Cindy McCain's tax returns: Why the hell is her tax rate lower than

[pdxmom]

mine??? This is exactly what Obama was talking about when he said "spread the wealth". He was actually talking dollars/cents, he was talking about how tax cuts are distributed. I want my tax rate lower. Cindy McCain can afford a higher tax rate. I could use a lower one. Bush's tax cuts netted me a grand total of $11/year. How much did it net the McCain's?

"Mrs. McCain, who files her taxes separately from her husband, paid $1.1 million in taxes, a tax rate of about 26 percent. She reported nearly $530,000 in itemized deductions."

http://www.huffingtonpost.com/2008/10/17/cindy-mccain-2007-income_n_135748.html

[Warren Stupidity]

1. Cindy is actually paying in at 3-4% percent this year.

She overpaid her 2007 taxes by 950,000 - which is what brought her effective rate up to 26%. She is amending her return to get back the 950K, which will bring her rate down to somewhere between 3-4%.

The poor rich are impoverished by all this socialistic spread the wealth nonsense.

[TACstrat]

2. It's worse than what you posted ...

Read the article near the end ...

"Perhaps anticipating higher income, she overpaid her taxes over the year by more than $950,000. She applied that amount to her 2008 estimated tax."

She only owed $150,000 in taxes ($1.1M - $950,000) which is a tax rate of only 3.75%. She overpaid so that it looked like she paid 26%.