Campaign releases Cindy McCain's tax returns

[LeighAnn]

Source: NBC News

The McCain campaign released Cindy McCain's tax returns late Friday afternoon, and the numbers might make Joe the Plumber blush. The beer-company executive reported income last year of nearly $4.2 million, and more than $6 million in 2006.

The campaign released four pages of returns for 2006 and 2007--and none of the other forms and schedules that generally accompany complex tax returns--after 6pm EST. It's become a tired Washington ritual for politicians to deliver potentially embarassing news just before the weekend, when coverage typically slows. This campaign season, both the Obama and McCain campaigns have dumped documents on news organizations late on Fridays.

The tax returns show Cindy McCain paid taxes of $1.1 million last year and received a refund of $954,112 (for overpaying.) In 2006, the potential first lady paid $1.7 million in taxes and got a refund of nearly $300,000.

In a press release, the McCain campaign said: "Mrs. McCain had received an extension to file her 2007 tax returns because she had not received all information necessary to complete the returns. Senator and Mrs. McCain have filed separate tax returns throughout their marriage, because Mrs. McCain is an owner of a family business. Sen. McCain's tax returns were made public earlier this year."



Read more: http://deepbackground.msnbc.msn.com/archive/2008/10/17/1562754.aspx

[AlCzervik]

1. just a heads up, when you go to McCain's site and click on 2006 page 1 the scan

was huge, it's not tons of pages it just opens really big.

[JI7]

2. i love the reference to Joe the fake Plumber

[Faygo Kid]

3. $4.2 million? Wow, according to John, she's not rich. Takes $5 million, remember?

Good ol' middle class, barely making ends meet Cindy.

[angryvoter]

4. TAXES!!!!!!

:think: Has anyone noticed that her returns stated that she is due over 950,000 tax refund? Well I find it interesting that she is only paying approx. 5% taxes or less. Now I dont know about you but I dont make that kind of money and I pay 10%. I also noticed that she made more in 2006 and paid less????????????HMMMMMMMMMMMM Maybe this is what Obama is talking about huH?

[burf]

6. I'm confused

She paid 1.1 million and got a 950,000 refund. Does that mean she paid only just over a 150K to the government?

[wordpix]

9. I just ran the numbers and she paid 3.5% of her $4.4 million income in taxes, once

the "overpayment" was returned. I paid a hell of a lot more last year, making a hell of a lot less.

[never cry wolf]

7. I am no expert, but....

It would appear that her quarterly tax payment totals have exceeded what she really owes once all the deductions and loopholes allowed by the tax code are applied, hence the government owing her the difference. This appears to be nothing to get excited about.

[Baby Snooks]

5. Fair share?

It's ridiculous to have people claim they have paid their fair share when they only pay 20%, if even that, on an income of $6 million. I think maybe she paid 22%. In any case, not my idea of fair share.

I know quite a few Democrats in similar income brackets who like Republicans claim they pay their fair share but really don't. They also don't contribute in other ways particularly in their communities. They have millions in income but the bulk of their contributions go to politicians instead of non-profit organizations because of course they get something back from the politicians. They can get listed on invitations and programs for the ballet and the opera for $1,000. So why donate $100,000? And there's no real recognition benefit in "community organizations" so they write a check for $1,000 to United Way. And hope it "spreads out" and "trickles down" and helps "those" people.

I really get ill with the focus on the Republicans. Some of the Democrats are just as "elitist" about taxes and about "obligations."

Tax the $1,000,000 earners at a flat 50%. If Cindy McCain can't live on $3 million, or even $2 million, a year, well, pardon my French but fuck her. I wonder if what she released states what her "charitable" contributions were. The same should have been asked in 2004 of Therese Heinz Kerry who is very generous with the foundation money. Not her own.

Here's to Obama redistributing the wealth. Everyone's. Not just the Republicans.

[never cry wolf]

8. Flash from the past: right on!

But please don't expect too much from Obama. I love the man but the system is ingrained and he needs congress behind him 60% for any sweeping changes and that is NOT going to happen, as much as I wish it would. He will have to compromise and will, for now... Lets hope he starts a trent.

[Shoelace]

10. 5% taxes on 4 million bucks? Priceless

we pay more than that on our paltry 37K! Now if you include SS contributions which Cyndi doesn't have to pay, we don't have a helluva lot left!
K&R BTW. Between the Wall Street fat cats and the rich, we in the middle are screwed!