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2010-03-12 Home Front: Culture Wars

How Obama spent his $1.4 million Nobel Peace Prize

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Posted by Steve White 2010-03-12 00:00|| || Front Page|| [11126 views ] Top

#1 The whole $1.4 mil is shown there, so I assume Ms. Periwinkle is wondering about other donations. I'd say he did a good job with the Nobel prize, so I'm going to have to upgrade my opinion to "worthless loser who occasionally does something right."

That's better than a lot of folks ever gave W.

Posted by Bobby 2010-03-12 07:00|| 2010-03-12 07:00|| Front Page Top

#2 He didn't give my people any money, so he's still a worthless loser.

Posted by Nimble Spemble 2010-03-12 07:04|| 2010-03-12 07:04|| Front Page Top

#3 --This is a 'drop in the bucket' compared to the billions(?) stolen from the coffers of this country..

Posted by Tom--Pa 2010-03-12 07:27|| 2010-03-12 07:27|| Front Page Top

#4 So I imagine Obama's 2009 tax return will show the Nobel as "unearned" income.

Posted by ed 2010-03-12 08:03|| 2010-03-12 08:03|| Front Page Top

#5 Doesn't he get income tax relief for making the donations? From money he didn't earn?

Posted by AlmostAnonymous5839 2010-03-12 08:04|| 2010-03-12 08:04|| Front Page Top

#6 I'm not sure how the tax law works here. Maybe he reports the $1.4M prize as income and takes the charitable donations on his Schedule A or maybe, since he is giving it all away, it never counts as income in the first place.

Anyway, he doesn't need the money. After he leaves the Presidency he will hire someone to write his (3rd) autobiography and take in $10M plus and then he can give make $2M/yr giving speechesand 'consulting' for various orgs.

Posted by lord garth 2010-03-12 08:33|| 2010-03-12 08:33|| Front Page Top

#7 Doesn't he get income tax relief for making the donations? From money he didn't earn?

No, only if he disclaims the prize entirely. Since he had control over the money (ie., he made the decision where it's spent), the money is counted as income.

Posted by Slearong Henbane8806 2010-03-12 09:18|| 2010-03-12 09:18|| Front Page Top

#8 you guys crack me up. Tax consequences for Obama or anyone in his regime? LOL

Posted by Frank G 2010-03-12 14:50|| 2010-03-12 14:50|| Front Page Top

#9 he whole $1.4 mil is shown there, so I assume Ms. Periwinkle is wondering about other donations.

I'm afraid I was lazy this time, Bobby, and did not read the article. Thank you for not letting me get away with it.

Posted by trailing wife 2010-03-12 17:16|| 2010-03-12 17:16|| Front Page Top

#10 I thought that gifts from foreign countries to POTUS were actually the property of the United States. In other words, it wasn't his to give away.

Posted by Rambler in Virginia 2010-03-12 19:30|| 2010-03-12 19:30|| Front Page Top

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