Sen. Barack Obama released the tax returns of he and his wife Michelle for the last seven years on Tuesday. The Democratic presidential candidate urges that his rival Sen. Hillary Clinton do the same.
The move shows the Obama has no fear of showing how he gets paid and highlights exactly how he has earned his income throughout the bulk of his political career.
In 2006, 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.
The couple reported donating $60,307 to charity, including $22,500 to the Trinity United Church of Christ, the now infamous home of controversial pastor, Rev. Jeremiah A. Wright, Jr. As the Obama family's income increased, so did their charitable contributions.
In 2005, their income was $1,670,995, which is a huge jump from 2004, when the couple reported earning $207,342. Michelle made twice as much as Barack in salary as she pulled in $316,962 to his $154,047. However, Barack made an additional $874,167 from Random House, the publisher of his book, The Audacity of Hope.
Prior to 2002, their income was not detailed as all income was labeled "business income". However, since 2002, Barack's salary from the University of Chicago decreased, while Michelle's income from the University of Chicago Hospital increased, especially from 2004 to 2005, when it jumped from $121,910 to $316,962.
In 2005, Michelle became a corporate board member with Treehouse Foods and Bay Valley Foods, garnering an additional auxiliary income.
Obama is currently on vacation with his family in Virgin Islands.
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