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Obama Releases 2007 Taxes

Wednesday, April 16th, 2008

The Obama campaign released the Obamas’ 2007 federal tax returns on its website today, showing the couple made nearly $4 million from Barack Obama’s books, “The Audacity of Hope” and “Dreams From My Father.” This is a big jump in income for the couple, who pulled in close to one million dollars in 2006.

Today on a conference call, Campaign Manager David Plouffe was asked by a reporter if the campaign would release Senator Obama’s tax returns from 1997-99 as the Clinton camp has requested. Plouffe replied by saying his candidate had released taxes from the entire decade, presumably referring to 2000s, but did not say whether or not they would release returns from the previous decade.

“We think on issues of transparency and disclosure, which is important in making sure people have faith in their government again, Senator Obama has released all of his earmarks, something Senator Clinton has not done,” Plouffe said.

Obama’s tax returns at a glance:

Total income: $4,238,165

Adjusted gross income: $4,139,965

Salaried income: $260,735

Net profit from books: $3,943,378

Federal taxes paid: $1,396,772

Total charitable contributions for 2007: $240,370

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