Obama made $2.5M in book royalties last year
About a week later, shortly before his inauguration, Obama agreed to a $500,000 advance for an abridged version of “Dreams From My Father” that would be suitable for middle school or young adult readers, according to a new personal financial disclosure report released this week.
Half a million bucks for dumbing down an already dumb book?
Nice work if you can get it. But in these trying times, don’t you think a retroactive tax should be applied to such obscene profits? Say, 90% or so?
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This may sound cynical but I wonder what was hidden in the TARP bail out bill that helps publishing houses, or maybe just one in particular.
Personally, I’d favor the Swedish tax structure from back in the 60’s - 70’s: A top-end rate of 102%, IIRC (which drove native-Swedish “creative workers” at the top end of the earning scale to emigrate - at least tax-wise - from there to the U.S. and the U.K.).
Sounds like “windfall profits”, to be sure…
After all, Hussein The Won should be easily able to understand “…from each according to his (earning power)abilities, etc…” - and, being A Man Of The Peeple, he’s not in politickin’ for the money, surely…
Besides, its for the chillldrennnn, right?…