President Obama has been honest with the American people that he sits in a comfortable tax bracket.
Outside of the presidency, he is a best-selling author and has invested some of his money well. Trust me, the Obama family isn’t missing any of their organic, home-grown meals.
Check out the list that CNN Money compiled of the Obama family’s estimated assets, as required by the Ethics in Government Act:
- Between $1.6 and $6.3 million in Treasury notes and bills. This is essentially government debt they hold that they can cash in later.
- A JPMorgan Chase account containing an estimated $500,000 to $1 million.
- 529 college savings plans — obviously for Malia and Sasha.
- Royalties between $100,000 and $1 million for the book, “Dream from My Father.”
- Royalties between $50,000 and $100,000 for the book, “The Audacity of Hope.”
- Though it’s not an asset, the family does carry a mortgage between $500,000 and $1,000,000 on their Chicago home.
- Earned over $789,000 in income in 2011, per their recent tax returns.
All of the assets are listed in range, but not specific, values. That’s why there is such a gap in the estimated wealth of the First Family.
I’ll take the low end of their range! Works just fine for me.
ANSWER IN THE COMMENTS SECTION BELOW:
What do you think of the Obama family’s assets?
Did you think they held more or less than what was reported?