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.
