President Obama told students at the University of North Carolina Tuesday that he knows what it is like to struggle with student loan debt because he and his wife didn’t pay off their student loans until eight years ago.
That may be true, but a quick look at the Obamas’ tax returns shows they were making enough to be considered “wealthy” by the president’s own definition in the years before his loans were paid off.
According to their tax returns, which are available on the White House website, the Obamas had a healthy, six-figure income by the year 2000 (the earliest return available). And for at least two years before his loans were paid off, Obama, by his own definition, made so much they were wealthy enough to pay higher taxes…
In 2001 and 2002, the Obamas would have met the $250,000 standard the president has set for those wealthy enough to afford to pay more taxes.
It’s also notable that the Obamas didn’t claim deductions for student loans on any of those years, most likely because they made too much money to qualify for the student loan deduction.READ THE FULL STORY AT ABCNEWS.COM
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