McCain Loves Tax Talk But Doesn't Release His Wife's Return
 Friday, April 18th, 2008

Republican Presidential candidate Senator John McCain talked a lot about taxes this week.  On April 16th, his campaign sent out an e-mail called "Have You Filed Your Taxes?" claiming that "if one of my Democratic opponents is elected in November, you can be certain your tax rate will increase across the board."  Today, another e-mail about taxes called "Lower Gas Prices?"  It said that McCain has laid out an economic plan this week aimed at providing immediate and long-term relief for American families by suspending the federal gas tax on gasoline from Memorial Day to Labor Day of this year.  This is one sly move by the GOP:  gas prices and taxes are two of the most moaned-about topics related to the economy right now.  Sen. McCain called it a "Gas Tax Holiday," claiming the move would be an economic stimulus with lasting effects.

But while we're on the subject of taxes, what in the world is John McCain doing with his in his household?  The LA Times posted an article today about John McCain releasing his tax returns this morning, and his individual filing did not include his wealthy wife's holdings at all.  Cindy and John McCain filed separate tax returns as they have throughout their marriage, and the Phoenix, Arizona heiress to a beer distributing company has an estimated worth of over $100 million.

So on his income alone, McCain reported $418,000 in actual income for last year - quite a hefty sum for a politician.  And almost $100k more than the year before.  The part that irks us most?  Over $23,000 of that was in Social Security, which Generation X'ers may see none of in the not-so-distant future if Social Security is not reformed soon...experts estimate that by the year 2038, Social Security, Medicaid, and retirement will be less than what Gen X & Y'ers are paying, so where will it come from?  But rest assured our taxes went to John McCain's $23k in Social Security for last year on top of his already near $400k income (not counting Cindy McCain's cash flow).

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