Just how does a President get this rich?
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Thread: Just how does a President get this rich?

  1. #1
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    Default Just how does a President get this rich?

    The Obama's just put in a bid for an estate on Martha's Vineyard asking price $14,850,000.
    This after purchasing a Washington DC home in 2017 for 8.1 million.
    Their net worth as of 2018 is 40 million dollars.


    Presidents salary is as follows:
    $400,000 yr.
    $50,000 expense allowance(whatever that is)
    $100,000 non taxable travel allowance
    $19,000 entertainment allowance.


    So even if he saved every dime has was given as president over the 8 long years that comes to a grand total of:
    $4,556,552


    Boy, and they say all the crooks are on Wall Street.

  2. #2
    Senior Member NGF Addict! Fitasc Shooter's Avatar
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    Called being able to keep leftover campaign contributions and signing a rich book deal after leaving office; then there are the big fees for BSing to a crowd for an hour
    "Never argue with an idiot. They will only bring you down to their level and beat you with experience", George Carlin

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    Senior Member LRDGCO's Avatar
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    I despise President Obama, but one thing I think can be fairly said about him is that he got his money the old fashioned way - by cashing in after he was out of office. Don't forget that in addition to book deals (Random House paid them $65 million for a book deal on their memoirs), speaking engagements at a minimum of $250K a go, seats on corporate boards that will deliver significant stock options and grants, the couple has a TV deal with Netflix for an undisclosed amount rumored to be upwards of $200 million. My guess is that they didn't pay for their DC house - it will have been purchased with funds raised by "friends". There are a lot of very bad things about Obama, but I don't think he was personally guilty of financial corruption while in office.
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    Well it's truly great to know that while he was selling the country out to the muslims, he wasn't corrupt about it.

    There's a lot of comfort in that realization.
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    The way I feel about it, cashing in on your time as a public official is like insider trading on wall street.
    Using your influence and contacts to personally enrich yourself financially.

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    Senior Member NGF Addict! Fitasc Shooter's Avatar
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    Quote Originally Posted by LRDGCO View Post
    I despise President Obama, but one thing I think can be fairly said about him is that he got his money the old fashioned way - by cashing in after he was out of office. Don't forget that in addition to book deals (Random House paid them $65 million for a book deal on their memoirs), speaking engagements at a minimum of $250K a go, seats on corporate boards that will deliver significant stock options and grants, the couple has a TV deal with Netflix for an undisclosed amount rumored to be upwards of $200 million. My guess is that they didn't pay for their DC house - it will have been purchased with funds raised by "friends". There are a lot of very bad things about Obama, but I don't think he was personally guilty of financial corruption while in office.
    Guess you don't remember the contributions by GE that got us no more cheap light bulbs, or the contributions by many others that got companies mega money for green gov't contracts (like Solindra) where they bilked us out of millions?
    He was the MOST corrupt President in US history, and you can compound that with the fcat he did NOTHING except play golf - that's what happens when you promote someone to their level of Incompetence as a puppet on string.
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    "Never argue with an idiot. They will only bring you down to their level and beat you with experience", George Carlin

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    Senior Member Walkingwolf's Avatar
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    Bribes in the form of book deals, this has long been the way for politicians to accept bribes. Charity foundations is the other.

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    Senior Member Reloadron's Avatar
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    Quote Originally Posted by LRDGCO View Post
    I despise President Obama, but one thing I think can be fairly said about him is that he got his money the old fashioned way - by cashing in after he was out of office. Don't forget that in addition to book deals (Random House paid them $65 million for a book deal on their memoirs), speaking engagements at a minimum of $250K a go, seats on corporate boards that will deliver significant stock options and grants, the couple has a TV deal with Netflix for an undisclosed amount rumored to be upwards of $200 million. My guess is that they didn't pay for their DC house - it will have been purchased with funds raised by "friends". There are a lot of very bad things about Obama, but I don't think he was personally guilty of financial corruption while in office.
    That would be my thinking. They typically get $100,000 for a speaking engagement plus book deals and the list goes on.

    Ron
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    When Obama was in office of all the presidents he racked up the most debt of all the presidents and all he accomplished was make problems and jack up the country when he came in to office there was about 10 trillion dollars of national debt when he left office about 19 trillion.

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    Senior Member NGF Addict! Ziggidy's Avatar
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    Quote Originally Posted by LRDGCO View Post
    I don't think he was personally guilty of financial corruption while in office.
    Time to wake up.......
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