Sunday, June 29, 2008

Richie Rich Cindy McCain Forgets to Pay Her Property Taxes

Newsweek catches Cindy McCain delinquent on her taxes on a La Jolla, California condo. Four years worth of delinquent. The McCains quickly sent out a check for the first three years of the four years of delinquency. Only $6,744 for three years worth of taxes. If that figure seems very low for La Jolla oceanfront property, it's probably because they've owned the property a long time and the pernicious Prop. 13 in California keeps taxes pretty close to what they were when you bought your property. People who bought their property in California in the last 10 years are subsidizing folks like the McCains who've owned their property for a long time.

I guess I will have to update my post about the McCain's lavish wealth, because I missed -- or misidentified -- this property in my prior research. An oceanfront condo in La Jolla, in addition to the $4.7 million condo in Phoenix, the four houses worth $1.8 million on the "ranch" in Hidden Valley, Arizona, the condo in Arlington, Virginia where McCain lives while the Senate is in session. While I listed them as owning two luxury condos worth at least $3 million on the beach in Coronado, California, maybe the "two luxury condos on the beach" included this one in La Jolla as well as the one the McCains use in Coronado. This blogger says the McCains own ten (10) properties. So hard to keep your houses straight when you own so many.

And she's the one who knows how to use the computer. Maybe she's channeling her inner Leona Helmsley, who famously said (before she went to the hoosegow) "Only the little people pay taxes".

I bet some little person at the trust or the accountant's office got fired for embarrassing the campaign.

If the McCains can't keep up with their $300 million fortune, why should we trust them with the federal budget?

Newsweek: Mrs. McCain, San Diego County Would Like a Word

When you're poor, it can be hard to pay the bills. When you're rich, it's hard to keep track of all the bills that need paying. It's a lesson Cindy McCain learned the hard way when NEWSWEEK raised questions about an overdue property-tax bill on a La Jolla, Calif., property owned by a trust that she oversees. Mrs. McCain is a beer heiress with an estimated $100 million fortune and, along with her husband, she owns at least seven properties, including condos in California and Arizona.

San Diego County officials, it turns out, have been sending out tax notices on the La Jolla property, an oceanfront condo, for four years without receiving a response. County records show the bills, which were mailed to a Phoenix address associated with Mrs. McCain's trust, were returned by the post office. According to a McCain campaign aide, who requested anonymity when discussing a private matter, an elderly aunt of Mrs. McCain's lives in the condo, and the bank that manages the trust has not been receiving tax bills on the property. Shortly after NEWSWEEK inquired about the matter, the McCain aide e-mailed a receipt dated Friday, June 27, confirming payment by the trust to San Diego County in the amount of $6,744.42. County officials say the trust still owes an additional $1,742 for this year, an amount that is overdue and will go into default July 1. Told of the outstanding $1,742, the aide said: "The trust has paid all bills shown owing as of today and will pay all other bills due."

1 comment:

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