Mrs. McCain changes her mind

[ldzppln]

Cindy McCain had $6 million income in 2006

By JIM KUHNHENN, Associated Press Writer
1 hour, 3 minutes ago

WASHINGTON - Cindy McCain, who two weeks ago said she would never make her tax returns public, revealed Friday that she had a total income of more than $6 million in 2006.

The presidential campaign of her husband, Republican John McCain, released the top two summary pages of her 2006 tax return, eager to avoid making her earlier refusal an issue in the contest.

The documents show that Mrs. McCain, who files her taxes separately from her husband, paid more than $1.7 million in federal income taxes — a tax rate of more than 28 percent. She reported nearly $570,000 in itemized deductions.

McCain's campaign said she had received an extension on her 2007 tax returns and aides said it is likely she would make those public when they are filed.

The Arizona senator released his own tax return last month, reporting a total income of $405,409 in 2007 and $84,460 in federal income taxes.

McCain's two Democratic rivals — Barack Obama and Hillary Rodham Clinton — released information about their taxes earlier. Both Obama and Clinton file their taxes jointly with their spouses, offering more detail of each family's wealth and income.

Obama and his wife, Michelle, reported making $4.2 million in 2007, while the Clintons reported $20.4 million in income.

Confined to only the summary pages, her released returns offer limited information. She listed $4.5 million in income from a broad category that includes rental real estate, royalties, partnerships and trusts. She also reported nearly $300,000 in salary income, more than $280,000 in dividends, and more than $740,000 in capital gains.

Heiress to a large Arizona beer distributorship, Cindy McCain's worth has been estimated at more than $100 million. Her assets, as listed in McCain's personal financial disclosure, are vast. But presidential and senatorial financial disclosures only require assets to be listed in broad ranges, and many of hers are valued at simply "over $1 million."

Last week, she sold off more than $2 million in mutual funds whose holdings include companies that do business in Sudan. John McCain has been a critic of the violence in that African nation.

Aides said that disclosing only the summary pages had precedent, pointing to tax information made public in 2003 by Democratic presidential candidate John Kerry's wife, Teresa Heinz Kerry.

In an interview aired on NBC's "Today" on May 8, Cindy McCain said she had no intention of making her returns public.

"You know, my husband and I have been married 28 years and we have filed separate tax returns for 28 years. This is a privacy issue. My husband is the candidate," Cindy McCain, wife of Republican presidential nominee-in-waiting John McCain, said in an interview aired on NBC's "Today" on Thursday.

Asked if she would release her tax returns if she were first lady, she said: "No."

Her response brought a prompt demand from Democrats for the McCains to be more open about their finances. Obama and Clinton have released tax information dating back to 2000. The Clintons also released their tax returns while Bill Clinton was president.

The McCain's have been much more limited in their disclosures.

"It is laughable for the campaign to release so little information and say they are being transparent," said Karen Finney, the communications director for the Democratic National Committee. "This is another indication that John McCain is not serious when he says he wants to run a transparent campaign, and a disturbing sign that a vote for John McCain is a vote for four more years of secrecy."

[oldstewball]

Actually, I don't think she should have to release her tax return. Don't get me wrong, I'm certainly not a fan of John McCain, but they have filed separate tax returns for the past 28 years, which is perfectly legal, though in my opinion, in most cases, pretty stupid (higher tax bracket). In her case it might have been pretty smart.

Look at the big picture though. Every one of them, whether they expose their tax return or not, could buy and sell most of us...and they do.

[hork]

it's no secret i'm not a supporter of the republican party in any shape, way, or form. but i am forced to agree with claire, he finances really are none of our concern and she's not running for president.

the only issue that i think needs to be public on her part is where the money comes from and only then to rule out any kickbacks should her husband win the election. other than that, she's a private citizen and her business should be her own.

[tymy]

Originally Posted by ldzppln

The documents show that Mrs. McCain, who files her taxes separately from her husband, paid more than $1.7 million in federal income taxes — a tax rate of more than 28 percent.

Certainly sounds like she paid more than her fair share. If I had to pay 28% of my income for taxes on top of what I pay for two college educations the rest of my family would not eat.

[P562045]

So I am supposed to just believe that the politicians in Washington are just there to serve the people and not a bunch of the most self serving people on earth?

There may actually be a few of these people left in Washington but they would be very hard to find indeed.

Just another excellent example of the people not paying attention to Washington yet again.

[P562045]

Why did Cindy "beer distributorship" McCain feel the need to release these financial records in the first place?

I seem to remember the story that she is as rich as the Clintons before this particular story came out.

[-mmm-]

Originally Posted by P562045

Why did Cindy "beer distributorship" McCain feel the need to release these financial records in the first place?

I seem to remember the story that she is as rich as the Clintons before this particular story came out.

Some of the things I read around the tubes said that John is hiding her money through her. Others whined about how unfair it was for Teresa Kerry to be forced to open her finances up and not Cindy (and in both cases the guy married into the money, I seem to remember that was a talking point for some around here last election).

Im with Claire/hork on this, but mine is more filed under a "who cares" department.