Doesn't Obama own stock?

John Fund at the WSJ's Political Diary reports this very strange fact, especially for someone in Obama's millon dollar plus income range:

Mr. Obama's tax returns, which he released this week, apparently show that he and his wife Michelle have next to no stake in the investor class.

Ryan Ellis of the American Shareholders Association has examined the Obama returns for calendar years 2001 to 2006 and found that, in all of those years, the couple reported a mere $1,188 in dividends in 2006 and another $2,754 in dividends in 2005. In the previous years, they reported no dividends of any kind.

Indeed, even though Michelle Obama had a large self-employment income from the University of Chicago's Hospital System that often exceeded $1 million a year, she appears to have neither a 401(k) plan or an IRA for retirement contributions. In another sign the Obama household wasn't into building a nest egg, the couple cashed out $6,260 from a pension or 401(k) plan in 2000.



Anonymous Anonymous said...

Who needs investments when you live on the govt cheese?

3/27/2008 3:51 PM  

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