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Thread: obama giving more money away?

  1. #1
    Senior Member subroc's Avatar
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    Default obama giving more money away?

    obama giving his nobel prize money to charity.

    sounds good...

    http://news.yahoo.com/s/ap/20100311/...ma_nobel_money
    subroc

    Article [I.]
    Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.
    Article [II.]
    A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.

  2. #2
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    Very cool. Glad to see that.

  3. #3
    Senior Member Buzz's Avatar
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    Never fear. When his tax returns come out later this spring, someone will be ripping him a new one for taking the write-off.
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
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    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
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  4. #4

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    Wow, a dem giving to charity, it's about time one of them did.

    I'm happy he can take the deduction although under his administration I suspect it will not be as large of write off.
    John Abramson

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    Why wait until spring Buzz; it appears Code3 has jumped the gun

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    My understanding is, that while in office he can't accept any "outside" money.

    So maybe its not really him.

    WRL

  7. #7
    Senior Member YardleyLabs's Avatar
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    Quote Originally Posted by WRL View Post
    My understanding is, that while in office he can't accept any "outside" money.

    So maybe its not really him.

    WRL
    Actually, Presidents are not covered by restrictions on outside income beyond not being permitted to accept payment for performance of their official duties and generally accepted restrictions suggesting that investments be maintained in blind trusts so their is no appearance of conflict. He announced his intention to give the money to charity when the award was announced. However, he would have been fully entitled to keep it.

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    Senior Member luvmylabs23139's Avatar
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    By law he could not keep it since he is the CURRENT President.

  9. #9
    Senior Member YardleyLabs's Avatar
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    Quote Originally Posted by luvmylabs23139 View Post
    By law he could not keep it since he is the CURRENT President.
    I'm not sure where you are finding that. The President is explicitly not covered by the income restrictions that apply to members of Congress and virtually every President and Vice President has had substantial sources of income other than their salary, including book royalties, deferred compensation payments from government contractors, dividend and capital gain incomes, and even substantial gifts (e.g. Reagan received and accepted a $2.5 million house as a gift from a private individual while he was President). Presidents are restricted in their acceptance of gifts from foreign governments, but are not restricted on their acceptance of "domestic" gits which include gifts from all non-governmental sources. Presumably that would include the Nobel Prize, which is not a governmental award.

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    Quote Originally Posted by subroc View Post
    obama giving his nobel prize money to charity.

    sounds good...

    http://news.yahoo.com/s/ap/20100311/...ma_nobel_money
    He should give the $$$ to the IRS since he believes in the Government spending $$$ rather than us donating to the charities of our choice to help those in need.
    Terry Britton, P.E.

    Engineers believe that if it isn't broken, it doesn't have enough features yet.

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