Where does the money come from?
My article about the five homes owned and/or leased by President Obama produced some backlash. Some people quickly rose to defend Obama. My article was really a question, ‘How can they afford all of these homes’? It seemed to me like a reasonable question.
One assertion was that there was no basis of fact to support the article. Another was that Barack has/had income from book royalties. Yet another challenged my Christianity for daring to publish the article. It pricked my curiosity. I checked the income of the Obamas. The 2015 tax returns provided by the Obamas show a gross income of just under $450,000.00, with a net income of about $436,000.00. That is obviously their total income, since it is their actual tax return.
So, I would ask,. “How does this add up”?
The mortgage payment on $20 million dollars worth of real estate, with a 20% down payment is over $200,000 per year. A quick look at real estate taxes would show that the annual bill on these homes could easily be another $200,000.00. Insurance and maintenance will add another $210,000.00. Let’s not even consider utilities, decorating and absentee supervision and security.
That ads up to a whopping $610,000.00 per year. One could reasonably assume that the Obamas would be responsible for an amount equal to the hard cost, whether rent or mortgage payment. On a $450,000.00 income, that doesn’t leave much for college costs and groceries. Am I the only one who wonders where the money comes from? Maybe someone can provide me/us with factual information that clears up the confusion. It would appear that the President must be managing his personal finances the same way he has been running the country.
Spending exceeds income.
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You golks are living in LaLaland. He is an evil corrupt human being. Good ole Barry who idolized a biological father who was an anti colonialist, that he hardly knew. Or you can argue that his mentor was Frank Davis the self professed communist and anti american radical. And yet lets his half brother live in poverty. This mans character is garbage and he tried his hardest to bring America down a peg. You gona tell me he didnt get any kickbacks into a swiss account or 2 from the Iran deal that he brokered. I say brokered because he agreed to give IRAN (the country who has said repeatedly that americans deserve death) billions of dollars. He also just turned the Internet over to the UN in September of 2016. When men like Warren Buffet, Jayz and George Soros support you then your probably set in this life but destined for a severe judgement when it ends.
Using published “market” prices is absurd. Sale prices, especially in high end real estate bear very little relationship to the actual purchase price. If we assume that purchase prices are half what the real estate listings show, then the yearly amount drops to 305,000 and that is well within the 2015 salary for the president. But, you ignore the obvious. Obama can negotiate 50% on the published price pretty easily, since sellers are often willing to cut him a better deal than average and they know they aren’t going to get anything near the asking price. But comparing the 610,000 to Obama’s 2015 salary is also ridiculous. Like all elites, he can shift his income forward to after he leaves office by the same means that elite’s use to optimize their tax burden and distribute their income over time. Your assumption that he was receiving all the possible income from his book deals is silly. You also lump rentals in with purchases which also inflates the yearly cost, which is just dishonest. You also ignore any actual down payments in excess of 20%. Probably because the 20% is typical of houses bought as investments rather than as real, long term residential investments. People buying homes to actually live in, frequently pay larger down payments in order to reduce mortgage payments to fit their income.
“It’s not about right or left, it’s about Right or Wrong”; you might want to at least try a little harder to generate honest right wing propaganda.
Just as I thought the presidency must pay well after leaving the office. When will the people wake up and realize that Obama is a lot more than appears.why doesn’t. He just go offf in the sunset and let someone else run the country.
He does not go off into the sunset because he is still “transforming America”, now from the deep state.
mmaybe it has something to do with foreign donations
Ukraine possibly????? Seems the rest of the swamp and their families get boat loads of money from that country. This is why the Swamp hates Trump…he’ll uncover their crimes.