Campaign releases Cindy McCain's tax returns

Posted on Friday, October 17, 2008 6:42 PM ET
Filed Under:

By Jim Popkin, 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. In 2006, the potential first lady paid $1.7 million in taxes.

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."

The campaign added: "This release of Mrs. McCain's tax return information supplements the existing extensive disclosure of the McCain family's financial information. For the last 28 years, since Sen. McCain first ran for Congress, all of the sources of Sen. and Mrs. McCain's income, and all of their assets, have been fully disclosed through publicly available financial disclosure forms filed with the United States Government. There is no new information on this tax return beyond the actual amount of Mrs. McCain's income and taxes paid, because all other details of her personal and family sources of income and assets are already public."

Cindy McCain is chair of Hensley & Co., founded by her father and one of the largest Anheuser-Busch beer distributors in the United States.

In April, John McCain's campaign released his tax returns. Sen. McCain's taxable income was $258,800 last year. "In the past two years, Senator and Mrs. McCain have contributed $340,323 to charitable causes," the campaign said.

The campaign added at the time: "Senator and Mrs. McCain have kept their personal finances separate throughout their 27-year marriage. Accordingly, they have for many years filed separate tax returns. However, their home state of Arizona is a community property jurisdiction. In community property states, individuals maintain a separation of all property brought to the marriage, or inherited during it, but share financial responsibility for other assets..."

Comments

Mccains hides his money that he makes under his wifes company.  Please don't be fooled by the mere belief that he only makes 250,000.  he lives the life too well.  What ever dhe has he has.  don'y get it twisted.   Obama has not recieved all of his income that has been claimed. So he has not had time to give to  the charity because he has been campaigning and his wife has to feel things out so that he doesn't have time
It always amazes me how those given so much in this country can acheive so little.  Aside from her charity in the '90's, which she then used to enable her yet unpublicised (and I suppose "off-limits") drug additiction, she has not been involved in much of anything of value.  And John calls Obama a socialist for wanting to reestablish an inheritance tax?  Cindy's parent's money, sadly, would be better spent by the government.
So hypocritical to call out one candidate McCain for being in the top percentile financially (due to his marriage) when Obama himself is in the same.  He is earning vast amounts - millions in the last few years due to his books sales.  Sadly Americans appear to be willing to see imbalance where there is none simply to push the cause of a man who will be one of the most inexperienced and naive world leader we have seen in world history.
Im laughing at Becky from Pa comments..she is all over obama for only giving about 10% to charity and she has that right..but notice that the McCains made over 11 million last 2 years but only gave 340k to charity...a mere 3%..but Becky said not one word about this..hmmmm ..glass house??? wonder who this Republicrite is voting for..

TinaFey/Joetheplumber 2012
So Cindy and I both have the same effective Federal Income Tax Rate (and I make 1/1000 of what she "claims" as income).  I hope that's the only thing we have in common!
Socialism ?? Isn't that what just happened to those lucky bankers who were just bailed out with taxpayer money?

Bush/McCain have been trying to get rid of two more so-called socialist programs  Social Security and Medicare..

We can't let McCain do that..

Cidndy McCain spends a lot of time in third world countries doing charity work and gives a a large percentage of her income to charities why find fault because she inherited wealth atleast she understands other's needs and uses her own wealth and time to help address it.  How much of their own personal time and wealth to the stone throwers give towards helping others?  Most of the time liberals are only liberal with other people's resourses.  I say Good for the McCain's they have been responseable and charitable people.
I am anxious to see if or when Mr Obama is elected, the "tax Plan" put into effect.  I am a tax professional and see so many holes and misconceptions in his speeches.  I do not think he or his speech writers understand the tax system as it is now and Heaven Forbid he or McCain dicker with it without some professional help.  At least we are able to collect enough to keep government functioning.  Let's go slowly and thoughtfully and educate taxpayers so that they are not so resentful.  We have a remarkable country; lets not mess it up.  The Pied Piper is promissing just too much.  They call this "Silly Season" for a reason.  Do we really want to consider changes that draw us closer to the European models where unemployment is a REAL problem and let's have a close look at their health care systems before we mess with ours.  For those who are in need, perhaps the rest of us can work through our charities and through other organizations to address the problems we do have in the areas of health care and employment. Ours is not a perfect system but let's keep working at it.
No wonder he wants tax breaks for the wealthy, it sure does work for him. With their total income, he can't possibly feel our pain.
Gee whiz, folks.  Sounds like a typical pity party to me.  Everyone in this country who uses his noggin for something beyond a hat rack has the opportunity to bust his.her butt and become successful at whatever he wishes to pursue.  I disagree with wealth redistribution - you work for it and you're entitled to the fruits of your labor.  For the laggards who do not strive to succeed, if you want it; go earn it.  I worked multiple jobs for years until I decided to get an education and earn more.  Worked for me and I achieved some modicum of success that I was comfortable with.  My limitations were my own just as are yours and if you don't strive to succeed you won't.
Poor Cindy, she only has so much money and she will still get her part every year as Budweiser is the biggest selling beer and even though the family sold it due to hard times I guess to vesco.
Poor woman has to take a paycut maybe?
John is scared that she may have to be taxed more on that income of a pitisnce for her selling 12 ozs of stupid handed to her.
Americans who are not wealthy and vote republican are just stupid. Why would you vote against your class? Do you own 13 houses like the McCains and not even know how many you own? What could these people possibly know about middle class? Cindy McCains father was married before he had an affair with Cindys mother and she has a half sister who was left 10,000 in the will and Cindy got the Multimillion dollar business. The sister also had a credit card from the father and Cindy cut it off the day after he died. Is that the kind of selfish woman you want in the white house?
Blah, Blah, Blah...
Some people are rich and some are not. Some people give more to others and some do not.  Work hard, save your money, reduce your credit, give to others in need, and Dont believe any politician on anything, least yee be fooled by your own arrogance!  Go back to work America! What else do you think there is?  A better opportunity? Better than What? Create-Innovate-Multiply-Gratefully!
i truly despise the blood suckers like the McCain's of the world. These silver spoon derelicts were born into wealth-though that is not a crime-and have had everything handed to them on a platter. Cindy and John McCain haven't a clue what it is like to work their rear ends off and see it all go overnight because of the "me,me,me" mentality they and their "pigs from the trough friends" activities. Cindy has never worked a day in her useless life. Is it work inheriting a company? No. She simply lets the board continue on with the same policy and procedures daddy did. She only rakes in the money. John McCain's only dose of the real world was as a POW, which did not make him a war hero; only unlucky being captured. He had his first campaign paid for by wifey poo. If he is injured or finally succumbs to the dementia he presently exhibits he knows cindys money will take care of him if the government does not. A real job held by a real bonafide American is one that you actually have to work at and know that it can be taken away at any time with no warning,even when your performance is excellent. An American who really works at a job is aware that the ax can always fall. The McCain's of the world don't have a clue so why do they promote themselves as the average Joe 6 pack. I consider that insulting,but then again as a professional female having lived a long time on this earth i consider it a disgrace that someone as downright dumb as Sarah Pallen could even run for cleaning up the bathrooms in some "low life 6 pack red neck bar!" I truly despise her lying viscious attacks on a wonderful,gifted,and intelligent man like Obama.She was voted Governor,but that didn't mean she had any real abilities,other than smear tactics. Her husband,Todd is the one who actually has done all the brainwork and activities necessary in the office.Pallen is a lie and it terrifies me that she could be President of this country if McCain drops dead from old age or plain dementia!I will never call myself American again if those inferior animals come to office. My father was a real WWII hero and he fought for the very principles that Obama represents. McCain has sided with every vile rotten thing that G.Bush has done to ruin our country,destroy our standing in the world with the lies and torture and slaughter of our own people as well as the innocent Iraqi citizens.Bush and Cheney did this and McCain always the pansy went along for the ride. I truly hate this man and the low life gun totin,moose shootin mush brain sleaze bait white trash he chose for VP. I can write these things because i am a woman,i am white, and i had 4 children so Pallen doesn't have anything on me. I don't hunt,but I can cook any type of wild game! One big difference. I have a brain. I could have aced that Katie Couric interview when I was 16. I am embarassed for all women of intellect in this world that the best McCain could come up with is a MORON! Please don't tell me her accomplishments as a Governor of 18 mth experience,when G.Bush the other MORON had two terms as Gov. in Tx and he's the idiot who still can't stop embarassing us and the self same idiot who did Cheney(Satans brother)bidding and was too stupid to see that he was only a puppet to carry out the actions leading to the nightmare we are in now and the nightmare we have helped put the rest of the world in when Cheney and the ELITE trash deliberately took us down this road of destruction. Pallen admires Cheney and that tells the story on her level of sanity. It's really sad that the guillotine was done away for high crimes against our country. My grandchildren and all children in this country don't have a chance of surviving another 4 years of brain dead,(Bush,McCain,Palen) leadership along with the sons of Satan pulling their strings(Cheney,Rove,Rumsy,and the rest) and lets not forget the absolutely clueless imbeciles (the Joe and Josephine 6 packs of the low IQ's)who voted Bush in twice and are now mindlessly leading themselves to their own slaghter. For those of us who "see the handwriting on the wall" we don't deserve to see our country die a horrible death.                
John McCain and his wife may fill separate tax returns, but he enjoys the benefits of her money.  Why is he getting all the his govement benefits, like retirement, he doesn't need them.  
If he becomes Predient, he can start with cutting own benefits, all of it and live on the money his wife makes from the beer, and alcoholics.  Does she help to pay rehabitation for alcoholics?  They are just high paid drug pushers.
A Hedge fund owner made 3 billion dollars claimed it all as capital gains  paid 15% tax As personal income would have paid 47% so when they call for reducing /eliminating Capital gains tax It won't benifit Joe the Plumber But the rich
Becky, your comment about charitable giving is a bit fuzzy.  Let's take a closer look at both candidates since the topic was brought up:

You are correct that the Obama's made $1,655,106 and $983,826 in the years of 2005 and 2006, respectively.  And in that two-year timeframe they made charitable gifts of $137,622 ($77,315 & $60,307).  That makes their percentage of charitable contribution just over 5.2% - not up to Mitt Romney's standards, but not bad.

To compare apples to apples based on the timeframe in this article, the Obama's made $983,826 and $4,238,165 in 2006 and 2007, respectively. Their charitable gifts in that two-years span were $300,677.  That makes their percentage of charitable contribution in that timeframe just over 5.75%!

Although the McCain's gave a slightly higher dollar figure of $340,323 during the last two-years, their combined income during that two-year span was $11,003,855 ($6,387,096 in 2006 & $4,616,759 in 2007, which includes John's Navy pension).  That makes their percentage of charitable contribution just under 3.1%!

Lets summarize charitable gifts in 2006/2007:
McCain's = 3.1%
Obama's = 5.7%

And to "Rich" from Florida who said he wanted a successful person to lead the country - take a look at that $4.2M income last year by Barack!  Looks like you might get your wish.  And that income is self-made; it’s not the suga-mama's daddy's money.
According to the 2007 Federal Income Tax Tables the total tax rate at a $40k income level is 16%. Furthermore, the 2007 Federal Income Tax at a $70k per year income level would have been a  19.9% tax rate.  Both of these are less than the percentage of income Cindy McCain paid in 2007 Federal Income Tax.  Interesting.

When did it become so fashionable to demonize success?

Here's a true American idea; take the risk of starting your own business, work hard and smart, and build it into a very profitable business.  Now take "your" accumulated wealth and use it to become the philanthropist "you" want to become, and spread your wealth as "you" see fit.

As I recall, this idea is referred to as "Freedom of Choice" and a core value upon which this great country was built.
This is in response to Jessica below, who is wondering why she is paying a higher percentage of taxes on earnings of only $40,000 a year.

Basically you're the haplass victim of something called bracket creep.  Under the Republican congressional majority we were subject to for decades, the earnings brackets within the U.S. tax code hasn't been properly adjusted for true cost of living increases.  This means that you're paying a higher rate just as someone earning $40,000 in the middle of the 1980's would have done.  Of course the main motivation is to avoid increasing taxes at the highest earnings levels, leaving you to pay a higher price relative to your total earnings.

This is what Obama wants to fix.  Do you realize that under Obama's plan, a guy earning $500,000 would only have to pay roughly $3,700 in higher taxes a year, and yet we hear all of this incredible whining about the injustice of asking the wealthy to make such a proportionally small contribution to our issues.

IT'S TIME FOR A CHANGE! Analyze everything McCain says carefully because he's spinning the truth until we can't recognize it anymore
Have you folks overlooked the point that Cindy makes a lot of her money from selling beer to drunk drivers and under age party kids.
Why should anyone care how much money these candidates and their spouse make? Shouldn't we care more about how they understand how the economy works?
Mike - McCain never claimed "most Americans make over $250k"...not even McCain is idiotic enough to think that, that is not a real quote...be real.  And good comment Becky, all these people bashing McCain for making tons of money but look past Obama making 1.7 million. It's all the same after you his a certain amount anyway. The worries turn to how you're going to pay for your luxury items instead of how you're going to pay for necessities that the average person worries about like car payment, a modest home payment or rent, groceries, etc.
I'm surprised that she paid that much in taxes. Probably only because she's married to a public figure. before my health got bad i owned a very successful business and made tons of money . I 'ts a running joke among people like I used to be that paying taxes is only for the poor people. There are so many loopholes that the average person will never be able to access or know about. In all of the years that I made over 500k I never even paid 10% in taxes, and neither did anyone I knew. The average person pays a large percentage because it's taken from their paychecks. The wealthy can be creative with their compensation. I'm not making any judgements here, just telling the truth from my perspective.
How much did the Obama's make? How much tax did they pay, and can any of us afford his $28,000 dinner fundraisers. He is spending a record of millions of dollars on ads in this last two weeks!Most of his money for thse ads come from Hollywood!NOW where are his real interest? Not JOE or any other plumber. Brenda, Georgia
just goes to show how "in touch" McCain is with the average american.
Yeah?  Well who cares???  They called FDR a Socialist, too and guess who put our unemployeed back to work with the CCC & WPA?  Darn right; FDR!  And even though he saved our bacon, the Republicans still demonized him.  Will we never learn?  The Republicans only help the rich!
Lucky John the Senator good looking rich wife no crime there!
The crime is in the smears and ugly tactics to get into office the way his hug buddy W did when nobody wants him. Shame on the "Maverick" for that.
I think intellect trumps experience this year. One cannot learn good decision making and smarts no matter how old THAT one gets. The older I get the less I know it seems
PS I have no sympathy for Joe the plumber I have been trying to get a plumber to my house for months to no avail and have had to do the job myself, it turned out well and he wont have to worry about paying taxes on the money he didn't show up for at my house
When you pay taxes you are giving to charity due to the social programs administered by the U.S. government. Head Start, Food Stamps, Welfare, Medicaid, WICK, School lunch programs, SSI, etc.

Secondly, Obama's tax increase proposal only starts after you make 250,000. You would pay the same rate as now on the first 250,000. Senator McCain's taxes would only go up on the 8,000 over 250,000.

How could Joe the plummer buy a business when he can't even pay his taxes now? I suspect he may have been planted by the Republican party. It's the sort of thing they have become famous for.

Besides, Joe the plummer finally conceded his taxes would go down under Obama's plan.

Last, the 250 thousand cut off for small businesses means the owner would have to profit 250,000. Not that the business is worth 250,000. In addition, there would be exemptions for some small businesses which haven't been specified yet.

Just a few facts for the people who are misled by the GOP.
Just goes to show that the McCains are quite unlike the Obamas. The Obamas are "regular" people. I don't understand how so many "regular" people really ignore that point. Lets all us regular folks put some more rich folks in the White House. That should help things out a lot.
McCain and his VP are totally out of touch with the average citizen. He is living the high life, and Palin only knows Alaska, and not the "lower 48", her words not mine. I was apalled watching the debates, when the camera landed on Cindy McCain, wearing a fortunate of jewelry, around her neck. What an inconsiderate person. Remember this at election day.
McCains Tax disclosure is normal for people in government. We all knew they were beyond rich. Probably why he keeps going on about redistribution of wealth. Rick get richer and the poor get poorer. If he really cared about any of us he would try to help us instead of protecting those who dont need help. Everything about his campaign is either negative or helps the rich. Those of us who have dreams of financial independence have long felt the hopelessness of just trying to survive much less ever being rich. Watching the lack of responsiveness of Katrina, the billions of dollars borrowed from communist china to finanace the "Joke on us" Iraq war, his absolutely disgracefull campaign, we all have to wake up and KNOW that we cant do this anymore.
We want, we need some common sense in the oval office, no more jokes. McCain\Palin in the white house would not only be suicide for us but if we let these two get there we have only ourselves to blame and god help us.
Really now, come one...   America is built on the premise that you can have the American Dream whether it be making money, buying homes, having luxury cars, etc.   Cindy and her family have worked for this.   Leave them alone and get on to the real issues...   Too bad there is so much jealousy, anger, resentment towards fellow Americans...who have succeeded in their lifetimes.  If W. Buffett was running for office would you be picking him apart?  Move on, get over this and concentrate on being better Amerians....no wonder we can't have systems that work or peace on earth....  
There is nothing wrong with the McCains earning millions of dollars or owning seven homes and thirteen vehicles. The sin is that John McCain has been blessed with all that wealth, yet he has voted against raising the minimum wage 19 times, opposes tax cuts for the low and middle class wage earners while favoring more tax cuts for oil companies and other large corporations and opposes providing affordable health care so everyone will be covered.  
I don't care how much the McCains earn.  I just thnk it is interesting that they cared enough about others to give $340,323 and the Obama's gave $3,000.  I think that tells volumes about who cares about others and who does not.

The money does not even count the amount of time Cindy McCain gives to charitable causes.  
Cindy McCain is not successful!  She inherited all of her wealth!  She didn't work for it.


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Deep Background is NBC News’ investigative blog. It covers national security, terrorism, spies, Iraq, and politics, as well as government waste, fraud and abuse. It is edited by NBC News Senior Investigative Producer Jim Popkin.

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