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The Spectacle Blog
Joseph: I stand corrected. Obama did indeed give his Nobel Prize winnings away, but that $1.4 million is not listed as declared income. Based on that sum alone, the $5.5 million the Obamas have earned, they remain less charitable than their predecessors. This only reiterates the point that it’s difficult to give money one has earned away. Though, I’m sure, the administration would argue President Obama earned the Nobel Prize, too.
But, you’re right, earned or not, the total sum does make him more charitable than Bush.
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Tim Williams| 4.15.10 @ 5:43PM
Unless I am mistaken, Obama is prohibited by law from keeping the Nobel money. I'm not sure how donating it can be counted as personal charity.
Pete| 4.15.10 @ 5:54PM
I am not sure how not claiming it as income is legal. Further, if I claimed 6% of my income as charitable donations, I would be audited instantly.
Nobama| 4.15.10 @ 6:25PM
Obama had to give that money to charity because the spotlight was on him. Bet he would have kept it otherwise. Everyone knows liberals are tight as hell with their own money--it's just OUR money they have no problem spending.
Hillary Clinton is one of the worst! I remember reading that she took tax write-offs for every pair of Billy's old boxers she donated to the Good Will.
Icky woman, typical liberal.
Greta| 4.16.10 @ 7:29AM
I wonder what charities each gave funds to as it seems to me that is at least as important to know as the amounts.
Sonja| 4.16.10 @ 12:58PM
It's on the tax return; just have to find it in the 100's of pages (like anything else the fed govt. does).
Curly Smith| 4.16.10 @ 10:07AM
The $1.4 million Nobel Prize is not listed as income because Obama, as the sitting President, is not allowed to accept items of anything but symbolic nature. Read Article 1, Section 9 of the Constitution.
By law, Obama cannot accept anything over $305 in value: (http://www.gsa.gov/gsa/cm_attachments/GSA_DOCUMENT/Order_FMR_Amend_2006-04_R2-uR-t_0Z5RDZ-i34K-pR.pdf)
Relevant definition:
(3) Any agent or representative of any such foreign government unit or organization while acting as such. “Gift” means a monetary or non-monetary present (other than a decoration) offered by or received from a foreign government. A monetary gift includes anything that may commonly be used in a financial transaction, such as cash or currency, checks, money orders, bonds, shares of stock, and other securities and negotiable financial instruments.
“Minimal value” means a retail value in the United States at the time of acceptance of $305 or less, except that GSA will adjust the definition of minimal value in regulations prescribed
by the Administrator of General Services every three years, in consultation with the Secretary of State, to reflect changes in the consumer price index for the immediately preceding
3-year period.
Obama just did what politicians always do - he gave away money that wasn't his and claimed credit for being "generous". Again, it was not his money to give away.
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