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Obama Releases Taxes, Urges Clintons To Do Same

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Mar 26, 2008 1:11 am US/Eastern

Obama Releases Taxes, Urges Clintons To Do Same

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WASHINGTON (CBS) ― The Obama campaign announced this afternoon it has posted the candidate's tax returns on its Web site and challenges Clinton to do the same.

"The returns are complete, including all schedules, and are now available to anyone to view," the campaign announced in a statement. "The Obama campaign urged Senator Clinton to join Senator Obama in making her returns public. Full disclosure on Senator Clinton's part is especially important because she recently loaned $5 million to her campaign, shortly after revelations surfaced that her husband was to receive a $20 million payout from Yucaipa, a supermarket holding company that invests in tax shelters in the Cayman Islands."

Obama and his wife Michelle reported joint income of $991,296 in 2006 (the most recent year released) which included $430,700 in salaries and $506,618 in reported business income.

In 2005, their income was $1,670,995 – a huge jump from 2004, when the couple reported earning $207,342. One interesting note, in 2006, the couple reported donating $60,307 to charity, including $22,500 to the Trinity United Church of Christ.

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