Is the award taxable?
Not if his Treasury Secretary does his tax returns.
Its not the most undeserved award ever granted. After all, Henry Kissinger also received the Nobel Peace Prize. And Schicklgruber was Time's Man of the Year in 1939.
What has he done? What has Obama actually done?
What has Obama actually done to merit the Nobel Peace Prize this early in his administration? Besides talking.
Well he did pay the US' tab at the UN. But other than that, he has done nothing to merit this award, except for talking a good game. And so, he cheapens it.
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. For the traitor appears not a traitor; he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague.” Marcus Tullius Cicero