Well isn’t this little tidbit interesting. After all the whining about Mitt Romney’s money offshore and overseas income, we learn that Obama’s adviser Valerie Jarrett, DNC Chair Debbie Wasserman-Schultz and former Speaker of the House Nancy Pelosi receive sizable income, and park significant money offshore and out of America. All the ObamaBOTs defending this hypocrisy cried but they aren’t president! Ok. If you want to be a hypocrite and complain about offshore accounts and income, it should apply to Democrats if it’s bad that a Republican like Mitt Romney does it. But lets take a look at the current outgoing president (in November). Surely all of his income is ‘earned’ in the United States right? He gets paid $400,000 per year alone just to be president and fly around, golf and vacation on our tax dollar. But it seems that Hussein Obama’s foreign sources of income are actually quite significant. According to The Volokh Conspiracy fully 30.1% of the Obamas’ gross income has come from foreign sources. That comes out to about $2.7 million over three years while ‘earning’ a total of: $8,993,449. In 2010, Obamas’ foreign income was a whopping 41.4% of his total income. Better call David Axelrod and Stephanie Cutter to spin this one now.
From 2009 through 2011, the Obamas paid $87,429 in foreign taxes, which they applied toward a credit to reduce their U.S. tax bill. The amounts I examined are reported on Form 1116, of which there are two filed along with their 1040 when they had both general and passive foreign income.