In a stump speech in Quincy, Illinois, President Obama suggested that “I do think at a certain point you’ve made enough money.” Video here.
Obama made almost $5.5 million last year, most of which came from book royalties according to his tax return.
This comes on top of the other millions of dollars Obama received in previous years. The fact that Obama has been in the public spotlight as a politician has undoubtedly had an impact on the royalties of his two books as well. Go ahead and compare Obama’s 2009 income with other presidents here.
And let’s not forget that while Obama stepped up his charitable giving this year, he was noted to have given very little to charity:
What is surprising, given the recent controversy over Obama’s membership in the Trinity United Church of Christ, is how little the Obamas apparently gave to charity — well short of the biblical 10% tithe for all seven years. In two of the years, the Obamas gave far less than 1% of their income to charity; in three of the years, they gave around 1% of their income to charity. Only in the last two years have they given substantially more as their income skyrocketed — 4.7% in 2005 and 6.1% in 2006. (Of course, it is possible that the Obamas may have made gifts to other worthy causes that were not deductible for federal income tax purposes.)
So when the president lectures about who’s earned enough, let’s keep in mind what he himself did in practice.