years]

Why doesnt Obama tell us what rev wright said to him that made him disinvite him. He wont tell us? Why?

Be Careful Who You VOte FORE

Research Obama Past and its *** right scary.

canadafreepress.com/index.php/ article/2462

Search CBS article for "Bad Company of Barack" click the link Opinion.

[abbe91]

"There was a great example of the differences between liberals and conservatives that happened today: Today George Bush hugs the Pope and Jimmy Carter hugs the leaders of Hamas. That tells you everything you need to know.
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.

[bsrbennett]

Blackspirit -- maybe you should associate with people who don''t abuse the capslock key.

[blackspirit3]

GUILT BY ASSOCIATION
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.

[robrob791]

omaar101 Guess what? Obama is not an african-american. he is a breed from the USA and nothing else.

[glock4me]

That''s a lot of money for a black man in the US-of-KKK-A!!!

[eroosevelt08]

Didn''t Senator Obama say in the debate April 16, 2008 that he would raise taxes on people who make over $97,000.00 and up to $200,000.00 by raising the amount of their income that is subject to the FICA tax? That is a big tax increase for many middle class people.


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!

[kstar42]

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. (WOW WHAT COLOR ARE THEY?) The Obamas'' largest charitable donation was $50,000 to the United Negro College Fund. (AGAIN WHAT COLOR ARE THEY?) HE SPENT 1/3 ON AFRICAN AMERICANS...GUESS WE KNOW WHAT HE''LL DO WHEN HE BECOMES PRESIDENT!!!!