Obama's Bullshit Salary Giveback
Dana Milbank lays out the absurdity in the WaPo:
The White House announced that Obama, "to share in the sacrifice being made by public servants," would return 5 percent of his salary to the Treasury. The gesture, matched by several Cabinet members, was meant to be roughly the same percentage by which domestic agencies are being cut. But the amount -- $20,000 of his $400,000 salary -- is so little for a man made wealthy by his political fame that it comes across as patronizing.Obama and his wife reported income of $8 million in his first three years in office, largely from royalties on his memoirs, which were best-sellers because of his political fame. And the Obamas will soon go from rich to filthy rich. Bill Clinton earned $89 million in speaking fees in his first 11 years out of the White House, according to an analysis of disclosures done last year by CNN. Clinton received an average of $189,000 per appearance -- a record that Obama will be in a good position to match after his presidency ends.
For a man worth millions and soon to be worth tens of millions of dollars, $20,000 is not much of a sacrifice.
But does he pay his fair share of taxes? Or is that only for the rich that make more than $400K a year?
Jim P. at April 6, 2013 11:05 PM
...$20,000 is not much of a sacrifice.
Can we have this exact same attitude when we talk about the rich paying their fair share of taxes, or is that "completely different"??
DrCos at April 7, 2013 2:48 AM
Obama's Presidential salary, and even his book royalties, etc, do not in any way reflect his true wealth. Speaking fees are only part of it...and I've heard Hillary Clinton is asking $200,000 per speech...there will also be a wide variety of consulting deals, partnership opportunities, Board memberships, etc.
Al Gore is now richer than Mitt Romney.
Furthermore, much of Obama's wealth will be transferrable to his children without estate or gift taxes, because influence is not taxable but is very real in its financial value.
Power is always and everywhere transmutable into money, and in the American society today, public recognizability is also transmutable into money.
Someone in Financial Times was complaining that Jamie Dimon (J P Morgan) makes more money than the President. If "making money" is accurately measured in terms of present value of lifetime earnings resulting from current job, I think Obama is actually making considerably more than Mr Dimon is.
david foster at April 7, 2013 4:19 AM
Pretty soon we will need a Newspeak/English translator for this administration:
The Jobs council - wasn't
Shovel ready jobs - weren't
Affordable health - care isn't
TSA ?
The debt is going down - not
fair share - only to people who aren't like them
Unemployment ?
...
and so on.
1984 was 30 years too early
Stinky the Clown at April 7, 2013 7:10 AM
But Michelle Obama told me if I went in for a job in the public sector it was a sacrifice and noble. That's not true? What?
These people crack me up. They always leave sacrificial "public service" richer than when they came in.
Catherine at April 7, 2013 8:29 AM
As long as it's someone talking voluntarily giving it up vs it being forcefully taken under threat of jail time, sure, why not?
Let's also define exactly what "fair share" is too. I've been paying a lot myself (I'm moderately successful) yet I'm seeing plenty of people paying nothing in the form of federal income taxes at all, often while getting a net "refund" back. How exactly is that "fair?"
Miguelitosd at April 7, 2013 9:08 AM
> or is that "completely different"??
The problem isn't that the rich don't pay enough, the problem is that the poor don't pay enough.
The poor don't care whether government works or not, since they're not paying for it... Poor people give their attention to other things.
Consequently, the wealthy buy stronger and stronger connections to Congress (etc.).
Crid [CridComment at gmail] at April 7, 2013 9:45 AM
Dear Comrades,
Comrade Party Chairman and President Barack Barackovich Obama has announced that the Socialist Democratic Party of the USSA has begun to set specific limits on personal wealth accumulation that go over ‘reasonable levels’ as determined by the Party.
Comrade Obama’s plan will collectivize, through taxation, excessive Individual Retirement Accounts, which greedy Capitalists use to hoard the People’s Wealth for their own leisure rather than for the care and support of the millions of workers and peasants of the USSA who have been denied their civil rights, particularly their fair share of the means of production which rightly belong to the Masses.
Stinky the Clown at April 7, 2013 10:00 AM
I find it odd that to show "solidarity" with the federal EMPLOYEES he is taking a voluntary hit for what the DEPARTMENTS take. Employees are facing up to a 20% gross reduction in pay (depending on pay, kids, insurance, etc, that's 15-19% net, as a ballpark). So, he's actually showing solidarity with the accounting departments of the various agencies, not with the employees.
My two cents.
Shannon M. Howell at April 7, 2013 10:40 AM
War is Peace
Freedom is Slavery
Ignorance is Strength
Grey Ghost at April 8, 2013 6:55 AM
Leave a comment