April 19, 2008
GOOSE MEETS GANDER....I forgot to mention this yesterday, but John McCain finally released his income tax returns on Friday. But with a tiny, um, caveat:
Senator John McCain released his 2006 and 2007 income tax returns on Friday, showing his total taxable income was $474,104 but disclosing little of his wife's sizable wealth.
....Mrs. McCain, who has a significant stake in a beer distributorship in Phoenix that her late father helped found, is far wealthier than her husband. The company is valued at $100 million or more, published estimates say.
Now, one of the most popular parlor games in the liberal blogosphere is "Can you imagine if a Democrat did this?" Most of the time, it's kind of tiresome, but this is actually a great test case, almost one of those "natural experiments" that economists are so enthused about these days. Here's the rest of the story:
In the 2004 campaign, Teresa Heinz Kerry, wife of Senator John Kerry of Massachusetts, at first said she would not release her personal income tax returns, also citing family privacy. After a torrent of criticism, Mrs. Heinz Kerry released part of her taxes that showed her to be wealthiest spouse of any presidential candidate in American history.
In other words, we don't have to imagine what would happen if a Democrat did this. We know. It would unleash a "torrent of criticism," eventually leading to at least a partial disclosure of the spousal taxes.
This time around, McCain chose not to release his wife's income tax returns even though he already knew what had happened to John Kerry when he did the same thing four years ago. Apparently he decided the media wasn't likely to make too big a deal of it in his case. Let's see if he's right.
—Kevin Drum 12:12 PM
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Same thing happened to Ferraro in 1984. Time to dig up what the Republicans said in both 1984 and 2004.
Posted by: Brian Schmidt on April 19, 2008 at 12:19 PM | PERMALINK
They hypocracy knows no end here - what if the US automakers were all going bankrupt under a democratic administration?
We could go on and on - MSM is wholly owned by the economic interest that fraudulently hoisted and AWOL alcoholic/cocaine addict on this nation as a "war president."
They stole 2 elections and the MSM didn't say anything - this is really small potatoes when you think of the other crimes MSM has been complicit with.
When are the self-proclaimed "liberal" and "progressive" superblogs going to actually stand for something and ask for action - boycott disney and the corporations that control and dominate the media?
(crickets chirping)
Posted by: on April 19, 2008 at 12:26 PM | PERMALINK
C,mon, McCain could sodomize a goat at a county fair campaign stop and get a pass. Democrats are facing a daunting challenge when it comes to equal media treatment during the general. Obama or Hillary would have to personally find a cure for cancer to steal positive press spin away from McCain.
Posted by: steve duncan on April 19, 2008 at 12:32 PM | PERMALINK
C,mon, McCain could sodomize a goat at a county fair campaign stop and get a pass.
Pass? Hell, it would probably be a plus. Shows he's in touch with the "common man."
Posted by: lobbygow on April 19, 2008 at 12:35 PM | PERMALINK
steve - yup, you are right.
So what's with this "101 Keyboarder Brigade" stuff, all bloggin' and no action?
Is it more fun to play "gotcha" with the dishonest media day after day?
Posted by: on April 19, 2008 at 12:37 PM | PERMALINK
OF COURSE he's right! Our bloody MSM is too busy making sure Obama is propped up so he gets the nomination to even watch what McCain is or isn't doing! The time and attention they spend on recycling Hillary slime stories and avoiding any mention of a chink in Obama's ability to answer an unscripted question might better be served by digging into McCain and providing meaningful facts and information on him...I won't hold my breath..
Posted by: Dancer on April 19, 2008 at 12:37 PM | PERMALINK
My guess is he has no qualms about wind surfing either.
Posted by: asdf on April 19, 2008 at 12:40 PM | PERMALINK
C,mon, McCain could sodomize a goat at a county fair campaign stop and get a pass.
Hell, chimpy had a homosexual male prostitute with fake press credentials tossin' him softballs at conferences and staying overnight at the WH numerous times - not sodomizing goats, sodomizing the CHIMP!
And this got a pass...
GO 101st KEYBOARDERS!
TELL US ABOUT YOUR OUTRAGE!
And then go to Office Max and empty your wallets to the corporations that make this all possible.
Posted by: on April 19, 2008 at 12:40 PM | PERMALINK
here's one: Donald Luskin in NRO in July 2004:
"Voters of both parties should demand immediate and full disclosure of Teresa Heinz Kerry's holdings and tax returns."
www.nationalreview.com/nrof_luskin/luskin200407140830.asp
Posted by: Buzzerk on April 19, 2008 at 12:41 PM | PERMALINK
It is a neat parlor game
But only if you use it for all issues
Posted by: bluesmoke on April 19, 2008 at 12:42 PM | PERMALINK
NRO couldn't shut up about it...
Google this:
Teresa Heinz Kerry site:nationalreview.com tax
151 hits.
Posted by: Buzzerk on April 19, 2008 at 12:48 PM | PERMALINK
McCain has macaca moments twice a week and the press ignores them. Two to one, hell three to one, Mrs. McCain won't be forced to release her tax records.
Posted by: jen flowers on April 19, 2008 at 1:12 PM | PERMALINK
You are being so UNFAIR. Theresa Heinz Kerry is a tough broad who talks; Cindy is a silent delicate flower who needs protection or she will go back on drugs.
Also Theresa got her money by marriage (despicable) whereas Cindy inherited hers. We can not hold her accountable for having a lot of money since it happened to her when she was an innocent babe.
Posted by: on April 19, 2008 at 1:21 PM | PERMALINK
You are being so UNFAIR. Theresa Heinz Kerry is a tough broad who talks; Cindy is a silent delicate flower who needs protection or she will go back on drugs.
Also Theresa got her money by marriage (despicable) whereas Cindy inherited hers. We can not hold her accountable for having a lot of money since it happened to her when she was an innocent babe.
Posted by: bostonian in Brooklyn on April 19, 2008 at 1:21 PM | PERMALINK
Let's see if he's right.
McCain is ALWAYS right in the media's eyes.
Posted by: afferent input on April 19, 2008 at 1:25 PM | PERMALINK
"even though he already knew what had happened to John Kerry when he did the same thing four years ago. "
That's silly. McCain can't even remember who we're fighting in Iraq. You honestly think that McCain can remember that incident from four years ago? It's a good day when McCain can remember what day it is.
Posted by: fostert on April 19, 2008 at 1:39 PM | PERMALINK
*
Posted by: mhr on April 19, 2008 at 1:56 PM | PERMALINK
By the time November rolls around it's highly possible that an "event" will have occurred, causing the American voters to run screaming to daddy McCain to save them from......
The thought of tax returns will be a distant memory.
Trust me... the Greedy ol Party will do ANYTHING to keep the whitehouse.
Get ready for the FEAR FACTOR.
Posted by: Tom Nicholson on April 19, 2008 at 2:09 PM | PERMALINK
John McCain
The Candidate That Beer Built.
Posted by: Cal Gal on April 19, 2008 at 2:41 PM | PERMALINK
The media are Republican. Stop being surprised by the obvious.
Look, it doesn't matter. McCain will be dragged down by the millstone that is the Bush incumbency. Obama will be mercilessly attacked, but he'll win anyway.
Once he's in, it'll be time to use the powers of the executive to take down the GOP noise machine - reinstitute the Fairness Doctrine, implement enforced a la carte cable pricing, and use regulatory power to break up media ownership monopolies. As a strike against Disney/ABC, restore the older copyright rules so that Mickey Mouse etc. goes into the public domain (that'd cost the Disney empire billions in equity).
In other words, be ruthless and teach media owners what happens when they go to war against us.
Posted by: jimBOB on April 19, 2008 at 2:47 PM | PERMALINK
The reasons for this difference are:
- McCain is know to be an honest man whereas Kerry is a lying sleazeball
- Dems are forever demagoguing "the rich" whereas Republicans are less prone to this.
There, now that wasn't so hard to understand, was it?
Posted by: am on April 19, 2008 at 2:59 PM | PERMALINK
Beyond the unanswerables -- will the press or won't they, will McC or won't he -- lies the question: why the secrecy? It's already clear from public domain records (including disclosures required of McC as a Senator) that she has a high annual income and is quite rich. Two homes -- combined value $7+ mil -- bought with cash in a three-year period, a private jet, $250+K paid yearly to servants . . . on and on it goes, and of course he doesn't make that kind of money.
So what's the secret? My guess: an embarrassingly low percentage of her income goes to taxes.
Posted by: penalcolony on April 19, 2008 at 3:24 PM | PERMALINK
I didn't know space aliens had to file tax returns.
Posted by: jimbo on April 19, 2008 at 3:32 PM | PERMALINK
We can't give out any information that might aid the terrorists. You liberals already help the enemy enough as it is.
Posted by: GOPer on April 19, 2008 at 3:43 PM | PERMALINK
In another column, the Tribune-Review mocked John Kerry as "Mr. Teresa Heinz."
Ooo good. We can call John Sydney McCain..."Mr Cindy Hensley" since she basically funds his lifestyle.
Posted by: Jet on April 19, 2008 at 3:51 PM | PERMALINK
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Posted by: Boorring on April 19, 2008 at 3:53 PM | PERMALINK
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Posted by: Boorring on April 19, 2008 at 3:53 PM | PERMALINK
GOPer, you read much?
n testimony before the Senate Armed Services Committee on April 10, 2008, Secretary of Defense Robert Gates made the following jaw-dropping statement:
“We were attacked from Afghanistan in 2001, and we are at war in Afghanistan today, in no small measure because of mistakes this government made--mistakes I among others made in the end game of the anti-Soviet war there some 20 years ago.”
Secretary of Defense, Robert Gates
Posted by: Jet on April 19, 2008 at 3:57 PM | PERMALINK
The reasons for this difference are:
- McCain is know to be an honest man whereas Kerry is a lying sleazeball
- Dems are forever demagoguing "the rich" whereas Republicans are less prone to this.
There, now that wasn't so hard to understand, was it? -am
Actually it reeks of hypocrisy and while you might embrace hypocrisy it does not rationalize it. And as pundit history shows , along with the adulterer Scaife, demagogued the wealthy [Teresa Heinz-Kerry] for being wealthy.
Posted by: Jet on April 19, 2008 at 4:06 PM | PERMALINK
the Tribune-Review's attacks came in December, 2003, when it ran a piece accusing Heinz-Kerry of secretly "funneling cash" from her Heinz Endowment to the Tides Foundation, a group that [supposedly] "supports extreme left wing groups. The piece was based on research conducted by the right-wing think tank Capital Research Center, yet failed to mention that [GOOPer]Scaife granted the center $240,000 in 2002.
Heh.
Posted by: Jet on April 19, 2008 at 4:08 PM | PERMALINK
Larry Kudlow bodyslams OBama good:
http://www.realclearpolitics.com/articles/2008/04/why_not_blame_obama.html
Posted by: FreedomLover on April 19, 2008 at 4:59 PM | PERMALINK
Wow, Kudlow has quite a talent for both misrepresentation as well as outright blunders.
1. ...almost half of all tax returns reporting capital gains came from households with incomes under $50,000, ...
That's a dandy statistic, but it begs the question: What percentage of capital gains are captured by people with incomes under $50K? Lumping everyone with a money market savings account or a couple of CDs in with those who have hefty investment portfolios doesn't really give you an accurate picture of the 'investor class.'
2. Then, this is just plain incorrect: The cap on wages subject to the payroll tax is presently $102,000. By eliminating that cap Obama will be soaking veteran firemen, cops, teachers, and health-service workers, along with a variety of other occupations.
In fact, in America's largest cities, a firefighter married to a school teacher can earn close to $200,000 filing jointly.
SS and Medicare taxes are individually capped. Ergo, the bottom line on a joint return has nothing to do with it. Also, median household income in the US is a little under $62K. NYC is actually less than that. Even in high-cost/high-wage areas, e.g.: Northern CA, medians tend not to exceed $80K-$90K. So, Kudlow's hypothetical hard hit workin' folks are earning at least 200% of the median no matter how you cut it.
Posted by: Joe Bob on April 19, 2008 at 8:33 PM | PERMALINK
I'm late to comment here, but I just gotta say -- I actually heard several reports on various national newscasts that pointed out that McCain had finally released his tax returns. They said he was known as one of the richest men in the Senate, yet he had declared only something over $200K in income last year. They reported that he did not declare his wife's earnings due to privacy issues for her children.
My point is that they did report that McCain released the information, and, although they didn't trash him, they said it in such a way that I think people not in the know would ask, "Is that fair?"
Of course, had it been a Democrat...
Posted by: pol on April 20, 2008 at 2:09 AM | PERMALINK
A candidate funded by beer money? Shouldn't the religious right be more than a tad upset about this?
Posted by: Zak44 on April 20, 2008 at 12:22 PM | PERMALINK
Mrs. Kerry vs. Mrs. McCain:
1. KEATING FIVE. John Kerry was never accused of misusing his Senate seat to help Mrs. Kerry's finances.
In marked contrast, Mrs. McCain was intimately involved in the Keating 5 scandal, in which her husband misused his Senate seat to help Keating. Not only did they vacation at his place with the kids and take free rides on his planes as a family, but she invested with him, a fact that John McCain famously tried to stonewall the press on by screaming obscenities at Arizona reporters: (Arizona Republic, March 1, 2007)
"You're a liar," McCain said when a Republic reporter asked him about the business relationship between his wife and Keating.
"That's the spouse's involvement, you idiot," McCain said later in the same conversation. "You do understand English, don't you?"
He also belittled reporters when they asked about his wife's ties to Keating. "It's up to you to find that out, kids."
In addition, a Feb 28 article in the Boston Globe says one regulator at the heart of the scandal "believes McCain intervened partly because his wife had invested money with Lincoln chairman Charles Keating, a campaign contributor who let the McCains use his home in the Bahamas."
2. Mrs. McCain has a history of misusing her private organizations to engage in criminal acts--her embezzlement of drugs from her charity, something she went into diversion of drug treatment but never served jail time for. Mrs. Kerry had no similar record.
3. Mrs. Kerry released more information on her taxes (a two-page summary) than Mrs. McCain has.
4. Mrs. Kerry said she did not want to release more information because it concerned the finances of her her three grown children form a former marriage, who had no relationship to Sen. Kerry (and one of whom is very private and has not had any involvement in politics). Mrs. McCain, on the other hand, is claiming to protect the privacy of her and McCain's children together. This is like Bill Clinton filing separately from Hillary and claiming his finances are private because of Chelsea's privacy.
5. Mrs. Kerry's more legitimate position was utterly SAVAGED by right-wing and regular media. The NYT wrote an op-ed demanding she release her returns, as they had done for Mr. Ferraro decades earlier. The Weekly Standard published an op-ed called "Sugar Mommy: Why won't Teresa Heinz Kerry release her tax records?" Where they suggest part of the reason is "one thing the returns would show...is the extent to which John Kerry is a 'kept man'." Bob Novak wrote articles on it and wondered "what's she hiding?" on TV. The NYT had headlines like "Privacy of Wife's Fortune Casts a Shadow Over Kerry."
Posted by: anonymiss on April 20, 2008 at 3:48 PM | PERMALINK
The failure of McCain to provide his wife's income tax return is especially important because of McCain's involvement in the Keating mess. Keating and Ms. McCain were partners (something that he does not mention as he dismisses his involvement as the "perception" of impropriety whilst going to bat for a constituent). "On Oct. 8, 1989, The Republic revealed that McCain's wife and her father had invested $359,100 in a Keating shopping center in April 1986, a year before McCain met with the regulators." http://three-cents.blogspot.com/2008/02/john-mccain-charles-keating-and-23.html
Posted by: Michael Goldstein on April 20, 2008 at 10:28 PM | PERMALINK
The failure of McCain to provide his wife's income tax return is especially important because of McCain's involvement in the Keating mess. Keating and Ms. McCain were partners (something that he does not mention as he dismisses his involvement as the "perception" of impropriety whilst going to bat for a constituent). "On Oct. 8, 1989, The Republic revealed that McCain's wife and her father had invested $359,100 in a Keating shopping center in April 1986, a year before McCain met with the regulators." http://three-cents.blogspot.com/2008/02/john-mccain-charles-keating-and-23.html
Posted by: Michael Goldstein on April 20, 2008 at 10:28 PM | PERMALINK
Liberals and Democrats always make the same mistake on stories like this. The reason Theresa Heinz Kerry was forced to release her returns but Cindy McCain probably won't be has nothing to do with press bias towards Republicans. Rather it has to do with the relentlessness with which Republicans keep these kinds of controversies alive. Republicans are just better at summoning the great heaps of faux-outrage needed to keep Democrats on the defensive over trivial non-issues. Believe me, if Democrats were even half as relentless, Cindy McCain would have released her returns long ago.
Obama was able to keep the pressure on Hillary clinton to release her returns. My guess is that Cindy McCain will eventually release hers as well.
Posted by: BradtheDad on April 22, 2008 at 12:06 AM | PERMALINK