What I don't get is that if her fortune is $550 million, why is her income only $5 million?
I know interest rates are low, but surely she could do better than this.
Taxable and tax-exempt income is not true economic income. A lot of her assets are probably things like real estate, paintings, stock and the like. There would be no taxable or tax-exempt income on those until sold.
As Usual,I'm Clueless.
Perhaps A More Financially-Savvy Freeper Could Explain This.
This is her reported income for tax purposes. Her real income is probably much higher. Some of it is unrealized capital gains (assets went up in value, but she didn't sell them, so no tax is due).
The wealthy play by a different set of rules...
In addition to what others have said, I gather about half her income is from tax-free municipal bonds, which usually have a lower rate of return than taxable investments because they're tax-free.
Unless she rents out the manions, cars, clothes, etc. they produce no income.