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Savoring the fruits of the KFC dumpster.
Just a reminder that destitute veteran and FORMER PRISONER OF WAR John McCain isn’t using that spare change he panhandles on the traffic median to buy beer (which he gets from his wife for free anyway in lieu of an allowance):
The charitable contributions of Barack Obama and Hillary Clinton have received a fair amount of press scrutiny. The same is not true of John McCain, which is somewhat surprising since he is essentially the sole donor to the John and Cindy McCain Foundation, and his wife is its chairman and president.
Between 2001 and 2006, McCain contributed roughly $950,000 to the foundation. That accounted for all of its listed income other than for $100 that came from an anonymous donor. During that same period, the McCain foundation made contributions of roughly $1.6 million. More than $500,000 went to his kids’ private schools, most of which was donated when his children were attending those institutions. So McCain apparently received major tax deductions for supporting elite schools attended by his children. [...]
McCain has four children with Cindy, all of whom attended prep schools in Arizona. Meghan McCain, McCain’s eldest child from his current marriage, went to Xavier College Preparatory. McCain’s foundation has given about $50,000 to the school, mostly during Meghan’s years there. Donations to Xavier have dropped off since Meghan graduated (in 2003 or 2004) and went on to Columbia University. For 2006, the foundation cut Xavier a check for just $250.
McCain has two sons, Jim, who is now a private in the Marines, and Jack, who is attending the Naval Academy in Annapolis. Both previously attended Brophy College Prep in Phoenix, which received at least $267,000 from the senator’s foundation during the years that his sons were there.
The McCain foundation also donated money–roughly $128,000–to Christ Lutheran School, which the McCain’s 15-year-old adopted daughter, Bridget, and their son Jim both attended. In 2001, the foundation also donated $41,667 to the Phoenix Country Day School, another elite prep school where both Meghan and Jack had been students.
Collectively, McCain’s kids’ private schools rank as the largest recipient of his foundation’s money.
As noted above, John McCain is "the sole donor to the John and Cindy McCain Foundation, and his wife is its chairman and president.". Since John’s foundation is taking care of the education of rich preppy kids whose names end in "McCain", Cindy founded a disaster relief non-profit that dispensed medical care to poor people around the world. That’s the one she was stealing drugs from until one of the employees totally narced her out and she had to fire his ratfink ass.
All of this just goes to prove that you can’t help anyone until you’ve helped yourself…
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This looks an awful lot like a tax scam.
John: Cindy said she got rid of the kids for a while, but I didn’t know where they went. How many? Fuck I don’t know.
Shenanigans!!
I guess it’s only “Tax Evasion” if you makes less than, say, $5 million a year. Otherwise, it’s “Creative Deductioning.”
Or something.
My, this does look a bit skeevy.
Or maybe it’s mavericky; I can’t tell anymore.
This article was published last February. And lots of wonderful stuff in Harpers never makes it to the kind of media that “low information” voters see.
Until the local teevee Barbie and Ken newsreaders and the supermarket tabloids start putting it out, it’s only known by geeks like us who actually seek it. If someone could make a really cool video of this story and put it on YouTube, then even my redneck sister might be exposed to it.
Moreso when you combine it with items like this:
I don’t think Cindy’s finances would withstand scrutiny any better than Tony Rezko’s.
Good way to buy grades. He might have learned that from Poppy Bush.
Now that would make an excellent commercial… John McCain believes that charity begins at home. That’s why he and Cindy (or is that Cunty) donated $$$$$ to …. and …
Unfortunately John McCain is my Senator and he was also my Rep when he was in the house. I happen to know that in AZ, you get a dollar for dollar tax deduction for money you donate to schools. I imagine there is a max limit on the amount but I don’t think its right – to me it’s legalized tax cheating.
Republican family vales in action. If it helps grease the skids and gets their kids graduated…bonus! Otherwise, it’s a bribe with a tax deduction.
But for Federal tax deductions, you cannot get a quid pro quo benefit for a “charitable” deduction – I usually have a question on my final basic income tax exam that looks remarkably similar to these facts, but dealing with individuals taking Federal deductions, and the answer is always that the deduction should be disallowed. This is a foundation, however, making disbursements, but nonetheless, those disbursements clearly seem to violate the self-dealing rules applicable under the Internal Revenue Code.