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originally posted by: CynConcepts
originally posted by: MotherMayEye
originally posted by: BlueAjah
Trumps hotels have a system set up to track foreign income and to donate it to the US Treasury.
I can't paste a link right now, but it was covered by some media.
I am curious how Obama handled tracking foreign revenue from his book(s) sales while he was president.
Anyone know? I've googled, but I am not really finding anything substantive about it.
Good question. It would be helpful to know what past president's did with foreign received monies. For example:
The U.S. Embassy in Egypt, for instance, spent $28,636 in August 2009 for copies of Mr. Obama’s best-selling 1995 memoir. Six weeks earlier, the embassy had placed another order for the same book for more than $9,000, federal purchasing records show.
About the same time, halfway around the world, the U.S. Embassy in South Korea had the same idea and spent more than $6,000 for copies of “Dreams From My Father.”
One month later, the U.S. Embassy in Jakarta, Indonesia, spent more than $3,800 for hardcover copies of the Indonesian version of Mr. Obama’s “The Audacity of Hope,” records show.
originally posted by: matafuchs
a reply to: introvert
No, but we can look at Obamas failed 'green initatives' and foray into 'venture capitalism' that have led to almost 2000 investigations and over 500 convictions. 80 billion in US taxpayer monies. He gave kickback to all the companies who contributed to him and to me that is much much worse.
originally posted by: Byrd
originally posted by: CynConcepts
originally posted by: MotherMayEye
originally posted by: BlueAjah
Trumps hotels have a system set up to track foreign income and to donate it to the US Treasury.
I can't paste a link right now, but it was covered by some media.
I am curious how Obama handled tracking foreign revenue from his book(s) sales while he was president.
Anyone know? I've googled, but I am not really finding anything substantive about it.
Good question. It would be helpful to know what past president's did with foreign received monies. For example:
The U.S. Embassy in Egypt, for instance, spent $28,636 in August 2009 for copies of Mr. Obama’s best-selling 1995 memoir. Six weeks earlier, the embassy had placed another order for the same book for more than $9,000, federal purchasing records show.
About the same time, halfway around the world, the U.S. Embassy in South Korea had the same idea and spent more than $6,000 for copies of “Dreams From My Father.”
One month later, the U.S. Embassy in Jakarta, Indonesia, spent more than $3,800 for hardcover copies of the Indonesian version of Mr. Obama’s “The Audacity of Hope,” records show.
They don't get full price. The book companies get those. They get the author's royalty fee which is around 10-15% of the cover price AFTER they completely pay off the advance (which is repaid out of the royalty fee. The advance must be repaid before they get a royalty. So the $600 that Obama got ($900 if they were REALLY generous) went to pay back the advance that the book company paid him.)
originally posted by: CynConcepts
originally posted by: Byrd
originally posted by: CynConcepts
originally posted by: MotherMayEye
originally posted by: BlueAjah
Trumps hotels have a system set up to track foreign income and to donate it to the US Treasury.
I can't paste a link right now, but it was covered by some media.
I am curious how Obama handled tracking foreign revenue from his book(s) sales while he was president.
Anyone know? I've googled, but I am not really finding anything substantive about it.
Good question. It would be helpful to know what past president's did with foreign received monies. For example:
The U.S. Embassy in Egypt, for instance, spent $28,636 in August 2009 for copies of Mr. Obama’s best-selling 1995 memoir. Six weeks earlier, the embassy had placed another order for the same book for more than $9,000, federal purchasing records show.
About the same time, halfway around the world, the U.S. Embassy in South Korea had the same idea and spent more than $6,000 for copies of “Dreams From My Father.”
One month later, the U.S. Embassy in Jakarta, Indonesia, spent more than $3,800 for hardcover copies of the Indonesian version of Mr. Obama’s “The Audacity of Hope,” records show.
They don't get full price. The book companies get those. They get the author's royalty fee which is around 10-15% of the cover price AFTER they completely pay off the advance (which is repaid out of the royalty fee. The advance must be repaid before they get a royalty. So the $600 that Obama got ($900 if they were REALLY generous) went to pay back the advance that the book company paid him.)
I am curious since it seems to be a big deal that Trump may receive a small percentage of monies from foreign dignitaries staying at a Trump Hotel. I just can't see the difference...can you?
originally posted by: Byrd
originally posted by: MotherMayEye
originally posted by: Byrd
originally posted by: MotherMayEye
While looking into it, I noticed the profits from his last book, "Of Thee I Sing," published in 2010, were donated to a scholarship fund for children of fallen active military.
It one of those type scholarships where the money is paid directly to the college/university instead of the student, of course. And I can't find any specific info on recipients...but I wonder if Obama has been paid speaking fees at any of those colleges/universities that received scholarship monies?
Boy, wouldn't that be a slick way to filter the profits from that book back to himself, eh?
Do find a link, please. Multiple other reports of his "charities" say that he either donates nothing or gets someone to do a donation and then say it's his donation (and presumably takes it off his taxes.)
I was referring to Obama. Are you?
Oh. Sorry. OP referred to Trump. I thought you were talking about him. You could probably check Obama's tax returns (which are public) and find out.
originally posted by: Byrd
originally posted by: MotherMayEye
originally posted by: BlueAjah
Trumps hotels have a system set up to track foreign income and to donate it to the US Treasury.
I can't paste a link right now, but it was covered by some media.
I am curious how Obama handled tracking foreign revenue from his book(s) sales while he was president.
Anyone know? I've googled, but I am not really finding anything substantive about it.
Speaking AS someone who's authored books, he got very little.
President Obama earned between $250,000 and $2.1 million in book royalties in 2011, according to a financial disclosure form released Tuesday by the White House.
Exact figures are not available because the disclosure form lists only a range of income. But Obama earned between $50,000 and $100,000 in royalties for "The Audacity of Hope," his 2006 book that lays out many of his policy prescriptions. He earned between $100,000 and $1 million in royalties from each of his other two books: his memoir "Dreams From My Father," which was published in 1995 and re-released in 2004; and his 2010 children’s book, "Of Thee I Sing: A Letter to My Daughters."
originally posted by: Krazysh0t
a reply to: Phoenix
We don't have to provide the evidence. The lawyers arguing the case do.
originally posted by: Krazysh0t
a reply to: MotherMayEye
Just fyi, people don't tend to curry political favors by buying someone's book. Comparing Obama's book sales to foreign dignitaries booking Trump hotel rooms is a BIG difference. That's why no one brought up the emoluments argument during Obama's term. I hope you know that the process of the President making money isn't what the problem is. This isn't a, "well the liberals did it too!" situation as this situation is unprecedented.