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re: $1.3 million in 2007, $7 million in 2016....net worth of the former POTUS, now
Posted on 3/15/17 at 10:15 am to GRTiger
Posted on 3/15/17 at 10:15 am to GRTiger
quote:
That actually doesn't seem like a huge leap. Retirement planning, compounding returns, low to no expenses (the president doesn't use his cash or CC for dinner). That seems like a reasonable increase in net worth.
First families actually pay for a lot more than you would think that they do For example, taxpayers only pay for the food served at official state dinners, all other groceries and sundries are billed to them. Yes, of course someone does their shopping for them, because the President can't very well go to the local Target and pick up groceries, but he is billed for those items each month.
As for the increase in his income, good grief that is easy to figure out. Book sales.
0
Posted on 3/15/17 at 10:19 am to LSURussian
quote:
Actually the POTUS must pay for his household food and personal supplies
I did not know that. Interesting.
Posted on 3/15/17 at 10:21 am to TigreDeAustin
quote:
$400,000 annual salary for 8 years = 32,000,000
Posted on 3/15/17 at 10:22 am to GRTiger
quote:
I did not know that. Interesting.
Yeah they pay for a lot actually. For example, if they travel somewhere on vacation, they pay the same amount as if they had to rent a private charter plane. I mean it obviously doesn't cover the entire cost of flying AF One, but it isn't free either.
If they go out for a meal, they pay (unless it's an official function in which case, the taxpayer does pay)
If you read all the details of what the President pays for and what we pay for in regards to their living expenses, it's a pretty fair deal regardless of who is President.
Posted on 3/15/17 at 10:24 am to wfallstiger
Just to make your head explode...do the same for Nancy Pelosi.
Posted on 3/15/17 at 10:27 am to GRTiger
quote:
That actually doesn't seem like a huge leap
DJIA was up ~28% in that timeframe; 14K in '07 vs 18K in "16
$1.3M vs $7M is a ~360% gain.
To be clear, that is well over 10X concomitant market performance.
Posted on 3/15/17 at 10:29 am to McLemore
quote:
Aggie is a state of mind.
I that it was the state of one's bootyhole
Posted on 3/15/17 at 10:53 am to NC_Tigah
Well they had income during that time as well.
I'm not going to pretend to be mad at someone amassing wealth in America. If the implication is he someone cheated to get it, I have to imagine being president would allow for more than $650k/year in growth.
I'm not going to pretend to be mad at someone amassing wealth in America. If the implication is he someone cheated to get it, I have to imagine being president would allow for more than $650k/year in growth.
Posted on 3/15/17 at 11:01 am to TigreDeAustin
quote:
$400,000 annual salary for 8 years = 32,000,000
Posted on 3/15/17 at 11:02 am to Homesick Tiger
quote:
Then I'll say, "so he's making money on the side while being president just as Trump is doing but yet it's held against Trump".
Then someone else would say Trump is controlling his business while being president which creates a conflict of interest whereas a book deal doesn't really apply to that level.
I think this is a bit different than running your multi million dollar businesses while still being president.
Fyi it was held against Obama too.
Posted on 3/15/17 at 11:03 am to wfallstiger
quote:
just how in the hell does that happen.
The answer is public knowledge. That's why nobody is reporting on it.
Posted on 3/15/17 at 11:26 am to wfallstiger
quote:
$1.3 million in 2007, $7 million in 2016....net worth of the former POTUS, now
just how in the hell does that happen.
Not hard to figure. It's basically millions from Presidential Salary and even more millions from book sales.
Here is a breakdown of Obama's main income while he was President:
$3.1 million Presidential salary
$4.5 million from his first book Dreams of My Father
$3 million from second book Audacity of Hope and third book A Letter to My Daughters (profits of this one were donated).
That's at least $10.6 million in income while President. If he was worth $1.3 million in 2007 and earned $10.6 million(ish) from 2009-2016 (I'm sure he also made good money in 2008 which isn't part of the 10.6 million) it's not hard to see how he would have a net worth of $7 million in 2016. I wouldn't be surprised if he is actually worth even more than that.
Posted on 3/15/17 at 11:29 am to elposter
quote:
Not hard to figure. It's basically millions from Presidential Salary and even more millions from book sales.
Here is a breakdown of Obama's main income while he was President:
$3.1 million Presidential salary
$4.5 million from his first book Dreams of My Father
$3 million from second book Audacity of Hope and third book A Letter to My Daughters (profits of this one were donated).
That's at least $10.6 million in income while President. If he was worth $1.3 million in 2007 and earned $10.6 million(ish) from 2009-2016 (I'm sure he also made good money in 2008 which isn't part of the 10.6 million) it's not hard to see how he would have a net worth of $7 million in 2016. I wouldn't be surprised if he is actually worth even more than that.
Well, he certainly is now, with a reported $60M book deal since leaving office between he and MO.
Posted on 3/15/17 at 11:32 am to McLemore
quote:
Aggie is a state of mind.
LSU is technically an "Aggie" school...
Posted on 3/15/17 at 11:34 am to wfallstiger
quote:Obama's earnings from 2005-2016
just how in the hell does that happen
Seems pretty reasonable.
Posted on 3/15/17 at 11:39 am to wfallstiger
Harry Truman once said that if you leave the Presidency a much richer man than before then you are probably not doing some thing right.
When he left in 1953 all he got from the US government was his 112.00 a month Army pension. He moved back to his old house in Missouri and he turned down numerous offers to cash in on his celebrity....All he ever did was get paid for his memoirs.
I don't see Presidents doing this today
When he left in 1953 all he got from the US government was his 112.00 a month Army pension. He moved back to his old house in Missouri and he turned down numerous offers to cash in on his celebrity....All he ever did was get paid for his memoirs.
I don't see Presidents doing this today
Posted on 3/15/17 at 11:54 am to TigreDeAustin
Hillary Clinton math?
Posted on 3/15/17 at 11:59 am to TigreDeAustin
quote:
$400,000 annual salary for 8 years = 32,000,000
yikes
Posted on 3/15/17 at 12:04 pm to wfallstiger
quote:
just how in the hell does that happen. More interested in something along those lines than some old tired tax return which has likely been audited a bazillion times.
What? I thought everybody's wealth quintupled during the weakest economic recovery since the Great Depression.
Posted on 3/15/17 at 12:06 pm to wfallstiger
Book royalites? Oh and the market increase under his administration would have made even an index fund in a blind trust increase dramatically.
This post was edited on 3/15/17 at 12:08 pm
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