Thursday, April 17, 2008

Re: Taxes, taxes

Barack Obama wrote a $1 million check to the IRS on April 15.

Today he released his 2007 joint tax return. He and his wife Michelle earned $4,139,965 in 2007 and paid 1,396,772 in federal taxes, with $1,059,826 in the “Amount You Owe” box. That has got to be just a little bittersweet.

On the strength of almost $4 million in net royalties from the sale of Barack’s books, their income for 2007 exceeds the $3,857,564 total they earned for the previous seven years combined. They gave $240,370 in total charitable contributions to 33 charities. Highlights:

$50,000 to United Negro College Fund
$35,000 to CARE
$26,270 to Trinity United Church of Christ

Note: Reverend Jeremiah Wright at Trinity United Church of Christ did all right but not the 10% tithe he might have been hoping.

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