Listening to what was not said in President Barack Obama’s speech to the DNC.
The Obamas entered the White House with a $1.3 million net worth in 2008. That grew to at least $40 million by 2018. The six-figure pension all former presidents receive has significantly contributed to the Obamas' net worth. Today it is at least $70 million. The New York Post recently pegged their fortune much higher, at $135 million.
Forbes reported that the Obamas spend a significant amount of their money on philanthropy. From 2009 to 2015, they gave $1.1 million to charity.
This does not include Obama's biggest donation to date: his $1.4 million Nobel Peace Prize award in 2009, all of which he donated to multiple charities. (Business Insider)
So, let’s figure $1.1 million philanthropic giving, plus $1.4 million to various charities, for a total of approximately $2.5 million dollars. While commendable, it does not exactly mark them as generous philanthropists extraordinaire! With those dollars, in that timeframe, our (my wife and I) own “charitable giving,” at our current percentage rate of giving which has a 50 year history of consistency, would have been in the neighborhood of 15-20 MILLION DOLLARS…just for perspective from a normal American family. And if you take out the money President Obama received, and gave away (in and out) for the Nobel Peace Prize, which no one really knows how he won, and was somewhat embarrassed to receive, then you are back down to a bit over a million bucks. Sounds big, but it is in reality, a pretty paltry sum.
I don’t begrudge Barack and Michelle Obama’s hard work, speaking engagements (some of which were over $400K each), bestsellers, Netflix and future book advancements, etc. They have capitalized well on their years in the BIG HOUSE. But it reeks to high heaven when he talks about how we need more tax dollar give-away programs, government restrictions and a socialistic run country. CAPITALISM (not socialism…however you want to define it), with capital letters, is what made him rich beyond belief, and he surely did not mind using its advantages for personal gain. And the amount he has given back is a spit in the ocean.
And then he says in his well delivered speech to the Democratic Convention: “No one should use their office to enrich themselves…”
Is
he the only one who has done this? No…not the point. He is the one who
gave the speech. It isn’t a guilty by comparison issue. His guilt lies in
being driven by the same greed and self-serving strategies he is accusing in
others. Former President Obama, you did well…you made a fortune from being
president…I don’t fault you for that. Just be honest enough to say, “I got
filthy RICH as a result of being president of this amazing country and what its
capitalistic opportunities presented me.”
The Gatekeeper
3 comments:
It take a lot of gall to accuse others of something you have already done yourself. Hard to trust someone like that. He had his shot at being president. He should be like Mr. Bush and just keep his mouth shut about politics.
yeah...I thought it was a bit hypocritical. But..that's politics, as they say.
Good points, Mark
Kim
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