Our Generous President

The President and his wife made about $5.5 million and paid $1.8 million in federal taxes in 2009. This does not include an estimated $59,639,899 in benefits that he receives annually for being president. Being the generous couple that they are, they gave $329,100 to 40 charities. That’s an average of $8,227.50 per charity. Moreover, $329,100 is also about 6% of their total income for 2009. He did donate the $1.4 million he won for the Nobel Peace prize, although it’s debatable whether he really earned that reward. Nevertheless, Obama had no problem pledging $100 million of taxpayer money to help Haiti. He also pledged $475 million of taxpayer money to rescue the Great Lakes; $3.5 billion of taxpayer money to help Africa; $1.5 billion of taxpayer money to help underwater homeowners and the unemployed; $900 million for schools; $8 billion of taxpayer money on high speed rail; and as much as 3% of GDP, which is about $415 billion of taxpayer money, on scientific research. Perhaps this is why he only donates 6% of his own income. Why be generous with your own money when you can be magnanimous with other people’s money?

Remember when President Obama told Joe the Plumber: ”I think when you spread the wealth around, it’s good for everybody”? The President was not talking about his wealth.

About Brutus (6 Posts)

Brutus is a libertarian residing in Washington, DC. He is a co-blogger with Trevor Bothwell at Who's Your Nanny?

Tagged as: charity, Joe the Plumber, left, Obama, presidency, Taxation