What will those returns reveal? And are they political fair-game?
As heiress to her father's stake in Hensley & Co. of Phoenix, Cindy McCain is an executive whose worth may exceed $100 million. Her beer earnings have afforded the GOP presidential nominee a wealthy lifestyle with a private jet and vacation homes at his disposal, and her connections helped him launch his political career — even if the millions remain in her name alone. Yet the arm's-length distance between McCain and his wife's assets also has helped shield him from conflict-of-interest problems. AP
From the same article:
McCain is routinely ranked among the richest senators. But a prenuptial agreement has kept most assets in his wife's name. That arrangement served as a defense for McCain when the Senate ethics committee scrutinized a real estate deal involving his wife, her father and disgraced savings and loan owner Charles Keating Jr. McCain said at the time the separation of assets helped prove the deal didn't benefit him.
McCain himself reports little more wealth than when he started in politics. With his book royalties and radio-appearance fees donated to charity, McCain's Senate salary of $169,300 and Navy pension of about $56,000 are his only significant sources of income. He has accounts at two banks with his wife worth up to $15,000 each, according to his most recent financial disclosure report.
In contrast, Cindy McCain is a millionaire many times over — though the McCains haven't disclosed just how many times.
In government records, McCain is permitted to describe his wife's salary at Hensley as simply "more than $1,000" and, when listing her major assets, say only that they are worth "more than $1 million."
And to another point, did you know that having multiple homes hurts the environment? Of course, naturally, you'd say. More homes means more electricity, greenhouse gases. A recent study concluded the harmful effects of divorce on the environment because of the subsequent expansion of homes:
In countries around the world, divorce rates have been rising — and each time a family dissolves, the result is two new households.
"That really has a big impact in terms of the environment," said Jianguo Liu, an ecologist at Michigan State University whose analysis of the environmental effect of divorce appears in this week's online edition of Proceedings of the National Academy of Sciences.
More households means more use of land, water and energy, three critical resources, Mr. Liu explained. washington times
Again from Johnny's website:
John McCain has a proud record of common sense stewardship. Along with his commitment to clean air and water, and to conserving open space, he has been a leader on the issue of global warming with the courage to call the nation to action on an issue we can no longer afford to ignore. linky
But, according to the original AP article, the McCains own at least eight homes. Talk about being a steward to the environment!
Arizona is a community property state, so McCain may share possessions his wife didn't inherit, such as their primary home. Cindy McCain, through a family trust, sold the family mansion in Phoenix for $3.2 million and bought a $4.6 million Phoenix condo in 2006. The couple may also jointly own a condo in Arlington, Va., assessed at $847,800. McCain's campaign and Hensley declined to say whether the couple has communal property.
John McCain held a barbecue recently for reporters at a two-story cabin near Sedona, Ariz., that sits on 15 acres owned by his wife's family trust and a real estate partnership in her name. The property includes four single-family homes and is worth nearly $1.8 million.
It's clear the rustic retreat is considered family property. The cabin features artwork by the McCain children and editorial cartoons depicting McCain. A doormat reads: "GEEZER (formerly known as `Stud Muffin') Lives Here." The amenities include a soda fountain and, of course, a Budweiser beer tap.
Read the article if you haven't! Good stuff.
When the returns are released, I hope they're investigated with the same rigor the other candidates (and spouses) are getting, to see what connections smell, see exactly how much the McCains are worth, and perhaps more importantly, why they're worth that much.
Comments are closed on this story.