Palin has plenty in the bank
2008-10-04 16:25
Special Report
President-elect Barack Obama's incoming administration could include Republicans, or even some members of the current Cabinet, a top transition aide says.
Flagstaff, Arizona - Sarah Palin, who regularly tells voters she knows what it is like to struggle to pay the bills, earns nearly $200 000 and has substantial savings, according to records released by the Republican vice presidential hopeful's campaign.
Palin, who took office as governor of Alaska in December 2006, reported a gross household income of $166 495 in her 2007 taxes.
Her financial disclosure report to the office of government ethics showed her income to be $196 531.50 this year and did not list how much her husband earned working in the oilfields or as a commercial fisherman.
The couple's 2007 taxes showed Todd's fishing business brought in about $50 000, more than half of which went to paying expenses.
His snowmachine racing also earned him about $17 000 in 2007 but he spent nearly $10 000 more than that on equipment and other related expenses.
They had a taxable income of $124 921 in 2007.
The couple claimed eight investment funds with a value of between $15 001 and $50 000 dollars and seven others valued at between $1 001 and $15 000 in a financial disclosure report.
Todd Palin also had a retirement fund through work valued at between $50 001 and $100 000 while Sarah Palin's two pensions from her work as the Governor of Alaska and mayor of Wasilla were also valued in that range.
Three vehicles
Their home was valued at between $500 001 and $1m, and they also have a partial interest in two parcels of land and own a fishing leasehold.
Todd Palin claimed three vehicles which were used for business purposes: a 1992 truck, a 1975 Ford and a 2006 Dodge.
Palin, who insists that taxes must be lowered to help stimulate the economy and put more money into the pockets of families, paid $24 738 last year on her family's adjusted gross income of $166 080: a 14.3% tax rate.
For 2006, the Palins paid $11 944 in total taxes on gross income of $127 869, which is a 9.3% tax rate.
The family donated 1.5% of their income to charity in 2007, of which $2 500 was cash and $825 was household goods donated to the Salvation Army.
This was down from the 3.3% of their adjusted gross income donated in 2006, of which $4 250 was cash and $630 was household goods.
- AFP