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Monday, April 21, 2008

McCain tax returns

I had a lot of fun with Obama’s, a little bit with Clinton’s, and now for a little fun with John McCain’s tax returns.

Here they are for 2006 and 2007, by the way.

What do I note?  First of all, the McCains file individually--presumably Cindy’s got a nice pre-nup that preserves her family fortune.  Most of their assets are in a foundation in their name.  Having looked at McCain’s assets, though--in the millions--it turns out that he’s no slouch in accumulating assets, either.  Let’s go further.

Look at the 1040; no capital gains, but a small and consistent amount of bank interest.  Now Schedule A; they’ve paid off their mortgage, and give a healthy portion of money to charity each year, too.  They have salary, pension, and family business income--a well diversified portfolio.

All in all, John McCain is by far the best candidate at handling money.

Comments

There is a certain sweet irony in the fact that Mrs. McCain chose not to release returns.  After all, Theresa Heinz Kerry withheld all but 2 pages of her federal tax returns.

Those who did not complain when Kerry’s wife chose not to make her returns public, can hardly complain now that Mrs. McCain has chosen the same non-disclosure.


“Poverty of goods is easily cured; poverty of the mind is irreparable.”

Bat One on April 21, 2008 at 01:37 pm

between 2001 and 2006, the John and Cindy McCain Family foundation “made contributions of roughly $1.6 million. More than $500,000 went to his kids’ private schools, most of which was donated when his children were attending those institutions. So McCain apparently received major tax deductions for supporting elite schools attended by his children.”

Tax Deductible School Vouchers

WOOF on April 21, 2008 at 02:10 pm

Yup, contributions to schools are deductible.  And your point is?

Bike Bubba on April 21, 2008 at 02:40 pm
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