Sarah and Todd Palin have released their 2006 and 2007 tax returns; they are available at John McCain's website,
http://www.johnmccain.com/...
A couple of points:
- Todd's "business" of snowmachine racing looks like a hobby. He loses more money than he makes and he expenses what look like personal items. He seems to group expenses into separate years, so that he can show a small profit in one year, and a large loss the next.
- They don't give much to charity. $3325 in 2007 on $166,000 in gross income.
- They did not properly report the per diems for staying at home.
- The 2007 returns were filed after she was named to the ticket.
- Their effective federal tax rate in 2007 was 15%, and in 2006, 15.5%
No wonder they dumped these on Friday, on the day of the bailout, rather than on Monday, when they promised them.
We lawyers have our work cut out for us this weekend.