by John McCormick, updated
Campaigning for president has been very good for Sen. Barack Obama’s pocketbook, with his household income jumping from $991,296 in 2006 to $4.2 million in 2007.
The Illinois Democrat had a net profit from book sales of $3.9 million, according to a copy of a 2007 tax return released Wednesday by Obama and his wife, Michelle. Included in that total was $169,706 in foreign income from book sales overseas.
The couple paid nearly $1.4 million in federal taxes last year, while making $240,370 in charitable contributions. Their largest gifts were to the United Negro College Fund ($50,000), the international relief organization CARE ($35,000) and Trinity United Church of Christ in Chicago ($26,270).
In late March, the Obamas posted their 2000 through 2006 tax returns on Internet, as a way to prompt Sen. Hillary Clinton to release tax documents from her post-White House years, something she has since done.
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Clinton’s release showed she and her former president husband had earned $109 million from 2000 through 2006.
The Obamas contributed $6 in 2007 to the federal fund that provides public financing for presidential campaigns.
Obama said last week that he remains uncertain as to whether he will participate in the program, should he win his party’s nomination, despite a pledge he made last year that he would do so, if the Republican nominee did as well.
Clinton’s campaign called on Obama to release his 1997, 1998 and 1999 returns as well. Although he has not released them widely, his 1998 and 1999 returns were previously provided to the Tribune. Back in 1998, the couple’s total income was a comparatively meager $192,245.