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John McCain Releases Tax Returns
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ShareApril 18, 2008 12:42 PM
ABC News’ Bret Hovell reports: The campaign of Senator John McCain has released his tax returns for last two years.
For more, read ABC News' Jake Tapper's blog on McCain's financial "non-disclosure."
McCain earned $419,731 in income in 2007, from a combination of his Senate salary, book royalties and his pension and Social Security income. McCain paid $84,460 in federal taxes - $258,800 of his income was taxable.
Together, the McCains donated $210,000 to charity, most of which was given to a family foundation bearing their name. That organization distributes money to other charities directly, the campaign says.
What the campaign did not release were the tax returns of McCain’s wife. Cindy McCain, the chair of a beer distributorship in Phoenix, files a return separate from McCain. Her assets are estimated in the tens of millions of dollars, though she has not loaned money to McCain’s presidential campaign.
The McCain campaign pointed to John Kerry and his wife Theresa Heinz Kerry as precedent for the spouse of a presidential candidate keeping financial information private. In 2004 when the Massachusetts Senator was running for the White House, his wife’s tax returns were not released.
McCain’s Senate salary in 2007 was $161,708. The money he received as royalties for his five books, including the bestselling “Faith of my Fathers,” increased by nearly $100,000 from 2006 to 2007, when McCain was back in the spotlight with his presidential bid.
For more on this story from ABC's The BLOTTER, click HERE.
April 18, 2008 in Hunter, Duncan, Thompson, Fred | Permalink | User Comments (14)
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If McCain doesn't win the general election he can claim prejudice against the middle class! This gives him more credibility when slamming Obama, or even Hillary, as an elitist.
Posted by: BackSeatDriver | Apr 18, 2008 1:34:55 PM
Snoop is the kinda guy that voted for the bush-league twice. Anyone that did that should have to sit out this election for showing such a lack of common sense. Obama 2008!
Posted by: pt | Apr 18, 2008 2:01:23 PM
Alfredo...you're comparaing Obama to McCain? I would certainly compare Hillary to McCain...BIG money can buy you anything, but unfortunately she is running out of both money and time...
Posted by: cindyct | Apr 18, 2008 2:27:59 PM
By NOT releasing his wife's income tax returns, like Obama and Clinton, it makes it appear John McCain has something to HIDE!
Posted by: KYJurisDoctor | Apr 18, 2008 2:49:13 PM
If McCain is too old to run for president (Murtha comment), Murtha is too stupid to be a U.S. Congressman.
Posted by: wayne Staab | Apr 18, 2008 3:04:43 PM
Hillary or else McCain!!!!
Posted by: Joe from OH | Apr 18, 2008 3:47:50 PM
Obama may be powerful to tinfoil hatted leftist loons, which, represent about 20% of the population, but for the rest of us, we are not stupid. We know where this guy comes from: hate.
Posted by: Sue | Apr 18, 2008 4:01:43 PM
ABC is not a credible source for anything. I have to be more careful where I click.
Posted by: Dave | Apr 18, 2008 4:48:39 PM
Who out there think without a written statement McCain is going to respone to questions on the economy, war, his drinking problem, wife drug problem,with any more knowledge then the idiot we have running the county Now, that think the county is doing just find. tell me who voted for this man and is ready to do the same thing for this good old boy? I know lets have George and you know who do there debate? there good in asking question that doesn't require thought. ABC you are part of the Problem!
Posted by: t.v.eddie | Apr 19, 2008 9:56:41 AM
How is McCain able to collect social security? Can anyone provide an answer?
And the reason is that I thought all of his work was in the fed government...and they are not covered by social security.
Posted by: whitehousewatcher | Apr 19, 2008 10:48:07 AM
Maccain is a qualified president candidate.
he will be the 44th president most probably
Posted by: matty | Apr 20, 2008 3:49:20 AM
When I watch Mc Cain in interviews he looks like a politician of a bygone era. Very outdated and hungry for power in the twilight years. The Republican Party will cease to exist when GW leaves office. They are so afraid of losing a grip on Washington they are trying to throw everything at Obama now before he stands on stage with McCain, and people get a real look at the past and the future. Washington needs a breathe of fresh air, open the windows and air-out the smell of decades of entrenched stale politics as usual. We need a change and it's not McCain at 70+ years old. At this point, I really don't care if Obama or Hillary gets the nod.
Posted by: dee | Apr 20, 2008 5:26:23 PM
Personally Cindy's millions don't bother me as much as the fact that the McCain campaign accepted $2100 each from five members of the Joseph "mafia" Bananno family. Why? John McCain in response to a birthday party invitation from the crime syndicate patriarch, who lives in Tuscon, sent a note expressing his regret due to scheduling conflicts, that he would be unable to attend.
Posted by: 1masterstroke | Apr 21, 2008 10:39:17 AM
I think almost all voters understand that McCain is just another Bush and Cheney administration waiting to happen. McCain will say or do anything to get elected then say the Hell with you after he gains the office. Beware, McCain is so corrupt now that he is a totally damaged product trying to be repackaged as a bargain.
Posted by: seekUshallC | Apr 22, 2008 6:32:53 AM
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