Thursday, March 27, 2008
Obama Charitable Giving: Cheap, Cheap, Cheap
So it comes as no surprise at all that The Obamas gave only 1% of their income to charities during the years 2000-2004. Bloomberg:
Democratic presidential candidate Barack Obama and his wife Michelle gave $10,772 of the $1.2 million they earned from 2000 through 2004 to charities, or less than 1 percent, according to tax returns for those years released today by his campaign.
Senator Barack Obama and his wife, Michelle, sharply increased their charitable donations as Mr. Obama began to run for president and the family’s income increased from book sales, according to tax returns that the couple released on Tuesday.
The Obamas’ returns are striking on a number of levels. They show that the couple made very few charitable contributions, sometimes less than 1 percent of taxable income, until Mr. Obama began his run for the White House.
In 2004, before Mr. Obama entered the Senate, he and his wife gave $2,500 to charity, 1.2 percent of the taxable income. The next year, the donations jumped, to $77,315, or nearly 5 percent of the taxable income.
“Their charitable giving only went up when it looked like he was campaigning for the presidential office,” said Paul L. Caron, a professor at the University of Cincinnati College of Law and editor of the TaxProf Blog, which examines tax questions and has posted the returns.
Could it be their last name is really Obamastein? Obamawitz?
Life In SOJOCO
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