Ladies and Gentlemen, boys and girls, what do we have here? Its the second half of the McCain financial statement. It seems that Johnny-boy and Cindy Lou earned $4.2 million in 2007, but only paid $1.1 million in taxes. That's an effective tax rate of 26.1%. The returns appear to be for 2006 and 2007. I haven't even opened the link since I hadn't seen this on here yet...
I apologize for the short diary, but I am too interested in starting to shred these returns. Let's see if anyone else can help out and find something juicy!
Taxes Taxes Taxes
What can you find???
Why does stuff like this always happen on a Friday night?
UPDATE: There isn't much here. Most of the income comes from "Rentals, partnerships, S Corps., etc., and they didn't attach the schedules to this release. I'm not saying anything, but there is a lot missing....
More than $500k in deductions for 2007, but there is no factual support for those claims. I'm no AMT expert, but it seems that $4.2 million and $500k of deductions is precisely what the AMT is for. Any experts know more?