No tax transparency from Cindy McCain

If John McCain wins in November, don't expect to ever see his wife's tax returns.

"You know, my husband and I have been married 28 years and we have filed separate tax returns for 28 years. This is a privacy issue. My husband is the candidate," Cindy McCain said in an NBC Today show interview aired Thursday (video here; transcript here).

As blogged about here, the Arizona senator released his married filing separately tax return last month. His wife's return was not made public.

She's heiress to a Phoenix-based beer distributing company with a reported fortune in the $100 million range. Thanks to a prenuptial agreement, much of the family's assets are solely in Mrs. McCain's name.

Political scolding: As expected, much is being made by political opponents about Mrs. McCain's decision to keep her tax data to herself.

Democratic National Committee Chairman Howard Dean said Cindy McCain's refusal to release her tax returns gives the appearance of a double standard on the part of her husband.

"What is John McCain trying to hide?" asked Dean in a statement. "Throughout this campaign, he has acted like his own calls for openness and accountability apply to everyone but himself. Now he thinks he can bring that same double standard to the White House."

In response, Republican National Committee spokesman Danny Diaz said, "Howard Dean continues to lower the bar in this election."

Who really cares? Aside from satisfying our society's current celebrity/tabloid thirst for tell-all personal details, what purpose does release of tax returns really serve?

The whole process is voluntary and the details revealed range from bare bones (see Dick and Lynne Cheney) to TMI (35 pages from the Obamas; they're obviously new to this!).

I don't really care what any candidate or sitting lawmaker at any governmental level makes as long as he or she reports it all to the IRS and/or applicable state tax collectors.

If the feds or their state/local cousins are investigating a candidate for suspected tax evasion (see Al Franken), that's when I want to know all the dirty allegedly law-breaking details.

Otherwise, the only return I'm going to worry about is my own.

Comments

[mapgirl]

Well considering he lied about his age and made himself 4 yrs younger, and she lied about her age to make herself 4 years older, I think it still doesn't matter if she reveals her finances or not.

Considering that she comes from her own wealth that is under a prenup agreement, it's probably in her best interest to keep her finances to herself. I would if I were her. She knew he was a politician when they got together. In the end, if things go south, there is probably protection for her in the separate filing.