April 18, 2008
That Six Pack? We Spoke Too Soon
John McCain's campaign released his 2006 and 2007 tax returns today. His wife's returns remain private, however.
The senator's 2006 taxable income was $215,304, for which he paid $72,771 in taxes. Last year, his taxable income was $258,800, for which he paid $84,460 in taxes. His book royalites, donated to charity, were $80,390 in 2006 and $176,508 in 2007.
Here's the campaign's note about Cindy McCain's tax info:
"Since the beginning of their marriage, Senator McCain and Mrs. McCain have always maintained separate finances. As required by federal law and Senate rules, Mrs. McCain has released significant and extensive financial information through Senate and Presidential disclosure forms. In the interest of protecting the privacy of her children, Mrs. McCain will not be releasing her personal tax returns.
"In her role as Chairman of Hensley & Company, a privately-held business founded by her parents, Mrs. McCain's main areas of responsibility focus on strategic planning and corporate vision. Having served the greater Phoenix area since 1955, Hensley & Company is widely respected as an exemplary corporate citizen, and makes significant charitable contributions of its own."
Cindy McCain is chairwoman of the Phoenix-based Hensley & Company, a large beer distributor.
The Democratic National Committee was, naturally, not satisfied with that explanation. Chairman Howard Dean said McCain's "lack of transparency is troubling and raises questions about what he's hiding." He also noted that the Republicans pushed in 2004 for John Kerry's campaign to release his wife's returns.
Dean: "In 2004, the Republican National Committee called on the Kerry campaign to release Teresa Heinz Kerry's tax returns, saying 'Americans value disclosure and transparency in campaigns.' We expect the RNC will call on John McCain to release Cindy McCain's records just as they called on the Kerry campaign to do so in 2004. The connection between the McCains' business ventures and their political ties have been well documented and the American people deserve to know how McCain's role as a public official may have benefited their bottom line."
Posted at 05:26 PM
Comments
Wow a guy who donated a quarter of his income to charity last year. Sounds really generous doesnt it? Problem is that the money went to the John and Cindy McCain Foundation. If you look at the tax returns for the McCain Foundation for the last seven years you find $500,000 in donations to:
Xavier College Preparatory
Brophy College Prep
Christ Lutheran School
What do these private schools have in common?
Why they are all private schools that his children attend or have attended.
The Senator is taking tax breaks supporting elite private schools for his kids.
All Perfectly Legal but….
mike | 05.04.08 12:36 AM
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