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.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

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It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

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Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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