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McCain secretive about income

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Latest update : 2008-04-20

US Republican presidential candidate John McCain published his income tax returns, as did his Democrat rivals. However, the income of his wife, who inherited a multimillion-dollar beer distributorship, was kept secret.


WASHINGTON, April 18 (Reuters) - E.S. Republican
presidential candidate John McCain paid $157,231 in federal
income taxes for 2006 and 2007, according to records released
on Friday that did not include those of his wealthy wife,
Cindy.
 

McCain, 71, an Arizona senator, had taxable income of
$474,104 in those two years combined based on his Senate
salary, his book royalties, a Navy pension and Social Security
income.
 

McCain paid $157,231 in federal income taxes for the two
years.
 

During these years he and Mrs. McCain donated $340,323 to
charitable causes, most of it to the John and Cindy McCain
Family Foundation, which makes direct contributions to
charities.
 

The McCain campaign did not release the tax returns of
McCain's wife, who inherited a multimillion-dollar
Anheuser-Busch beer distributorship, one of the country's
largest, from her father.
 

"Since the beginning of their marriage, Sen. McCain and
Mrs. McCain have always maintained separate finances," the
McCain campaign said in a statement.
 

The McCains have been married since May 1980.
 

"In the interest of protecting the privacy of her children,
Mrs. McCain will not be releasing her personal tax returns,"
the McCain campaign said.
 

WIFE'S RECORD WITHHELD
 

The Democratic National Committee charged that by failing
to release his wife's tax records, "serious questions remain
unanswered about how John McCain's position as a U.S. senator
may have benefited John and Cindy McCain's business ventures."
 

"The connection between the McCains' business ventures and
their political ties have been well documented and the American
people deserve to know how McCain's role as a public official
may have benefited their bottom line," said DNC chair Howard
Dean.
 

Tax and income records have been an issue in the campaign
for the November presidential election.
 

Democratic candidate Hillary Clinton and her husband,
former President Bill Clinton, reported making $109 million
since 2000 after the campaign of Barack Obama accused her of
being overly secretive.
 

Obama reported making $4.2 million in 2007 and has been
challenged by the Clinton camp to release records from other
years.
 

McCain's income of less than $500,000 for 2006 and 2007
combined -- including $45,000 in Social Security income because
he is a senior citizen -- pales in comparison to his potential
opponents' income. But without his wife's information, it is
impossible to know the extent of the McCain family's wealth.
 

A McCain aide cited as precedent for withholding her income
information the case of Teresa Heinz Kerry, the millionaire
wife of Massachusetts Democratic Sen. John Kerry. Her records
were held back in Kerry's failed 2004 White House bid.
 

McCain donates his book royalties gained from such works as
"Faith of My Fathers," to charity. The sum has totaled more
than $1.8 million since 1998, the campaign said.
 

Since 1991, McCain has donated the increase in his Senate
salary to charity out of opposition to the congressionally
approved pay increases. The cumulative total is more than
$450,000, the campaign said.

Date created : 2008-04-19

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