Mccain Family Gathering on Tarmac at Phonex Airport
John McCain's family owns at least 8 backdrop — not the seven Democrats are alleging or the iv McCain'south staff identified — co-ordinate to a Pol analysis of belongings and tax records, equally well as interviews.
McCain family owns 8 backdrop
John McCain's family owns at to the lowest degree viii backdrop — non the vii Democrats are alleging or the four McCain's staff identified — co-ordinate to a Politico analysis of holding and tax records, as well every bit interviews.
The presumptive Republican nominee, though, may have some jerk room in explaining why he couldn't immediately provide an reply when asked by Politico how many houses he and his married woman, Cindy, ain. Sen. McCain himself does not own any of the properties. They're all owned by Cindy McCain, her dependent children and the trusts and companies they control.
Brian Rogers, a McCain spokesman, did not question Politico'due south analysis, but said his boss'due south bungling of the how-many-homes question is a nonissue.
"Voters care a lot more than about candidates' personal ethics than nearly how many houses or residences or doghouses that John and Cindy McCain ain," he said. He questioned efforts by McCain'due south Democratic rival, Barack Obama, to exploit the issue, given that Obama benefited from a 2005 land deal with the wife of convicted Chicago man of affairs — and former Obama fundraiser — Tony Rezko that expanded the Obama family's newly purchased $1.65 million homestead.
"The reality is that Barack Obama purchased his 1000000-dollar mansion in a shady deal involving a convicted felon, and it raises questions nigh his ethics and judgment," said Rogers.
Politico's analysis of the McCain records found that five of the eight backdrop were purchased between the summer of 2004 and this February, for a total of $11 meg. And the assay found that the McCains hired additional household help in 2007.
The five new properties are all condominiums, and they include three in Phoenix — ane of which became the couple's master Phoenix residence later a Cindy McCain family trust in 2006 sold for $3.2 million the house in which they raised their children — and a pair exterior San Diego.
The new properties joined three previously owned past Cindy McCain, her dependent children and their trusts: a scenic ranch outside Sedona, Ariz., where John McCain has entertained staff, prospective running mates and political reporters; a 3-chamber Arlington, Va., condo that's been John McCain's Washington-surface area residence since 1993; a La Jolla, Calif. condo that is abode to Cindy McCain's elderly aunt and on which the trust recently paid nearly $7,000 in dorsum taxes.
The condo that serves every bit the McCain's main Phoenix residence was purchased in 2006 for $iv.7 1000000 by Cindy McCain's trust. It is a 6,600-square foot unit.
Less than ane yr after the McCains caused it, a corporation controlled by Cindy McCain bought some other condo on a lower flooring in the same building for $830,000.
And, in between, the corporation plunked down $700,000 for a 1,900-foursquare-human foot, three-bedchamber loft condo for their then-22-year-quondam daughter, Meghan, who was moving dorsum to Phoenix after graduating from New York's Columbia University. The unit is at present listed for sale at $730,000.
Cindy McCain, through another family unit corporation, spent near $4.7 million in 2004 and 2008 on two condos in an exclusive building in Coronado, Calif., an affluent San Diego suburb noted for its high percentage of armed forces retirees.
In an interview with Cindy McCain in the June consequence of Faddy mag, conducted from the newer Coronado condo, she explained that her husband, a Navy veteran, initially wasn't keen on the idea of a pied-à-terre in Coronado.
"When I bought the kickoff one, my husband, who is not a beach person, said, 'Oh this is such a waste of money; the kids will never go,'" she said in Vogue. "Then information technology got to the point where they used information technology so much I couldn't get in the identify. Then I bought some other one."
A McCain campaign adjutant who did not want to be identified discussing the McCain'southward personal finances, told Politico this summer that — other than the primary Phoenix residence — the new condos were "purchased for investment and are available for personal apply by the McCain family."
The McCains increased their budget for household employees from $184,000 in 2006 to $273,000 in 2007, co-ordinate to John McCain's revenue enhancement returns.
The additional cash supports an "increase in the number of employees," the McCain aide told Pol. The aide did not answer a question about whether the growing staff stemmed from addition of new properties to the family unit'south real estate portfolio.
Source: https://www.politico.com/story/2008/08/mccain-family-owns-8-properties-012700
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