Hawking his children's book? Obama's favorite audience is children. He thinks voters are also children.
What do the Obamas know that we don’t about the future of the economy? The release of details of their personal wealth shows that the bulk of their income comes from book sales and clipping the coupons from US Treasuries. Treasuries are safe, safe, safe and generate a lot of tax avoidance- ah deductions.
Many Chief Executives have put stocks in special trusts while in office to avoid any hint of conflict of interest or favoritism but this – this is quite the revelation. As interest rates head back up (and they will) they will have to make adjustments. Usually the smart investor “staggers” the time of maturity on his/her bonds so that there isn’t a big tax hit. T-bills are taxed at maturity.
No wonder the Prez is able to spend public funds on his policies. He’s out of the rain and under the umbrella of securities. Ah but he can say with a straight face to the American people that he has faith in America and its future so he has invested in it.
To be fair, the bulk of their income appears to be royalties from their books and so the T-bills do offset their large tax liabilities. SamHenry is not a financial whiz just a “great guesser: with a lot of footnotes trailing in her wake. My blogging buddies are always at the ready to correct. Morb is in charge of grammar and spelling. Believe me, the others are fact checkers!
Michele and Barack don’t fear high taxes. The treasuries will keep them out of harm’s way. They have income largely protected from taxes. State and local tax will not be collected and federal only at maturity. More about T-bills here; details of Obama wealth here.
wdednh
May 17, 2011
you are spot on SamH. thank you!
samiam60
May 17, 2011
SamHenry…… I have responded to two of your emails. Check your spam folder
roblorinov
May 17, 2011
Sweet!! No wonder Obamavich is like the guy in the movie singing “Dancing in the Rain.” I do wonder…when he talks of taxing the rich more does that include himself and his wife? I’m sure it doesn’t.
I’m beginning to think BO is slicker than Slick Willy Clinton.
samhenry
May 17, 2011
Taxing the rich is not a problem for him with so much sheltered income and the rich do have that option as things stand now. They would have to get rid of some deductions to catch them.
roblorinov
May 17, 2011
Sweet! No wonder BO acts like the guy in the movie singing “Just Singing in the Rain.” Wonder if when he talks of taxing the rich more if that includes him and his wife? BO is turning out to be slicker than Slick Willy Clinton, no?
roblorinov
May 17, 2011
Well WTH? My first comment above didn’t go through so I retyped it. Now there are two. Ok who in the CIA is playing games with me on this blog??? NOT funny!
samhenry
May 17, 2011
Rob – I think it was a glitch. I was updating one of my comments and it took about 3 minutes to save. I think it was crossing with yours. Hey, let them track. They had us from the birth of social security and the damnable numbers. Soon we will be having chips implanted. Rob I am so sorry that you came here only to live through it all over again. But your message is needed. No one else has that message and expresses it so well. I think you should publish some of your writings. Don’t be afraid. Queen Elizabeth went to Ireland today in the face of having found a bomb there and death threats.
Joanna
May 19, 2011
right on SamHenry!
…every time I hear:
“tax the rich” something irks me….
and in my humble opinion the whole taxing system is WRONG!!!
on one hand provides a lot of options for people with good income to avoid taxes or a good part of it…
on the other does not provide any incentive for the “poor” to do better, nor expects any responsibility for one well being…
the simple rule from the good, old days:
“you don’t work, you don’t eat’
seem to be an abstract concept to most….