In addition to getting a little AMT love on his $2.9 million in gross income last year mostly from Random House book publishers and Dystel and Goderich literary agents (p. 31), the more curious data is that president collected material dividends and interest from Northern Trust (from which he received $26.6k probably after Barney Frank went postal over the bank's little TARP funded romp at the House Of Blues) and JP Morgan, presumably from owning shares in these entities... Of course, The First Portfolio Manager is not capable of suffering from conflicts of interest, even when he is bailing out bank after bank compliments of AIG.
The president barely made any money on the $650,000 in T-bills he bought and sold ($150k of these had a 10 day holding period). Perhaps he should hire Bill Gross as an advisor on how to trade U.S. debt.
Also turns out the tuition at the "University of Chicago" for Malia (grade 5) and Natasha (grade 2) is roughly 24k each.
In summary: the president paid $881,337 on total income of $2,736,107, or 32.2% in federal taxes. Then again as per line 63 the president applied $841,000 in tax payments from his 2007 return (not publicly filed), effectively parting with $40k in cash for 2008.
And of course, there is nothing cooler than putting "US President" in the occupation box.
Obama 1040 Sphere: Related Content
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