Money Talks
The Obama campaign announced that it has posted the candidate’s tax returns on its Web site and challenges Clinton to do the same. His latest maneuver to pressure Hillary Clinton to release hers and hit his Democratic rival on the issue of transparency.
“The returns are complete, including all schedules, and are now available to anyone to view,” the campaign announced in a statement. “The Obama campaign urged Senator Clinton to join Senator Obama in making her returns public. Full disclosure on Senator Clinton’s part is especially important because she recently loaned $5 million to her campaign, shortly after revelations surfaced that her husband was to receive a $20 million payout from Yucaipa, a supermarket holding company that invests in tax shelters in the Cayman Islands.”
Obama and his wife Michelle reported joint income of $991,296 in 2006 (the most recent year released) which included $430,700 in salaries and $506,618 in reported business income.
In 2005, their income was $1,670,995 – a huge jump from 2004, when the couple reported earning $207,342. One interesting note, in 2006, the couple reported donating $60,307 to charity, including $22,500 to the Trinity United Church of Christ.
So far, Clinton has pledged to disclose hers at least three days before the Pennsylvania primary on April 22.
The Clinton campaign immediately responded with a memo arguing that Obama has not been forthcoming about his record in the Illinois state senate.
How does this controversy about Obama and Hillary’s decisions to release or not release their tax information affect their credibility as candidates for the Presidency? Why does it matter how much each of them make or where they put their personally earned funds? Or is it that people are afraid that Hillary may be misappropriating funds? Why do we need to know about the candidates’ money?
“How does this controversy about Obama and Hillary’s decisions to release or not release their tax information affect their credibility as candidates for the Presidency? Why does it matter how much each of them make or where they put their personally earned funds? Or is it that people are afraid that Hillary may be misappropriating funds? Why do we need to know about the candidates’ money?”
I don’t think its absolutely necessary for the candidates to reveal their financial status. You don’t see Dr. Tatum allowing the students and board of Trustees into her personal financial affairs. But in the shadow of President Bush’s connections to foreign oil companies, many citizens are more attentive to how candidates are earning their campaign money and what ties the future president makes that will influence the general public. I think the Obama campaign was trying to show that Obama has no financial matters that call for suspicion and investigation. Clinton’s delay to follow suit may not necessarily hinder her, but doing it won’t push her forward either. So as far as I’m concerned this is not a major issue.
| Posted 1 year, 7 months agoI think the ultimate point that Senator Obama is trying to prove is that no one can make public claims without fully supporting them. I’m saddened that the race between Clinton and Obama is so tit for tat, and its almost becoming exhausting to watch! It is important to know whether or not candidates are illegally spending their money for campaigns and where it is coming from because it is a matter of public opinion. How much money the candidates make personally is interesting but not necessarily KEY for the arena of public opinion.
| Posted 1 year, 7 months agoI mean…the fact that Obama is being so open about his money shows that he doesn’t have anything to hide. I, however, do not feel that it is a necessary step but if he feels that’s what he needs to do in order to make people feel that he is more credible then by all means go ahead. I honestly do not really care how much they make or where they get their money from as long as it has been obtained legally. People feel the need to know about the candidates’ money because people are nosey. Point blank.
| Posted 1 year, 7 months agoMoney has been a recent subject in the news. I am not completeyl sure why but I feel like Hilary Clinton should put how much she made this year and years before. Her issues on money is something that has follwed her since she loaned her campaign money. It is a credible question. It is not a huge deal but it should be out in the open.
| Posted 1 year, 7 months agoI really don’t see how sending in their tax incomes will either negatively or positively affect the candidate’s campaign. To me it doesn’t matter how much they make but i guess if the public thinks that Hillary may be misappropriating funds then I guess we should know.
| Posted 1 year, 7 months agoI think that this is incredibly amazing and regarding how transparent Obama wants to be. If he is willing to be that transparent and put his business out there like that then I really respect his decision to do that. As if he has nothing to hide. And I think Clinton has something to hide and that is why she is taking a long time to do so. I do not as a voter care about their incomes but I do respect Obama’s decision to do so. And in reponse to Michelle and Barack Obama’s joint tax return I feel as if that numerical figure is extremely low in comparison to many political candidates. Take doctors, lawyers, actors, singers, etc. into consideration who jointly if filing that way make much more than that. And to be president etc. and finance what they have to finance his income is substantially low to me.
Taxes and how much each candidate does not mean much to me but the fact that Obama is willing to put himself out there like there I have much respect for. He hides nothing like most politicians do. He said that he’s used drugs, he put his income out there, he put his African roots and close family ties out there, he stands up for himself in all arenas. I drastically support his decision
| Posted 1 year, 7 months agoSeeing the actual hard numbers here — especially of couples’ combined incomes — kind of blows my mind. I think that candidates for public office usually try to depict themselves as “ordinary” (i.e., middle-class), and so I generally think of them as having middle-class incomes. But often they are far wealthier than that. (As I’m now reminded
)
This makes me want to do some research on Presidential candidates’ incomes. I wonder if there’s a list out there somewhere.
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| Posted 1 year, 7 months agoThe media has nothing better to do and this information about their taxes is just another tactic to stir up whatever controversy they can. It doesnt matter how much they make. I think it is good to know what charities they give to but other than that it doesnt matter. People are just trying to make an issue out of Hilary not making her’s public. Hilary urged Obama to keep his name on Ohio’s ballots and he didnt want to just as she might not want to reveal her returns. I dont care whta they make if Im not getting any
But I don’t think it’s their incomes that they are trying to use to make a difference. I think it’s the fact that they are willing to do this that speaks louder than their incomes
| Posted 1 year, 7 months agoI think the main question is “where is Hilliary getting her money from” it is concidental that her husband just recieved so much money and they she is willing to have an extra five million out of her pocket. I know to me that is alot of money and for that just to be added to what she already has spent seems amazing. However, I do hate to see this campaign being drawn to such petty issues. She said she will reveal them later so give her time maybe she hasn’t finished filling yet or something.
| Posted 1 year, 7 months agoSo now that I understand the ins and outs of tax returns and how it relates to this election, personally I don’t think that the incomes of the candidates should have anything to do with their candidacy. I really this is a method d that the Obama campaign is using to attempt to get more Clinton supporters. As for Hilliary funding her own campaign, I mean if she needs the money and has it available to do it, then I don’t see why it would be such an issue. And if I used to be a first lady, I wouldn’t want my income levels disclosed either!
| Posted 1 year, 7 months agoIn response to kjohns40 … maybe one reason that the candidates’ incomes are of so much interest right now is that the U.S. is in such a severe economic downturn.
| Posted 1 year, 7 months agoI meant Florida and Michigan not Ohio
| Posted 1 year, 7 months agoGood point deespencer it probably is the fact that they are willing to do this.
| Posted 1 year, 7 months agoWhatever happened to may the best man (or woman) wins? Why is that each candidate feels the need to discredit one another on issues that have gone far beyond their respective political stances. While it would be nice for Clinton to post how much she made this year, I do not feel it is necessary. No matter how you decide to view the situation BOTH candidates are making more than the average American and their displaying of that shows little of how they plan on helping low income families.I dont care about their tax returns, lets see a detailed list of charitites they’ve contributed to and the progress of each. This issue on money can affect both candidates negatively because once again they appear to be flaunting their wealth and not what they plan on doing for the wealth of others.
| Posted 1 year, 7 months agoI believe that Obama is trying to pressure Hillary into backing up her claim that she is so “transparent.” Obama wants to make it known that he has nothing to hide by revealing his tax information. If Hillary has nothing to hide, then she should have no problem with doing the same. By her continuing to ignore his proposition, it can potentially ruin her credibility because it would demonstrate that she is not so willing to be “transparent” to the public after all.
I don’t think it’s so much important how much they make, as to where they spend their money. I think it’s an advantage to Obama that he donation such a large amount of money to charity. That tells a lot about his character and what’s important to him. However, the issue with Hillary’s income and whether she possibly loaned her campaign $5 million, is relevant because it would show how much of an upper hand she possibly has simply because her income may be extremely higher than her opponents, which could possibly provide her with an unfair advantage.
| Posted 1 year, 7 months agoi agree with aanthony that these stories are really petty and pointless. At the end of the day the ability of a tax return and annual income information to change voters minds is low.
| Posted 1 year, 7 months agoscaldwe3 brings up an interesting point … Clinton’s reasonable claim to privacy as former first lady is (or may be) a different issue than her reasonable claim to privacy as a Presidential candidate.
And yet, she is the same person, with the same set of tax returns … so even if she is entitled to more privacy with regard to her first-lady tenure, it seems doubtful that it would be practical to keep the two separated.
| Posted 1 year, 7 months agoI agree with Shari that the main reason why people want this information revealed is because people are nosey and feel like they are entitled to knowing every little detail about each candidate. Regardless if that information has anything to do with their capabilities to perform the tasks that a President has to.
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| Posted 1 year, 7 months agoNo, I personally dont believe it would affect anything…I mean why would it. Extremists might say that being openmeans tell all…THIS IS NOT TRUE…if I kno obama makes a million a year heck I’m going to try and get some $ out of him (duh! this is not at all a smart move!) Must ppl don’t think THIS IS REALLY IDIODIC! Its her right to release her tax statements but WHO CARES this is like when your little brother and you snap a stick to see who got the biggest one NO ONE CARES. if i could just reiterate this i in another way i would say NO ONE REALLY CARES! The only reason I would b interested in the candidates $ is to see if they are donating to scholarships…like I said before personal interests thats it!