Seven Figure Income, No Retirement Accounts

Many have made a big a deal about Senator & Mrs. Obama's relatively low level of charitable giving as indicated on their tax returns. That's between he and his Jew-hating clergyman as far as I am concerned (low swipe even for me, sorry!)

What concerns me more as a Prosperitarian is that the couple does not invest:

Indeed, even though Michelle Obama had income from the University of Chicago's Hospital System that exceeded $1 million during the period the tax returns were filed, she appears to have neither a 401(k) plan nor 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.

Larry Kudlow hit this topic on his show last night. An excellent segment is posted on the CNBC site (I can link but not embed). I encourage you to watch. Especially Jerry Bowyer's remarks at the beginning of the clip. It really does speak to their beliefs that they choose -- not only to pass on tax deferral -- but to not invest in Corporate America at all.

Dem2008 Primary Posted by jk at March 28, 2008 10:53 AM