John McCain releases his tax returns -- but not hers*

John McCain has just released details from his tax returns from 2006 and 2007, and possibly the most interesting tidbit is that he did not release his wife's returns -- and McCain married into wealth. According to the campaign:

"Since the beginning of their marriage, Senator McCain and Mrs. McCain have always maintained separate finances. As required by federal law and Senate rules, Mrs. McCain has released significant and extensive financial information through Senate and Presidential disclosure forms. In the interest of protecting the privacy of her children, Mrs. McCain will not be releasing her personal tax returns."

Now you just know that's going to kick up a little dust storm. The Obamas and Clintons have made their returns available, filing jointly. So expect some political fencing over that. It's one thing to keep that kind of financial information in reserve when you're running for a safe Senate seat. It's another thing to not divulge your spouse's potential financial conflicts -- or gains -- with policy decisions you would make as president.

As for the details, McCain took in about $321,000 in 2006 and about $420,000 last year. The big jump came in book royalties, though the oldest candidate in the field also received $23,000 from Social Security last year, up slightly from the year before. And he gets a Navy Air Force pension.

In 2006, McCain and his wife donated, from community assets, about $129,000 to charity and $211,000 last year. Most of that money, though, went to the John and Cindy McCain Family Foundation, which the campaign said in turn makes contributions.

*UPDATE: No surprise, Democratic National Committee Chair Howard Dean is already teeing off on the issue, releasing this statement a little while ago:

"John McCain's lack of transparency is troubling and raises questions about what he's hiding.  From his willingness to skirt FEC law to releasing less information about his tax returns than any other candidate since Ronald Reagan, John McCain continues a troubling pattern of thinking the rules don't apply to him. McCain should hold himself to the same standard set by past presidential candidates, both Republican and Democrat, and the example already set by both Democratic candidates.

"In 2004, the Republican National Committee called on the Kerry campaign to release Teresa Heinz Kerry's tax returns, saying 'Americans value disclosure and transparency in campaigns.'  We expect the RNC will call on John McCain to release Cindy McCain's records just as they called on the Kerry campaign to do so in 2004.  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."

-- Scott Martelle

Comments

[Howard Roark]

Now watch as the media shoves this under the rug and keeps asking Hillary Clinton about Bosnia and Barack Obama about flag lapel pins. Idiotic.

[Mike Connor]

McCain is retired from the Navy, not the Air Force. He is running for President, not her. If they chose to file separately that is their business not ours. Get over it.

(A couple others pointed that error out. We fixed it).

[Bobby]

I'm certain that the Navy will be distressed to learn that they've lost one of their most famous retirees to the Air Force!

[Ron]

The reason that he didn't release his wife's tax return is that they have a prenuptual agreement. They file separate tax returns.Do you really think that she trusts this guy enough to give him half her money ?

[gwen gentry]

I feel confident that a McCain or related member gets a salary for running the McCain foundation. How convenient. If the other canditates spouses tax info is available to the public, Mrs. McCain's should be also. Why is she entitled to SPECIAL treatment?

[BobsAdvice]

Why are we not surprised?

I wouldn't want any of the facts to interfere with the perceptions. After all, it is Obama who is the elitist isn't it? It is Obama who cannot bowl a decent score because of his elitist and elevated status. John McCain is so unlike Senator John Kerry who married that rich woman Theresa. But this isn't ketchup this time, this is beer and alcohol of Anheuser Busch. And Senator McCain is consistent....like he was against torture before he was for it, and he was against the tax cuts before he was for them.

So let's see what the McCains have to say about this failure to reveal their finances to a jaded American audience who is tired of the same old politics of obfuscation and avoidance that we have had the past eight years.

Will the media pay attention to this? Or would they rather talk about a Northwestern University professor with a colorful past?

Or maybe we should think about Mr. Obama and his lapel pin.

We don't need 100 years of this kind of politics in America. Time for change.

[Bob]

Who cares??? He's part of the Bush regime.

[Concerned citizen]

So he has to draw social security when his wife is a millionaire- great

[Danny]

McCain gets a salary from being a senator , Social Security , Navy pension , book fees and free health care. Talk about a free ride. People are struggling to make ends meet , unemployed and no health insurance. He has the audacity to say Obama is out of touch. I know that he has earned a pension and social security but the man is working full time. My tax dollars are paying him 3 times. Give us a break.

[Wethal]

McCain was in the Navy, not the Air Force.

[catpurrson]

Does this really surprise anyone? After the crucifixion they gave John Kerry and Teresa Heinz Kerry, they probably thought it best to keep Cindy McCain's income underwraps. I hope they get swiftboated to the Hanoi Hilton.

[Caleb]

I'm sure a lot of Obama and Clinton supporters (I'm a Clinton supporter, but soon to be McCain supporter when she loses) are going to raise a big stink over this, but it honestly doesn't make a bit of difference to me that he doesn't release his wife's tax returns. Out of all 3 of the candidates McCain is by far the most trustworthy and I think it would be a tough argument to make that there is something hidden in his wifes tax returns.

[Drew Warwick]

Senator McCain doesn't receive an Air Force pension because he never was in the Air Force... He served in the Navy.

[J Smith]

I don't think McCain receives an Air Force pension given that he served in the Navy...

[ts]

If viewing the tax returns of a candidate is a valid way to understand how money coming to him or her from different places might influence that candidate, then it is certainly valid to look at the tax returns of that candidate's spouse.
~
How do we know where the McCains' finanical interests lie? How do we know what special interests Mrs. McCain might be making millions off of? We don't, unless she releases her tax returns.
~
To say that a man won't be swayed in his actions by the financial interests of his wife is ridiculous. In fact, his wife's income is a double temptation: he will be tempted by the prospect of sharing in the benefits of that wealth, and he will be tempted to make his wife happy by seeing her interests pursued, independent of any direct financial benefit to himself. We as voters have a right to know what influences will affect a man we are being asked to vote for for President. Otherwise, Mr. McCain should stay in his present job.

[Bob Loblaw]

I bet you meant Navy pension, not Air Force.

[Bob]

John McCain went to the Naval Academy and was a naval aviator, I doubt be gets an Airforce pension. What else is inaccurate in the blog?

[John Bennett]

I thought McCain was in the US Navy

[KirLiz]

To protect her children? What does that even mean?

[Matt Aggleton]

Senator McCain should be ashamed of taking $23,000 in social security money. Even if it wouldn't make a dent in the finances of social security, McCain should never have accepted this money when he already has other income over $400,000. As a symbolic gesture to help the elderly of this country, not to mention the future of today's youth, the senator should have publicly returned his social security check un-cashed to demonstrate that he's willing to help the country in every way possible, big and small. Could we possibly expect less from a presidential candidate?

[Bill]

Oh gawd, here we go again...this is like shooting yourself in the foot on purpose. Wifey needs to open up the tax returns and get used to the idea that a president's wife (if he is elected) is under the microscope just as much as he is. This is the first genuine mistake of the McCain campaign and will haunt him for the next 7 months.

[vanno]

In light of now understanding the privacy I've lost to the IRS and the federal government when I could have my privacy intact with the Fairtax, I now find it simply unreal that the gov't can plunder, unimpeded, into every citizen's life without consequence, or apparently, public outrage. We've been so brainwashed the past 95 years (1913 fed income tax amendment) we simply expect it...horrible.

[Dave]

soooo....wow. He's a politician and acts just like one. Does anyone expect differently? No one seems to mention the Social Security bit. Sure, you pay into it, you deserve to take out. But isn't there some ethical responsibility from people who have money (and remember - he's got a boatload more than his individual tax return shows) to not collect Social Security considering that the system is slowly going under? Does he really need that money?

[TNT]

The amazing thing is he paid $3500 to have his taxes prepared.... He should have used my people. :-)

[Ed Woodward]

The guy managed to "marry up." Good for him. Too bad for the others.