Presidential Wealth

American Presidents And Wealth Estimates In 2015!

Ronald 2 Comments

An update on the net worth of America’s Presidents, their total wealth at time of death, or for the living Presidents, what it is as of 2015, including inflation as a factor, reveals the following:

John F. Kennedy was the wealthiest President, worth within the range of $125 million to possibly $1 billion!

Due to this uncertain range, George Washington might be the wealthiest at $525 million.

The other Presidents over $100 million in net worth are:

Thomas Jefferson $212 million

Theodore Roosevelt $125 million

Andrew Jackson $119 million

James Madison $101 million

Five Presidents over $50 million up to $98 million include:

Lyndon B. Johnson $98 million

Herbert Hoover $75 million

Franklin D. Roosevelt $60 million

Bill Clinton $55 million

John Tyler $51 million

The next six Presidents are worth between $20 million and $27 million, as follows:

James Monroe $27 million

Martin Van Buren $26 million

Grover Cleveland $25 million

George H. W. Bush $23 million

John Quincy Adams $21 million

George W. Bush $20 million

The next five Presidents are worth $10 million to $19 million, as follows:

John Adams $19 million

Richard Nixon $15 million

Ronald Reagan $13 million

Barack Obama $12 million

James K. Polk $10 million

The next ten Presidents are worth between $2 million and $8 million, as follows:

Dwight D. Eisenhower $8 million

Gerald Ford $7 million

Jimmy Carter $7 million

Zachary Taylor $6 million

William Henry Harrison $5 million

Benjamin Harrison $5 million

Millard Fillmore $4 million

Rutherford Hayes $3 million

William Howard Taft $3 million

Franklin Pierce $2 million

The remaining 11 Presidents are worth between under $1 million up to less than $2 million, in the following order:

William McKinley

Warren G. Harding

James Buchanan onward are each worth less than $1 million downward, with Truman the poorest.

Abraham Lincoln

Andrew Johnson

Ulysses S. Grant

James A. Garfield

Chester Alan Arthur

Woodrow Wilson

Calvin Coolidge

Harry Truman

Many of the early Presidents were landowners and slave owners, and were, therefore, extremely wealthy.

The Presidents of the middle and late 19th century were mostly quite poor, including those who were military generals.

Presidents since 1929 have been generally much wealthier in most cases.

Many Presidents in modern times have become wealthy through speeches and writings.

Bill Clinton has the potential to become of the wealthiest Presidents in American history as time goes by, and more so, if his wife, Hillary Clinton, becomes President! The long term potential for Barack Obama is also for great wealth over his lifetime, leaving office at age 55!

The Net Worth Of America’s Presidents, According To Time Magazine Estimates

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As we come to the 57th Inauguration Day of the President of the United States, it is interesting to assess the net worth of our 43 Presidents who have held that office.

Time Magazine did a detailed study of this issue, and the details are quite fascinating and revealing.

Apparently, John F. Kennedy would be worth a billion dollars in 2010 US Dollars, making him the wealthiest President we have ever had, although the Christian Science Monitor estimate is much lower, $125 million, which would make Kennedy tied for third with Theodore Roosevelt.

If one accepts the Christian Science Monitor figure, then George Washington is number one in wealth with $525 million, followed by Thomas Jefferson with $212 million, and then Kennedy and TR with $125 million. Then comes Andrew Jackson with $119 million, and James Madison with $101 million. Notice that the wealthiest Presidents are early one with Southern plantations, plus the wealthy families of Kennedy and Roosevelt, our two youngest Presidents.

Lyndon B. Johnson follows with $98 million; Herbert Hoover with $75 million; Franklin D. Roosevelt with $60 million; John Tyler with $51 million; Bill Clinton with $38 million; James Monroe with $27 million; Martin Van Buren with $26 million; Grover Cleveland with $25 million; George H. W. Bush with $23 million; John Quincy Adams with $21 million; George W. Bush with $20 million; John Adams with $19 million; Richard Nixon with $15 million; Ronald Reagan with $13 million; James K. Polk with $10 million; Dwight D. Eisenhower with $8 million; Gerald Ford and Jimmy Carter, each with $7 million; Zachary Taylor with $6 million; William Henry Harrison and Benjamin Harrison (his grandson), each $5 million; Barack Obama, also $5 million; Millard Fillmore with $4 million; Rutherford B. Hayes and William Howard Taft, each with $3 million; Franklin Pierce with $2 million; and William McKinley and Warren G. Harding, each with $1 million.

The remaining nine Presidents have assets worth less than one million, in the following order: James Buchanan, Abraham Lincoln, Andrew Johnson, Ulysses S. Grant, James Garfield, Chester Alan Arthur, Woodrow Wilson, Calvin Coolidge, and Harry Truman.

So, the early Presidents and some 20th century Presidents are near the top of the list, while mid to late 19th century are not. Also, Lincoln, Wilson, and Truman, who all had a major impact in office, were quite poor on the scale of comparison to other Presidents. But at the same time, FDR, JFK, LBJ and Clinton, all Democrats, are four of the wealthiest eleven of all time! And Barack Obama is 28th out of 43 Presidents in net worth, with growing potential for him in the future!

Modesty And Humility: Not Traits Of Mitt Romney, As Compared To Wealthy Presidents!

Ronald 3 Comments

Mitt Romney was born with a “silver spoon” in his mouth to a father who was a success story in the auto industry.

Mitt Romney had the opportunity to attend Harvard for a law degree and a business degree.

Mitt Romney was able to use personal contacts, through his wealthy family, to multiply the wealth of the Romney family.

Mitt Romney grew up with an attitude of entitlement, that he was ordained to lead because of his family connections and business contacts.

Mitt Romney is not the first modern President to have similar advantages.

Theodore Roosevelt had these advantages. So did Franklin D. Roosevelt,. John F. Kennedy, George H. W. Bush and George W. Bush.

But none of the above wore their wealth quite like Mitt Romney!

All of them engaged in politics more than Mitt Romney, who took the route of the least government service and experience, a minimum four years as Massachusetts Governor.

All of the other wealthy Presidents at birth had their own character flaws and shortcomings as we all do.

But none of them were cocky and arrogant, at least in public, quite like Mitt Romney is!

And none of their wives quite acted as Ann Romney is displaying, also an attitude of entitlement and arrogance!

It is one thing to be wealthy. It is another thing to boast about it, to emphasize it, to be cocky and arrogant, and act as if one is entitled!

What Mitt Romney and Anne Romney lack is a sense of modesty and humility!

The other Presidents tried very hard to make the American people forget their personal wealth and status, although, of course, it was there for all to see!

But Mitt and Anne Romney exude wealth, and make it out to be a virtue they wish to publicize.

And no one really likes a wealthy person who acts this way. It is not a nice character trait to brag or to boast.

Rather, it is nice when one goes out of his or her way to divert attention to one’s wealth, and to show concern for average Americans who are not so fortunate.

So Theodore Roosevelt showed concern with labor rights.

So Franklin D. Roosevelt showed concern about the poor during the Great Depression.

So John F. Kennedy planned a War on Poverty, and concern about racial discrimination.

So George H. W. Bush showed concern about the problems of the disabled and handicapped.

So George W. Bush showed concern about health care prescription costs for senior citizens.

How has Mitt Romney displayed concern for those less fortunate than himself?

The answer is that he has NOT displayed concern for anyone less fortunate, wanting to see the auto industry collapse, as just the tip of the iceberg as to his lack of care about how ordinary people are affected in their daily lives. He has displayed lack of concern about labor rights, the plight of the poor, discrimination against Hispanics and Latinos, and the cutting of Medicaid for the disabled and elderly.

This man has no “heart”, and while one who is cynical might argue that the other wealthy Presidents were just putting on a facade of concern, the old saying goes: Action speaks louder than words!

Obama, Biden, And Romney: Income Tax Time!

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President Barack Obama and Vice President Joe Biden have finished and released information about their federal income tax returns, but Mitt Romney has asked for a delay in filing for six months!

Obama made far less in 2011, due to declining book sales, with his income being about $790,000, his taxes $162,000, and his effective tax rate being 20.5 percent.

Joe Biden, never well to do at any point of his life, reported income of $379,000, taxes of $88,000, and an effective tax rate of about 23 percent.

Both gave substantially higher percentages to charity than Romney, Rick Santorum, or Newt Gingrich reported in 2010.

Romney has what is believed to be $23 million in income from investments, with expected taxes of over $3.2 million, meaning a tax rate of about 15 percent, and in the past only about 10 percent charity, mostly to his own Mormon Church.

By delaying his 2011 tax returns, Romney only makes it a bigger deal closer to the election, and the call for him to release tax returns as extensive as he supplied John McCain in 2008 when he was considered for Vice President, will grow by leaps and bounds, particularly with the fact that his father, George Romney, gave tax information for about 20 years before his run for President in 1968! Why can’t Mitt be as forthcoming as his dad was 44 years ago?

And of course, whoever is the Vice Presidential nominee, will also have his or her taxes, effective tax rate, and charity contributions analyzed and exposed!

All this is not good for the Romney campaign, and it will be difficult to overcome the fact that Romney would be the wealthiest President ever upon taking office, more than George Washington was at the end of his life, with the certainty that someday, Romney will, just by investments, be the first billionaire President ever by the end of his life, if he serves in the Oval Office!

Presidential Empathy: The Shortcoming Of Mitt Romney’s Candidacy For President

Ronald 1 Comment

The reality of American politics, past and present, is that most politicians have always been very wealthy, as running for and serving in public office requires assets, and the time and effort needed to be elected and to serve in office.

No one has a problem with a politician’s wealth unless it leads to a belief that he has a callous lack of concern about the lives of ordinary people, a disconnect between the politician and the people.

Therefore, Theodore Roosevelt, Franklin D. Roosevelt, John F. Kennedy, George H. W. Bush, and George W. Bush came across as leaders who could connect to the American people at the time they were elected.

This is the problem of Mitt Romney, his inability to connect to average people, and demonstrate concern for the average American’s everyday existence.

We don’t fault a person being rich who wishes to govern us, but we do resent a person who looks down on us as the “plebeians”, who should just accept the “patricians” without any expectation of such leaders considering our needs and problems.

Mitt Romney’s Investment In American Financial Institutions: Not Preferred Over Bermuda, Cayman Islands, And Switzerland

Ronald 1 Comment

Mitt Romney, the former Massachusetts Governor, would be, by latest estimate, the FOURTH wealthiest President if he was elected, just behind George Washington, Herbert Hoover, and Thomas Jefferson, and ahead of John F. Kennedy, Andrew Jackson, Theodore Roosevelt, Zachary Taylor, Franklin D. Roosevelt, Lyndon B. Johnson, and James Madison.

Romney would have twice as much wealth (at about $250 million) than the last eight Presidents combined, from Richard Nixon to Barack Obama. And over time, he could be worth more than the three Presidents ahead of him, and become historically the wealthiest President ever!

And we have now learned that Mitt Romney pays only 13.9 percent of the wealth he has gained by investment, rather than by working, and that he has large amounts of money invested outside the United States, notably in Bermuda, the Cayman Islands, and in Swiss banks.

So while he wishes to promote American economic recovery, he is, apparently, not willing to keep his investments in America!

This could become a major issue in the Presidential campaign of 2012!