McCain Releases His Tax Returns

But Republican Candidate's Returns Do Not Account For Wife's Estimate $100M Fortune

(AP)  Republican presidential candidate John McCain earned a total of $405,409 last year and donated a quarter of it to charity, according to tax returns that provide only a partial picture of his family's enormous wealth.

His 2007 individual tax filing does not account for his wife's estimated worth of $100 million.

McCain and his wife, Cindy, have kept their finances separate throughout their 27-year marriage, and long have filed their taxes individually.

The Arizona senator routinely is ranked among the richest in Congress. But a prenuptial agreement has kept most of the family's assets in the name of his wife, an heiress to a Phoenix-based beer distributing company.

Released Friday, McCain's return indicated that he paid $84,460 in taxes on taxable income of $258,800. He gave $105,467 to charitable organizations, most of which went to the John and Cindy McCain Family Foundation. The foundation then distributed much of the money to charities. The donations include royalties from five of his books, including the biographical "Faith of My Fathers" and "Worth the Fighting For."

His income included his Senate salary of $161,708, a Navy pension of $58,358 and Social Security income of $23,157. His return shows that he paid $17,700 in alimony last year; he and his first wife divorced some three decades ago.

McCain reported paying $136,572 in wages to household employees in 2007. Aides say the McCains employ a caretaker for a cabin in Sedona, Ariz., child care for their teenage daughter, and a personal assistant for Cindy McCain.

Aides say she will not release her tax returns to protect the privacy of the couple's four children; details of their wealth are included in her filing.

Because Arizona is a community property state, McCain and his wife each must report one-half of their shared income and expenses. So, though McCain reported $258,800 in taxable income on his 2007 return, the couple's joint taxable income was twice that amount. According to the returns, Cindy McCain's income from the beer distributorship, Hensley & Company, was $432,991 in 2007.

McCain's campaign also released his 2006 individual tax returns. For 2006, he reported paying $72,771 on taxable income of $215,304. He also reported charitable gifts of $64,695.

Earlier this week, Democratic presidential hopeful Barack Obama and his wife, Michelle, reported making $4.2 million last year. That was a significant jump in their income from the previous year. Profits from his books "Dreams From My Father" and "The Audacity of Hope" accounted for some $4 million. The Obamas paid federal taxes of $1.4 million and donated $240,370 to charity.

By comparison, Hillary Rodham Clinton and her husband Bill, the former president, reported $20.4 million in income for 2007 but have asked for an extension on filing their returns. Almost half the former first couple's money came from Bill Clinton's speeches. The Clintons have made nearly $109 million since leaving the White House in 2001, capitalizing on lucrative business ventures and his speaking engagements.

[mbcsmith]

Looks like the wealthy are the LIB candidates. So let''s hear from the LIBS who love to bash those evil money grubbing, tax-breaking, eat your children rich people.

[whatithink-2009]

mbcsmith,

Stop making the cons look bad. If you had read the article or knew anything about McCain you wouldn''t have wasted your time posting this garbage. His wife probably has more money than the three candidates combined (inheritance). Get a clue.

[glock4me]

Relative to Clinton and Obama, McCain is a man of the people. Why do the women and minorities have all the money and the poor white men have so little. Time to end the so-called affirmative action.

[whatithink-2009]

"Cindy McCain''s worth is estimated to be over $100 million."

Source CNN

[nchien]

The Clintons facing Fraud charges, hearing in a week and the media is not covering it.

The first lawsuit to haul a President and a Senator into Court for defrauding the Senator''s largest donor as part of a conspiracy to illegally win and keep a US Senate seat will begin discovery in May, 2008 as it proceeds to trial as confirmed by the California Supreme Court.

The discovery will expose an ongoing cover-up of the campaign finance crimes and the obstructions of justice directed by Hillary Clinton with the help of Bill Clinton and former DNC Chair Ed Rendell. The cover-up rivals Watergate in its corruption of each branch of government and the media.



Case Number: BC304174
PETER F PAUL VS WILLIAM JEFFERSON CLINTON
Filing Date: 10/14/2003
Case Type: Fraud (no contract) (General Jurisdiction)
Status: Pending

Future Hearings
04/25/2008 at 08:31 am in department 47 at 111 North Hill Street, Los Angeles, CA 90012

[whatithink-2009]

Glock4me,

You guys should be BANNED from voting. You let your stupidity lead you. That''s why we are in this mess today.

OBAMA + WIFE = $4M
CLINTON HUSBAND = $20M
MCCAIN ALONE = $260K
MCCAIN WIFE = ?

There is this thing called APPLES and APPLES.

[whatithink-2009]

Glock4me,

You guys should be BANNED from voting. You let your stupidity lead you. That''''s why we are in this mess today.

OBAMA + WIFE = $4M
CLINTON HUSBAND = $20M
MCCAIN ALONE = $260K
MCCAIN WIFE = ?*

*His wife will not release how much she made and he has filed separately from his wife.

There is this thing called APPLES and APPLES.

[whatithink-2009]

trapbreak,

I don''t care. I do care that some people are trying to call him a working man when his wife is sitting on a fortune.

[hp32970c]

The Clintons facing Fraud charges, hearing in a week and the media is not covering it.

The first lawsuit to haul a President and a Senator into Court for defrauding the Senator''''s largest donor as part of a conspiracy to illegally win and keep a US Senate seat will begin discovery in May, 2008 as it proceeds to trial as confirmed by the California Supreme Court.

The discovery will expose an ongoing cover-up of the campaign finance crimes and the obstructions of justice directed by Hillary Clinton with the help of Bill Clinton and former DNC Chair Ed Rendell. The cover-up rivals Watergate in its corruption of each branch of government and the media.

Which explains Ed Rendell''s endorsement. Birds of a feather stick together.

[element51]

While reading the above article one thing literally JUMPED out at me.
1. SENATE SALARY---161,708.00
2. NAVY PENSION----58,358.00
3. SOCIAL SECURITY-23,157.00
This makes the case for means testing. This guy is making 259,000.00 per year and is drawing social security. There are thousands of people trying to live on 1000.00 a month or less and in addition to his other income (plus being married to a multi-millionaire) he is getting huge social security payments. Does he really need the social security? Maybe if means testing were in place the system would not be in danger of going broke. I realize that he pain into the system but it just doesn''t seem right that he gets so much when others are having to choose food or medicine. (Oh yes, he gets free medical care too). On the plus side for him, he did give a lot to charity and I commend him for that. But when your wife is worth MILLIONS a few hundred thousand to charity is chump change. I don''t mean this as an attack at McCain. There are thousands of other wealthy people who are getting the same thing. My mother worked all her life and got 600.00 to live on. If us kids had not been able to help her she would have been unable to survive. I just think the whole system needs to be adjusted.

[element51]

I meant "PAID" into the system, not PAIN. Although it is a pain to pay. My fingers are not awake yet.

[element51]

ccfsdca....You''re right. Maybe he is luckier than me. I hope Cindy gives him a nice fat allowence each month. I have to ask my wife for coffee money which she sometimes can''t provide since gas is now almost 4.00 per gallon. I wonder if John feels the pinch when he fills up the old SUV?

[element51]

trapbreak....Since I don''t want to take credit for something someone else said I need to point out that none of my posts mention or have any thing to do with John Kerry or how much his wife is worth. I was posting on the subject of means testing and social security. Thanks for the credit but give it to the person who deserves it.

[flajoe1]

SOCIAL SECURITY-23,157.00
---

Posted by Element51 at 02:06 PM

That''s only $445.33 a month. This one I can''t fault him on. He paid into SS so he should get the payout.

Now reforming SS...Thats a whole issue in itself ;-)

[marcosis78]

Everyone already knew how much Kerrys wife was worth.

"Cindy McCain''s income from the beer distributorship, Hensley & Company, was $432,991 in 2007."

So let me get this straight, she makes $100 million a year and she only paid in $432,991? Thats either a) some *** good accountant work b) a slap in the face or c) Bush''s "tax reduction" to the rich.

I dont make much, seeing that I am a college student, but thats about .005% of their income. Like I said, I dont make much but from what I calculated from what I make a year they take out 20% of my check for taxes (I have no kids so alimony etc doesnt come into play) and then I added in my income tax check and overall I was still paying well over .005% of my total income to taxes. So how does that seem fair? They, or she, makes 100,000% times more than me and I have to pay more percentage of my check to taxes? This government is absolutely unreliable and unreasonable.

[element51]

Flajoe1....Joe, I checked the math and it comes out to 1929.75 per month. 23,175 divided by 12. And yes, since the system is set up the way it is now he should get the money. However, my point is that we need to examine the system and try to help as many people as possible with the funds available. I don''t have a thing against wealthy folks, good for them, but I also hate hearing about old ladies having to eat cat food. The origial purpose of social security was to make sure eldery people could survive, not to pay greens fees at the country club.

[glock4me]

Glock4me,

You guys should be BANNED from voting. You let your stupidity lead you. That''''s why we are in this mess today.

OBAMA + WIFE = $4M
CLINTON HUSBAND = $20M
MCCAIN ALONE = $260K
MCCAIN WIFE = ?

There is this thing called APPLES and APPLES.


--------------------------------------------------------------------------------

Posted by whatithink at 01:23 PM : Apr 18, 2008

whatithink, perhaps you should do a little more reading and a little less guessing. If you had read the article you would have seen the following sentence: "Cindy McCain''s income from the beer distributorship, Hensley & Company, was $432,991 in 2007."

So filling in that amount in place of the "?" in your "equation", I see that the McCains still make less than the eletist dems.

How ''bout them apples, whatithink?!?

Tax returns are concerned with income not wealth. You are probably confused about the whole deficit versus debt discussion as well.

I vote in every election and I do so to cancel out the votes of people like you... people that form opinions on topics before reading for factual information (assuming CBS provides facts).

[flajoe1]

Flajoe1....Joe, I checked the math and it comes out to 1929.75 per month. 23,175 divided by ----

Posted by Element51 at 02:44 PM

OOOOPs my bad I used 52 weeks... I guess I''m a product of the US education system :-)

I would like point out that if I retire at age 67 I''m currently scheduled to get $1,919 a month

[shingles1]

"His return shows that he paid $17,700 in alimony last year; he and his first wife divorced some three decades ago."

Excuse my ignorance, but why is he still paying alimony to a wife he divorced three decades ago?

[whatithink-2009]

shingles1,

After she waited six long years for him and had a terrible car accident, he returned home to cheat on her continuously with other women, the last being the current Mrs. McCain. He''s lucky that is all he is paying. The loser.

[element51]

trapbreak....Come on man...Don''t try to turn this into a right verses left issue. All I''m trying to say here is that if we are going to have a safety net for senior citizens, and I think we should, then let''s take a look at who is really in need. I know that to you that sounds like socialism but there is a big difference between compassion and socialism. There are some who post here who say that no one should get help from the government and they are entitled to their opinion. I just disagree. I do believe that smaller government is better government but we all know that isn''t going to happen. It just doesn''t make sense to pay someone who has a huge income from other things and allow those less fortunate to suffer. We may or may not agree on this one but there are other things that we are on the same page about. That''s what makes America a great place to live.

[gkc99]

So McCain is benefitting from his wife''s fortune, but refuses to disclose it. As if what makes his wife money could never possibly under any circumstances influence McCain''s vote.

Does McCain''s wife have a big stake in the Mexican trucking industry, explaining why John is such an active lobbyist for putting Mexican trucks on U.S. freeways?

And let''s not forget how McCain, as one of the Keating Five who was involved in the huge savings and loans swindle of Keating, shielded his money well from scrutiny by pretending it was an independent fortune.

Haven''t we had enough of the ultra-rich running our country, even if the guy has to get it from his wife? Enough of the Bushes, the McCains, and the Clintons.

Obama for President!

[whatithink-2009]

Glock4me,

First, this article has been updated since I posted first.

Second, if she has a net worth of $100M and only made $400K last year, she is an idiot.

[shingles1]

Yeah, but why is he still legally obligated to pay alimony? I always thought it was until the kids were grown. Do you continue to pay until your ex gets married? Or is it just because he''s a really swell guy?

Surely there are some divorced Republicans out there who can answer this question.

[whatithink-2009]

I correct myself. Either she is an idiot or is funneling a good portion of her income through some foundation or tax shelter which makes it untaxable. After all, tax returns only include your TAXABLE INCOME. It does not mean your GROSS INCOME.

[whatithink-2009]

shingles1,

He probably made the agreement to keep her quite. I also think it might become some places to have to pay alimony to your wife until the point that she gets re-married. If she is not re-married, he still would have to pay.

[omaar-101]

(R) Karl Rove: Please Thank Him along with George W. Bush Jr. For All the Prosperity, Good Will, World Respect, Brotherhood & World Peace, that he and George Bush Jr. has Bestowed upon..

The Great People US Of A...

Karl: Thanks also for trying your Damndest, your Very Best, to Convince your (R) Party, that its Nominee, is the Republicans, Best Offering and Chance...

72 Yr Old Senator John Semi-Senile Puppet..McCain !!!

Joe Lieberman: Tell him the Words and Pray, he gets it Right !!

Mundane John McCain and his Beer Baron Heiress, the Multi Millionaire, to whom McCain had to sign a prenumptial Agreement, yet have All Access to Her Millions.

Yet is Supposedly Free from All Political Corruption !!

[flajoe1]

Yeah, but why is he still legally obligated to pay alimony? I always thought it was until the kids were grown. Do you continue to pay until your ex gets married? Or is it just because he''''s a really swell guy?

Surely there are some divorced Republicans out there who can answer this question----

Posted by shingles1 at 03:14 PM

Your confusing alimony with child support. Alimony is payment to the ex-spouse which could go on forever.

[element51]

Flajoe1....I''m glad that you will receive that much. I know you, like most of us, worked hard all your life and you deserve every penny of your social security. I had to retire at 63 due to poor health and I get 1011.00 per month. I''m glad to get it. But if I had and annual income of 60 or 70 thousand a year I wouldn''t need it. I don''t know how old you are but I just hope that when the time comes it will still be there for you. If the politicians had kept their slimy hands off, the system would not be in danger of going under.

[shingles1]

Aha, thank you both for the clarification.

[leefro]

So McCain is a man of the people? I didn''t realize so many of "the people" were making over $250,000 per year.

[omaar-101]

Then Obama will Easily Beat a (72 yr Old) Semi Senile Old Man...

Young People & Middle Aged People of All Demographics Favor Obama.

They wont Elect this Senior Citizen...

They will Not Vote for Grandpa !!


He!! Im from Georgia & raised in South Carolina, Good ole Boys at the Bar, Wont Vote for an old A!! 72 Year Old Man...

No matter how White & Republican, He is !!

Note: Good ole Boys & Girls are constantly recalling Ronald Reagan (Alzheimers) and their own 72 old Parents Or Grandparents, You must really think Good ole Boys are Brainless, Common Sense, But Not Brainless.


Obama has Won in the South by Large Margins !!

South & Mid Western Staes have Southern Heritage

Texas

Missippi

Georgia

South Carolina

North Carolina (Projected Winner)

Louisiana

Iowa

Many Mid Western States


Total Delegate Count

Democrats | 2,025 Needed to Clinch

OBAMA 1,638

CLINTON 1,495
EDWARDS 18

Republicans | 1,191 Needed to Clinch

MCCAIN 1,241

HUCKABEE 231
ROMNEY 149

CBS News estimates. Includes super delegates.

[flajoe1]

I don''''t know how old you are but I just hope that when the time comes it will still be there for you. If the politicians had kept their slimy hands off, the system would not be in danger of going under. ----

Posted by Element51 at 03:19 PM

Thanks, I''m 47 and doing everything I can to make sure I will not have to rely on SS when and IF I retire. Actually we are on the same page with respect to SS.

[notblue]

leefro, what did Obama and Clinton make last year? Are they "men of the people" by those standards?

[leefro]

@notblue...I grant you that point. I was responding to the person that indicated John was "a man of the people" because his income wasn''t as high as Hillary and Barack''s. Currently, none of them can claim to be men or women of the people from a financial standpoint. If the measurement is based on the time from birth to now, then Barack would be the least elitist.

All of this elite talk is stupid anyway. Being elite is a mindset. I know people that make $50K a year that walk around like their $H*& don''t stink and try to live elegantly.

[element51]

Flajoe....You still have quite a while to go. It''s good that you are thinking down the road though. Please permit me to offer a piece of advice. One of the Best things you can do is to get your home paid off as quickly as you can. We were lucky and received a small inheritance and used it to pay on our mortgage. As a result we got the house paid for and it has made a world of difference. We have some savings but unless you have some big bucks put back you can''t earn enough interest to make much of a difference. And you have to pay taxes on any interest you do earn. Even if you are willing to go with high risk investments where you can earn more, you run the risk of getting Enroned. Bank savings rates are about 1.5% right now. Owning your home and no credit card debt is about the best thing you can do. Good luck to you. Oh one more thing. Even though our home is paid for we still pay almost 300 dollars a month in property tax. Plus insurance premiums. It just never stops.

[glock4me]

Glock4me,

First, this article has been updated since I posted first.

Second, if she has a net worth of $100M and only made $400K last year, she is an idiot.


--------------------------------------------------------------------------------

Posted by whatithink at 03:13 PM : Apr 18, 2008

whatithink, I appologize. I did not realize that your comments were made without that piece of information.

However, I "might" disagree with your statement about McCain''s wife being an idi0t. Keep in mind that she only was forced to *claim* $400K in income. I''d bet she actually made much more than that amount that was non-taxable. People in income brackets above ours (I''m making an assumption that you make significantly less than the 3 presidential candidates) have ways of skipping out on the check... regardless of party. Anyone parading around like a "man of the people" will not get my vote.

[ossifier]

Via Crooksandliars...Cogitamus asks the question that I%u2019ve been pondering for a while.



Do you think if Barack Obama had left his seriously ill wife after having had multiple affairs, had been a member of the %u201CKeating Five,%u201D had had a relationship with a much younger lobbyist that his staff felt the need to try and block, had intervened on behalf of the client of said young lobbyist with a federal agency, had denounced then embraced Jerry Falwell, had denounced then embraced the Bush tax cuts, had confused Shiite with Sunni, had confused Al Qaeda in Iraq with the Mahdi Army, had actively sought the endorsement and appeared on stage with a man who denounced the Catholic Church as a ***, and stated that he knew next to nothing about economics %u2014 do you think it%u2019s possible that Obama would have been treated differently by the media than John McCain has been? Possible?

And %u2014 this is fun to contemplate %u2014 if Michelle Obama had been an adulteress, drug addict thief with a penchant for plagiarism %u2014 do you think that she would be subject to slightly different treatment from the media than Cindypills McCain has been? Anyone?

I don%u2019t have anything to add; I just thought I%u2019d throw this out there.

[glock4me]

Just had a thought... do you think that the *grand inseminator* of that Texas polygamist cult gets to claim 400+ dependents. Holy krap!! What will his tax rebate be?

[jersupporter]

Obama for President! Posted by gkc99
------------------------------------
Seriously, if you do not think big money got Obama to the top - you are insane.

[element51]

leefro....You are right on! Everybody knows that you don''t run for president if you''re Joe Sixpack. (Even if Hillary did knock a few back with the boys.) And this eletist thing is totally stupid. After the election give the winner a call and invite him/her out for a beer. Betcha they won''t return your call. There are always those who think they are better than others when in reality we all go out with exactly what we came in with. A person should be measured by their character not by the size of their bank account.

[element51]

OSSIFIER...This is one of the best posts I have seen. You present the picture in such a clever way. And by God man, you are right. I read your post, read it again and sat here and LAMO. Please keep posting. I''ll look forward to your insight.

[harrydoghiny]

McBush needs to make his wife''s tax returns public.
Every other candidate has done so willingly, what is she hiding and why isn''t the corporate-media asking the hard questions?

[omaar-101]

Hillaryin2012: Its a Primary, no kidding, no ***...

Thank You for noting the Primary Results noted Below... A!! Hole !!

Obama is WINNING...You Snaggled Touth Jack A

Then Obama will Easily Beat a (72 yr Old) Semi Senile Old Man...

Young People & Middle Aged People of All Demographics Favor Obama.

They wont Elect this Senior Citizen...

They will Not Vote for Grandpa !!


He!! Im from Georgia & raised in South Carolina, Good ole Boys at the Bar, Wont Vote for an old A!! 72 Year Old Man...

No matter how White & Republican, He is !!

Note: Good Ole Boys & Girls are constantly recalling Ronald Reagan (Alzheimers) and their own 72 old Parents Or Grandparents, You must really think Good ole Boys are Brainless, Common Sense, But Not Brainless.


Obama has Won in the South by Large Margins !!

South & Mid Western Staes have Southern Heritage

Texas

Missippi

Georgia

South Carolina

North Carolina (Projected Winner)

Louisiana

Iowa

Many Mid Western States


Total Delegate Count

Democrats | 2,025 Needed to Clinch

OBAMA 1,638

CLINTON 1,495
EDWARDS 18

Republicans | 1,191 Needed to Clinch

MCCAIN 1,241

HUCKABEE 231
ROMNEY 149

CBS News estimates. Includes super delegates.

[david1737]

McCain lost me last year when he LIED about the situation in a Bahgdad market which he took a walk through.

The market was described as being %u201Clike a normal outdoor market in Indiana." When in fact, McCain had to be protected by more than 100 soldiers in armored Humvees, with attack helicopter circling over head, and snipers on the roof tops near by.

Bottom line McCain can''t be trusted, especially in respects to his depiction of the situation in Iraq.

McCain isn''t Able.

[omaar-101]

Hillaryin2012: Its a Primary, no kidding, no ***...

Thank You for noting the Primary Results noted Below... A!! Hole !!

Obama is WINNING...You Snaggled Touth Jack A$$

Then Obama will Easily Beat a (72 yr Old) Semi Senile Old Man...

Young People & Middle Aged People of All Demographics Favor Obama.

They wont Elect this Senior Citizen...

They will Not Vote for Grandpa !!


He!! Im from Georgia & raised in South Carolina, Good ole Boys at the Bar, Wont Vote for an old A!! 72 Year Old Man...

No matter how White & Republican, He is !!

Note: Good Ole Boys & Girls are constantly recalling Ronald Reagan (Alzheimers) and their own 72 old Parents Or Grandparents, You must really think Good ole Boys are Brainless, Common Sense, But Not Brainless.


Obama has Won in the South by Large Margins !!

South & Mid Western Staes have Southern Heritage

Texas

Missippi

Georgia

South Carolina

North Carolina (Projected Winner)

Louisiana

Iowa

Many Mid Western States


Total Delegate Count

Democrats | 2,025 Needed to Clinch

OBAMA 1,638

CLINTON 1,495
EDWARDS 18

Republicans | 1,191 Needed to Clinch

MCCAIN 1,241

HUCKABEE 231
ROMNEY 149

CBS News estimates. Includes super delegates.

[rudy654-2009]

Do you think if Barack Obama had left his seriously ill wife after having had multiple affairs, had been a member of the %u201CKeating Five,%u201D had had a relationship with a much younger lobbyist that his staff felt the need to try and block, had intervened on behalf of the client of said young lobbyist with a federal agency, had denounced then embraced Jerry Falwell, had denounced then embraced the Bush tax cuts, had confused Shiite with Sunni, had confused Al Qaeda in Iraq with the Mahdi Army, had actively sought the endorsement and appeared on stage with a man who denounced the Catholic Church as a ***, and stated that he knew next to nothing about economics %u2014 do you think it%u2019s possible that Obama would have been treated differently by the media than John McCain has been? Possible?
Posted by OSSIFIER at 03:45 PM

If Obama had done any of those things, it would have been front page news, all of the rednecks would be claiming that they were going to vote for him but now they''re not, Hannity would play some tape over and over again of a crying wife, and Limbaugh would get his lap dog Snurdly, who is Black, to say racist things about Obama (as if getting an African American to say racist things against another African American makes it okay).

[david1737]

"...if she (McCain''s wife?) has a net worth of $100M and only made $400K last year, she is an idiot."


There''s this place called Grand Cayman. I would hope that we all know about off-shore banks.

[david1737]

Obama is the best qualified for the position of President simply because he could sell ice cubes to eskimos.

Obama 2008!

[omaar-101]

John McCain makes Young America, Glad their Young !!

John McCain, makes Middle Aged Americans Dread getting Old !!

John McCain makes Old Americans realize how long they Truly have on the Planet Earth !!

John McCain makes Old Americans thnk, D@mn Hes (72 Yrs old) its a Crying Shame, McCain, Marrying his Grand Daughter...

Excuse Me, Thats his Wife !!

Oh My God..Im Old !!

You say, Shes Rich Too !!

She Married him and Shes not Ill or Insane !!

Man Am I ...Old

An Boy, Oh Boy, is McCain Lucky !!

Wow... Shes Rich & Much Younger than McCain !!!