by Frank James
A few thoughts after looking at Sarah and Todd Palin's recent tax returns.
Their adjusted gross income of $166,080 for tax-year 2007 makes them better off than most Americans but that also puts them no higher than in the middle class even by Sen. Barack Obama's definition which appears to set the ceiling for middle class at around $250,000 per couple.
By Washington standards, it's not a lot of money. There are journalists in this town who make more than the governor's $125,000 salary. True, fewer with all the layoffs and buyouts in journalism but still a fair number.
The vice president's salary, $221,000, would definitely represent a significant boost to the Palin family's income. There's the free housing too. (Assuming she'd move here and not try and do the job from little ole Wasilla.)
What a contrast with Vice President Cheney's family which saw its multi-million dollar income fall dramatically when he became vice president.
Which leads to the next point. When was the last time a Republican vice presidential nominee had income that didn't place them in the wealthy category of American if not the super wealthy? You'd probably have to go pretty far back to find one.
I'm guessing, however, that going forward, the numbers on the Palin's future tax returns will get much larger. There's certainly a big book contract in her future.
And if she doesn't become vice president, she may be able to bank speaking fees which appear to be permitted to the governor and other Alaska officials under the state's statutes.
So chances are good that whatever happens on Election Day, the Palins will find themselves in a higher tax bracket next year.
A last point. It's worth noting that that three of the four women associated with the two presidential tickets earn more than their husbands, Palin; Cindy McCain, the beer heiress, and Michelle Obama (that's if you don't count her husband's income from his two best-selling books.) Jill Biden, a teacher, is the only one who doesn't.
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Comments
And Joe doesn't seem to donate much to charity. http://www.bop-o-ram.com
Oh, under Obama, we should just all try to remain middle class and vote for him.
McCain/Palin '08
Posted by: Charity starts at home! | October 4, 2008 6:18 PM
Her tax returns are probably as fake as she is...If they are going to try and say she is just like all the middle calss people I THINK NOT.What was she doing in the debate?? A big flip-flop regarding gay rights.She talks so much you would think her mouth is two sided..This person is SCARY!!!.When will the media get to vet her with real people in Alaska unstead of props put up by the McSame camp?..
Posted by: Randollph | October 4, 2008 6:48 PM
you don't need a lot of money when you feast on moose and fantasy.
Posted by: bill r. | October 4, 2008 7:52 PM
http://tinyurl.com/4fe8a6
Here's another wink for ya Sarah. You being such a lover of God's creatures and all.
Posted by: carolo | October 4, 2008 8:15 PM
$17,000 in per diem not listed as income on her federal tax return (feds say it's income even if state says it's not for state tax purposes).
$45,000 in travel reimbursements for her family members not listed as income on federal tax return.
Asked to comment, Palin replied, "I'm a maverick, Charlie, and I just may not pay the taxes you're expecting me to pay! Okay, then (wink). Golly!"
Posted by: Paris Sailin | October 4, 2008 9:31 PM
I would presume someone in that position knows every conceivable write off in the book, something most of us strive for. Why should they be condemned for doing what we do, best? beyond that, I would be more concerned with the suggestion that Obamas ceiling for the middle class is at 250k, because if this is true, than surely the tens of millions of us in this country are living in poverty with annual income under 1/4 of that. That scares me a whole lot more than someone that, just like us, writes off everything they possibly can.
Posted by: paul king | October 4, 2008 11:19 PM
SARAH PALIN - Tax Cheat, Tax Cheat, Tax Cheat, Tax Cheat, Tax Cheat!
Look at Todd's business - 68k gross and netted only 5k?
Hmm no wonder they can afford a half million dollar home and 17 snowmobiles(in the last 20yrs) and a personal plane.
Posted by: Not Voting Republican this year | October 4, 2008 11:47 PM
I am sure as most politicians she has many hidden incomes. Alaska pays for her travel, including her family,which once again goes back to the tax payers not her or the others that are in office. Check out the incomes/pay rate of our senators and represenatives. We do pay those salaries and benefits! Do you have the same? Can you hide income without the chance of being causght? She has more income than we know and will always know all of the loop holes like the rest of them. It is just a fact here in the great Country of America!!
Posted by: Hollis | October 5, 2008 12:54 AM
I am sure as most politicians she has many hidden incomes. Alaska pays for her travel, including her family,which once again goes back to the tax payers not her or the others that are in office. Check out the incomes/pay rate of our senators and represenatives. We do pay those salaries and benefits! Do you have the same? Can you hide income without the chance of being causght? She has more income than we know and will always know all of the loop holes like the rest of them. It is just a fact here in the great Country of America!!
Posted by: Hollis | October 5, 2008 12:54 AM
Palin's household income is more than twice the national median of $52,000. In fact, her household earns more than about 90% of all US households. It's hard to argue that you are middle class when you make more than 90% of those in the population. Furthermore, her family reports holdings worth 103 million dollars. "Joe 6-pack" will never see that level of financial stability.
Posted by: blb | October 5, 2008 2:43 AM
Barack Obama and Bill Ayers are neighbors and collegial coleagues in the University of Illinios. As community organizer, Obama was represented th Annenburg Project which is funded by Bill Ayers. One of the source Obama funding to his run for the Illinois Senate came from Bill Ayers. Reciprocating, Obama sponsored government funding as the State for the Annenburg Project.
Posted by: Guy | October 5, 2008 11:35 AM
Guy - Sarah Palin pals around with (is married to) an Alaskan separatist whose leader says "you can't even imagine the hate I have for the United States of America"
She goes to a church and has a Kenyan minister lay hands on her and prays to protect her from witchcraft.
And she says Obama pals with terrorists because he and Ayers served on a Board of Directors.
Show me the pictures of Obama "pallin' around with terrorist Ayers."
Then I'll show you the pictures of Sarah Palin married to an unpatriotic Alaskan separatist.
Does anyone know if the Palins filed US Income Tax returns every year? I note she only tendered the last two years worth - both peppered with unlisted income (for per diems and travel expenses for her family).
BTW - it's the economy, stupid!
Posted by: Paris Sailin | October 5, 2008 1:16 PM
To clarify an earlier typo. Palin reported holdings worth 1 -3 million dollars - not 103 million. Still, far beyond what most will attain - certainly well beyond most 40-somethings.
blb
Posted by: blb | October 5, 2008 1:55 PM
She hasn't even paid her taxs, she thinks she's above the law and owes taxes on her PER DIEM that she collected from taxpayers.......She's a LIAR and a THIEF
Posted by: tr | October 5, 2008 3:51 PM
$166,000 seems way above what people on my Main Street make. And I must admit that she seems like someone who would cheat on her taxes. She couldn't give a straight answer at the debates.
Posted by: joetarcy | October 6, 2008 12:21 AM
Think smart we have a lier.
NO MORE. SARAH PALIN!!
Time for change.
Posted by: matt | October 13, 2008 8:56 AM
How about those Biden charitable donations? An average of $369 per year over the last ten years. Of course, his 2007 contribution increase to $995. By the way, that's the year he entered the Presidential race. For someone who claims to a champion of the working class, he seems to be a little behind in his support of charities.. Maybe he should stop talking about his unwavering support, and open up his wallet. All talk, no action.
Posted by: Steve Pickering | October 17, 2008 7:32 PM