in 2017 Obama purchased a home in the Kalorama neighborhood of Washington, DC for $8.1 million.
The Obamas also apparently still own their house in Chicago which they paid $1.65 million for back in 2005.
That's three homes.
What do you think the taxes, insurance, upkeep, utility and maintenance costs are per year on 3 homes worth $25 million? It has to be at least $1 million per year. Barack Obama must feel pretty confident that the cash is going to continue to flow his way.
For context, here is what Barack Obama said on the subject of wealth inequality a little over a year ago at a speech in South Africa.
“There’s only so much you can eat. There’s only so big a house you can have. There’s only so many nice trips you can take. I mean, it’s enough.”
Enough for who? What about you?
Of course, this is also the same guy who in the past lectured successful people that "they didn't build that."
If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business—you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.
You didn’t get there on your own. I’m always struck by people who think, well, it must be because I was just so smart. There are a lot of smart people out there. It must be because I worked harder than everybody else. Let me tell you something—there are a whole bunch of hardworking people out there.
If there is anyone that statement applies to it is Barack Obama.
Would he have anything like this if he had not gotten into politics?
Why does he think that his rules for others do not apply to him?
The media continually excoriates Donald Trump because it thinks he is enriching himself as President.
The Democrats have tried to argue that Trump has violated the "Emoluments Clause" of the Constitution because foreign dignitaries sometimes stay at the Trump Hotel in Washington or other Trump properties.
However, Trump was wealthy before he became President. Forbes magazine actually estimates that Trump's net worth has fallen since he first announced he was running for President. Forbes estimates he was worth $4.5 billion in 2015. It now estimates his net worth at $3.1 billion.
Obama has admitted that he did not pay off his student loans until 4 years before becoming President and he only was able to do that after his book, Dreams of My Father, was published. Presidential politics obviously pays very, very well. We saw a similar pattern with Bill and Hillary Clinton. It also seems to be a big reason that 25 Democrats got in the Presidential race. A politician can burnish their brand and pad their pocketbook when they run. The same for 17 Republicans in 2016.
What I find especially remarkable about the house purchase by Obama is that he will be investing that amount of money for 29 oceanfront acres of land and a luxury house on an island in the Atlantic Ocean.
|Future Obama Residence on Martha's Vineyard|
For context, this is the same Barack Obama who was quoted saying this by the New York Times in 2016.
This is also the same Barack Obama who said this in his 2015 State of the Union address.
"The best scientists in the world are all telling us that our activities are changing the climate, and if we do not act forcefully, we'll continue to see rising oceans, longer, hotter heat waves, dangerous droughts and floods, and massive disruptions that can trigger greater migration, conflict, and hunger around the globe,"
We often told that New York City, Hoboken, NJ or Miami Beach, FL are going to be underwater because of climate change. A handy website (whatismyelevation.com) provides the answer for any location on earth. One Wall Street in New York City is at 33 feet elevation. Hoboken is at 23 feet. The Fontainebleau Hotel in Miami Beach, FL is at 13 feet elevation.
I was curious as to what the elevation was for Obama's potential property is (79 Turkeyland Cove Rd., Edgartown, MA)
It's elevation is 3 feet above sea level!
Why would someone who truly believes that the trends are "terrifying" and "there is no greater threat to our future than climate change" plunk down nearly $15 million for property on an island 3 feet above sea level?
What must he really think of the claims of his fellow Democrats that the planet is facing ultimate catastrophe in 11 years due to climate change?
Buying that property is not the action of a climate change skeptic. That is the action of an out and out climate change DENIER.
Barack Obama was not much in favor of capitalism, having three homes and oceanfront living three feet above sea level a few years ago.
Martha's Vineyard has always had the reputation as a Democrat enclave.
Barack Obama appears well on his way to leaving the Democrat party. Look at all the boxes that are checked that don't quite fit.
He looks even more like one when you compare the policies he ran on for President in 2008 and 2012 with the current Democrat candidates.
Almost a Republican.