I read with interest and disbelief your report on the Obamas’ income declaration (“Obamas made $1.7 mn in 2010 amid income decline”, April 20). How does one even begin to understand, much less explain, this rather unusual – in the Indian context, at least – statistic?
The report says the Obamas (combined, mind you) made an annual income of just $1.7 million. On which they paid tax of 35 per cent. And gave away, in charity, some 14 per cent. And, here is the rub: this is the lowest income they have made since 2006.
I read that Obama’s income has actually been coming down year after year ever since he became president. That is remarkable, because, I read just a couple of days back that Y S Jaganmohan Reddy (son of the late Chief Minister of Andhra Pradesh, Y S Rajashekhar Reddy) has declared assets worth Rs 365.68 crore (that’s roughly $81.26 million). Remarkably, just two years ago, in 2009 this gentleman had declared that his assets were worth Rs 77.43 crore. Perhaps he inherited his father’s estate — that may account for the steep, dramatic increase. Jagan has paid advance tax this year of Rs 84 crore (about $18.9 million) The Obamas have mentioned that most of their income came from the books authored by Obama.
What tall stories will Jagan claim to have authored?
Satheesh Kumar, Mumbai
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