Thread: Obama’s income tumbles to $2.7m

Obama’s income tumbles to $2.7m

By Andrew Ward in Washington

Published: April 15 2009 23:29 | Last updated: April 15 2009 23:29

Barack Obama earned $2.7m last year, most of it from sales of his best-selling books, according to his federal income tax return.

While the sum is more than 50 times the median US household income, it marked a sharp drop from the $4.2m (€3.2m, £2.8m) the US president and his wife, Michelle, earned in 2007. The White House released the information as millions of Americans raced to meet Wednesday’s deadline for filing annual returns.

Sales of Mr Obama’s two most successful books, Dreams from My Father and The Audacity of Hope, surged during his two-year run for the presidency.

Mr Obama’s earnings dwarfed those of George W. Bush, who reported $719,274 of income during his final year in office. They also greatly exceeded those of Joe Biden, the vice-president, and his wife, Jill, who declared income of $269,256.

The disclosures came as thousands of conservative activists held anti-tax “tea partiesâ€

Perhaps they can donate some of their money to the American people.