CURRENT CANDIDATES: Presidential Disclosures
Presidential, vice presidential and congressional candidates must all file ethics reports outlining their assets and liabilities such things as sources of income, real estate held for investment purposes, stocks and debt.
John McCain
According to a New York Times article dated June 14, 2008, John McCain and his wife, Cindy, disclosed earlier this year that they owed more than $200,000 and possibly more than $300,000 on credit cards.
The McCains have reported total household assets in the past ranging between $24.6 million and $39.5 million.
Cindy McCain has substantial holdings in property and stocks—including shares in Anheuser-Busch as well as various land holdings.
In a recently released summary version of her 2006 tax return, Cindy McCain reported income that year of more than $6 million, some $300,000 of which was derived from her salary as the chairwoman of Hensley, which was founded by her father.
John McCain also reported income from book royalties and signings of $176,488, which was donated to charity. As a retired Navy officer, Mr. McCain receives an annual pension of $58,358.
Barack Obama
In addition to his Senate salary of $165,200 last year, Barack Obama reported book royalties of more than $4 million in 2007.
In May, Obama and his wife, Michelle, put at least $1 million into a money market fund. In July they invested $100,000 to $250,000 into college savings accounts for each of their two daughters, who are in elementary school.
Michelle Obama’s 2006 tax return indicated income of $273,618 from the University of Chicago Hospitals as well as at least $1,000 for work done for Treehouse Foods, where she was a salaried board member. She relinquished her position at that company, a major supplier to Wal-Mart, in May 2007, due to Wal-Mart’s labor practices.
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