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Obama to Clinton: Show Me Your Taxes

Barack Obama posted his and Michelle's tax forms yesterday, and it seems that their recent rise to fame has also brought a rise in fortune. From 2004 to 2006, the Obamas' combined income increased five-fold to just under $1 million: $983,826 (adjusted gross income). Must be nice. During this same period, from 2004 to 2006, the personal savings rate in the U.S. declined significantly, even dipping negative at the end of 2005—something that hadn't happened since the Great Depression.

This may stir doubts among cautious Obama supporters. Can Moneybags relate to the average American? However, in the battle over transparency with rival Hillary Clinton, this may be a winning move. HRC has positioned herself as the establishment candidate, which breeds a certain amount of resentment in itself, and her hesitancy to release her tax forms might only deepen the feeling. If she doesn't release them, she appears secretive (already a problem for her); but if she brings more media attention to her and Bill's wealth, she'll make Obama look like a regular working stiff.

—Jesse Finfrock






Comments

Given the nature of our system, I don't think anyone should be surprised that a politician of any prominence has a good deal of money. It's the only way to get elected anymore. Transparency is a much bigger issue here. If we were just talking about this year's return, ok, it's not past the deadline or anything. But years previous to that? What's the holdup? It's not helping her image. Better that she gets it out there and shows there's nothing to hide.

Posted by: JP on 03/27/08 at 6:07 PM  Respond

I would assume that if Obama stayed in the Senate for his complete term and possibly got re-elected, that he too would have accumulated quite a load of money and connections. It has been shown over and over again that the Senate is a private club and that if you aren't a millionaire when you get in, you soon are.
Please, what is the big deal about tax returns? HRC has been filing them for years as a member of the Senate--and when she has run for election. Does anyone have a cow over Teddy Kennedy's tax return? Just what does Obama hope to find in her and Bill's tax returns? That they've made a lot of money? Well, yeah. Almost every president has ended up richer after he retired. What is the big news about that?

Posted by: Rachele Levy on 03/27/08 at 7:14 PM  Respond

Under a million is low for a senator. Most have more than that, many are very wealthy.

Comparing income from the the three candidates Barack is the regular joe.

Would he be considered a better candidate if he had fifty or a hundred million? Worse is he had a hundred thousand?

BHO is the better candidate of the three and income has nothing to do with how I arrived at that opinion.

Yeah, I agree with capt-Hussein on this. This info doesn't ruffle my decision to vote for Obama.
I do think that Clinton's reticence to release her own, coupled with she and Bill's checkered past, is really fishy. What is she afraid of people seeing? I suspect she's afraid that the huge amount of wealth will act as a catalyst for further investigations of who many of her hidden donors are and perhaps the hidden donors for Bill's library. Money from members of conservative Christian groups or fundamentalist Muslim oil tycoons? Amazingly, this campaign has not only tarnished my view of Hillary but it has managed to throw a shadow over Bill that for me personally did not really exist before. Perhaps that's only due to the fact that the fallout of some of his worst work, i.e. NAFTA, is now so evident in our country, but the conniving and ruthless tactics they've used in the campaign are a major contributing factor to my utter disgust in the couple from Arkansas.

Posted by: Paul Miller on 03/28/08 at 4:53 AM  Respond

First – Who cares if he made money? Is that all bad? I would be suspect if he didn’t.

Second – What the Hell does a decline in savings have to do with this? Americans are idiots. They voted for Bush (twice), they thought the Iraq invasion was a good idea, they buy homes they can’t afford on speculation, they buy gas for huge vehicles helping to finance people who try to kill them and they spend more than they save. It just goes to show you how dumb people are. Obama being the opposite of that is only a plus!!!

And Rachel brings up a good point (by accident). “HRC”. What happened to the Rodham in Hillary Rodham Clinton? Doesn’t sell like Hillary Clinton, does it?

Posted by: kirkbrew on 03/28/08 at 5:54 AM  Respond

1) Mo’ money ≠ Mo’ Problems

2) Average Joes need not apply. This job needs a friggin superhero.

Posted by: mike on 03/28/08 at 7:58 AM  Respond

Moneybags? H. Clinton's net worth is still about 35 times the Obamas' combined.

Posted by: nic hussein on 03/28/08 at 8:13 AM  Respond

I think they're both very wealthy and very powerful. It's too bad we have to distinguish between the very rich and the super rich. Then there are the truly rich, which are in a class all by themselves. And we probably don't even know how much money the divinely rich have - it's all offshore.

Posted by: sal on 03/28/08 at 8:23 AM  Respond

Mr. Obama has SOLD alot of BOOKS he has written and landed with a windfall from them god bless!
OBAMA 08

Posted by: somegal on 03/29/08 at 12:49 PM  Respond

Just because someone doesn't love you the way you want them to,doesn't mean they don't love you with all they have.

Behind every successful man, there is a woman. And behind every unsuccessful man , there are two

Every man should marry. After all, happiness is not the only thing in life

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