Sen. John McCain (R-Ariz.) and his wife reported more than $100,000 of credit card liabilities, according to financial disclosure documents released Friday.
The presidential candidate and his wife Cindy reported piling up debt on a charge card between $10,000 and $15,000. His wife’s solo charge card has between $100,000 and $250,000 in debt to American Express.
McCain's wife also has a second American Express charge card listed on the senator's financial disclosure that was carrying $100,000 to $250,000 in debt.
Another charge card with American Express, this one for a “dependent child,” is carrying debt in the range of $15,000 and $50,000.
Cindy McCain reported a wealth of assets, including properties in Arizona and one she sold in La Jolla, Calif. for more than $1 million in profit.
In addition to his Senate salary, McCain received an annual pension from the U.S. Navy that is worth more than $58,000.
Democratic candidate, Sen. Barack Obama (D-Ill.), reported no liabilities in his annual financial disclosures.
Obama reported $4.1 million in book royalties, while McCain reported $176,508, which the Republican said was donated to charity.
In 2005, Obama received an advance of $1.9 million from Random House Inc. for his book The Audacity of Hope. Obama said $200,000 of that advance went to charity.
Obama’s wife, Michelle, reported over $1,000 in income from her work at Tree House Foods and University of Chicago hospitals. The documents did not require her to be more specific about her income. Michelle Obama resigned from Tree House Foods in May 2007 because of its business dealings with Wal-Mart.
Obama reported between $50,001 and $100,000 in pensions from his work as an Illinois state legislator, and reported earning between $15,000 and $50,000 in interest from a money market fund.
Obama reported college savings of $100,000 and $250,000 for each of his two daughters.
In May 2007, Obama invested between $1 million and $5 million in a Northern Municipal money market fund, and divested between $500,000 and $1 million in July 2007 from that account. Obama purchased up to $1 million in U.S. Treasury notes last July.
Sen. Hillary Rodham Clinton (D-N.Y.), who dropped out of the race this month, was granted an extension and does not have to file her documents until June 30.
Fiscal responsibility. McCain is deep in debt, Obama is setting aside money and has no oustanding.
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Sen. John McCain (R-Ariz.) and his wife reported more than $100,000 of credit card liabilities, according to financial disclosure documents released Friday.
The presidential candidate and his wife Cindy reported piling up debt on a charge card between $10,000 and $15,000. His wife’s solo charge card has between $100,000 and $250,000 in debt to American Express.
McCain's wife also has a second American Express charge card listed on the senator's financial disclosure that was carrying $100,000 to $250,000 in debt.
Another charge card with American Express, this one for a “dependent child,” is carrying debt in the range of $15,000 and $50,000.
Cindy McCain reported a wealth of assets, including properties in Arizona and one she sold in La Jolla, Calif. for more than $1 million in profit.
In addition to his Senate salary, McCain received an annual pension from the U.S. Navy that is worth more than $58,000.
Democratic candidate, Sen. Barack Obama (D-Ill.), reported no liabilities in his annual financial disclosures.
Obama reported $4.1 million in book royalties, while McCain reported $176,508, which the Republican said was donated to charity.
In 2005, Obama received an advance of $1.9 million from Random House Inc. for his book The Audacity of Hope. Obama said $200,000 of that advance went to charity.
Obama’s wife, Michelle, reported over $1,000 in income from her work at Tree House Foods and University of Chicago hospitals. The documents did not require her to be more specific about her income. Michelle Obama resigned from Tree House Foods in May 2007 because of its business dealings with Wal-Mart.
Obama reported between $50,001 and $100,000 in pensions from his work as an Illinois state legislator, and reported earning between $15,000 and $50,000 in interest from a money market fund.
Obama reported college savings of $100,000 and $250,000 for each of his two daughters.
In May 2007, Obama invested between $1 million and $5 million in a Northern Municipal money market fund, and divested between $500,000 and $1 million in July 2007 from that account. Obama purchased up to $1 million in U.S. Treasury notes last July.
Sen. Hillary Rodham Clinton (D-N.Y.), who dropped out of the race this month, was granted an extension and does not have to file her documents until June 30.
Fiscal responsibility. McCain is deep in debt, Obama is setting aside money and has no oustanding.
The McCains also have enough money to pay off that debt anytime they feel like it. You're not "deep in debt" if you can wipe it out with pocket change. Besides, I notice the article specifically says the debt is on AMEX charge cards. If they really are charge cards, as opposed to credit cards, then the McCains have to pay off the balance every month.
All this article proves is that the McCains are rich, which isn't exactly news. If that's all their debt, then they're actually far more fiscally responsible than most Americans. This AMEX debt is a miniscule fraction of their assets; compare that to, say, all the people who are upside-down on their mortgages and holding credit cards and car loans on top of it.
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The McCains are obviously filthy rich and can handle those kinds of debts without issue. I do find it interesting that their "dependent child" is running up debts of $15,000 to $50,000 though; it means that they're spoiling the kid early.
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SirNitram wrote:It's not that they can't pay; it's that they run up such debts they can pay off and don't bother.
Um, no: if the debts are all on charge cards, then they have to pay off the balance every month. And anyway, that wasn't your argument: you called McCain "deep in debt", which is not the same as "isn't bothering to pay off a small debt". If I owe a guy fifty cents, I'm not "deep in debt" no matter how long I dither around before paying it back.
Any city gets what it admires, will pay for, and, ultimately, deserves…We want and deserve tin-can architecture in a tinhorn culture. And we will probably be judged not by the monuments we build but by those we have destroyed.--Ada Louise Huxtable, "Farewell to Penn Station", New York Times editorial, 30 October 1963 X-Ray Blues
SirNitram wrote:It's not that they can't pay; it's that they run up such debts they can pay off and don't bother.
Um, no: if the debts are all on charge cards, then they have to pay off the balance every month. And anyway, that wasn't your argument: you called McCain "deep in debt", which is not the same as "isn't bothering to pay off a small debt". If I owe a guy fifty cents, I'm not "deep in debt" no matter how long I dither around before paying it back.
I have an AMEX charge card and while they say you have to pay it off every month, if you don't, they just charge you 30%+ interest.
SirNitram wrote:It's not that they can't pay; it's that they run up such debts they can pay off and don't bother.
Um, no: if the debts are all on charge cards, then they have to pay off the balance every month. And anyway, that wasn't your argument: you called McCain "deep in debt", which is not the same as "isn't bothering to pay off a small debt". If I owe a guy fifty cents, I'm not "deep in debt" no matter how long I dither around before paying it back.
I have an AMEX charge card and while they say you have to pay it off every month, if you don't, they just charge you 30%+ interest.
True, but how difficult do you think it would be for a family worth hundreds of millions of dollars to set up an automatic withdrawal every month?
Incidentally, most of this debt is on Cindy's cards, not his, an important distinction because their finances are separate and have been since they married. Even if she was irresponsibly running up huge debts, it doesn't say anything about John McCain, because it's her money and he can't tell her when and how to spend it.
Any city gets what it admires, will pay for, and, ultimately, deserves…We want and deserve tin-can architecture in a tinhorn culture. And we will probably be judged not by the monuments we build but by those we have destroyed.--Ada Louise Huxtable, "Farewell to Penn Station", New York Times editorial, 30 October 1963 X-Ray Blues
RedImperator wrote:True, but how difficult do you think it would be for a family worth hundreds of millions of dollars to set up an automatic withdrawal every month?
Apparently, this is not what Amex has agreed to. An interesting detail someone brought to my attention.
RedImperator wrote:True, but how difficult do you think it would be for a family worth hundreds of millions of dollars to set up an automatic withdrawal every month?
Apparently, this is not what Amex has agreed to. An interesting detail someone brought to my attention.
0% interest on an AMEX charge card debt? Sweetheart deal, wish I was a millionaire beer heir.
Cindy McCain qualifies for a Centurion Card, which is so exclusive you can't even find information about it on AMEX's website (it's by invitation only, for Platinum cardholders who turn over more than $250,000 a year). I don't know if she actually has one, or what its late fees are. It's worth noting that in the fine print on AMEX's website, gold and platinum cards have "none" listed as possible late fees.
Any city gets what it admires, will pay for, and, ultimately, deserves…We want and deserve tin-can architecture in a tinhorn culture. And we will probably be judged not by the monuments we build but by those we have destroyed.--Ada Louise Huxtable, "Farewell to Penn Station", New York Times editorial, 30 October 1963 X-Ray Blues
RedImperator wrote:True, but how difficult do you think it would be for a family worth hundreds of millions of dollars to set up an automatic withdrawal every month?
Apparently, this is not what Amex has agreed to. An interesting detail someone brought to my attention.
0% interest on an AMEX charge card debt? Sweetheart deal, wish I was a millionaire beer heir.
Cindy McCain qualifies for a Centurion Card, which is so exclusive you can't even find information about it on AMEX's website (it's by invitation only, for Platinum cardholders who turn over more than $250,000 a year). I don't know if she actually has one, or what its late fees are. It's worth noting that in the fine print on AMEX's website, gold and platinum cards have "none" listed as possible late fees.
Are "Black" American Express cards less than the Platinum then? (Maybe the system here works a bit differently due to intermediaries ).
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0% interest on an AMEX charge card debt? Sweetheart deal, wish I was a millionaire beer heir.
Cindy McCain qualifies for a Centurion Card, which is so exclusive you can't even find information about it on AMEX's website (it's by invitation only, for Platinum cardholders who turn over more than $250,000 a year). I don't know if she actually has one, or what its late fees are. It's worth noting that in the fine print on AMEX's website, gold and platinum cards have "none" listed as possible late fees.
Are "Black" American Express cards less than the Platinum then? (Maybe the system here works a bit differently due to intermediaries ).
"Black" cards are the nickname for Centurion Cards, which are presumably the next level up from Platinum, since Platinum card-users get invited to get Centurion cards, as mentioned above. Unless by "less" you are talking about something other than the limit, like the late fees?
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RedImperator wrote:
Cindy McCain qualifies for a Centurion Card, which is so exclusive you can't even find information about it on AMEX's website (it's by invitation only, for Platinum cardholders who turn over more than $250,000 a year). I don't know if she actually has one, or what its late fees are. It's worth noting that in the fine print on AMEX's website, gold and platinum cards have "none" listed as possible late fees.
Are "Black" American Express cards less than the Platinum then? (Maybe the system here works a bit differently due to intermediaries ).
"Black" cards are the nickname for Centurion Cards, which are presumably the next level up from Platinum, since Platinum card-users get invited to get Centurion cards, as mentioned above. Unless by "less" you are talking about something other than the limit, like the late fees?
Ah, no, I meant less as in a step between Centurion and the Platinum.
It's just that I know someone who has a sheet black (Presumably Centurion) card, and wasn't sure whether it was the same thing (They do get quite a few perks and use it enough to be in the financial scale mentioned).
(And sidenote: Acording to Wikipedia, it's not an unlimited charge sheet, but the difference is hard to tell when the person needs to be "slicking" tens of thousands of dollars a year at least to qualify . In addition, the fees outside of the US for it seem to be about a quarter of the one time 5K USD and yearly 2,500 USD charge in the larcenous USA. According to Wikipedia at least).
Photography Genius is always allowed some leeway, once the hammer has been pried from its hands and the blood has been cleaned up.
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Guardsman Bass wrote:Isn't the "black card"/Centurion card made of titanium? You could ask her if her card is metallic.
The titanium card replaced the original plastic card only recently , and they have the original plastic version.
Wikipedias image is of a black credit card identical to the one they have, so yeah, that's the one. (Seems, you can get two credit cards if you "qualify", linked to the shared bank account)
Oh, and before any conspiracy theories start, I have a cheap ass "blue" AMEX card. (Think "youth" card for a bum like me ).
Photography Genius is always allowed some leeway, once the hammer has been pried from its hands and the blood has been cleaned up.
To improve is to change; to be perfect is to change often.
Guardsman Bass wrote:Isn't the "black card"/Centurion card made of titanium? You could ask her if her card is metallic.
The titanium card replaced the original plastic card only recently , and they have the original plastic version.
Wikipedias image is of a black credit card identical to the one they have, so yeah, that's the one. (Seems, you can get two credit cards if you "qualify", linked to the shared bank account)
Oh, and before any conspiracy theories start, I have a cheap ass "blue" AMEX card. (Think "youth" card for a bum like me ).
I've got a "Blue For Students" Card, although I've never used it.
“It is possible to commit no mistakes and still lose. That is not a weakness. That is life.” -Jean-Luc Picard
"Men are afraid that women will laugh at them. Women are afraid that men will kill them." -Margaret Atwood
If I understand this properly, she gets to park a big chunk of debt on the card, interest-free, while leaving the money in the bank or investment account where it can generate interest, for her.
Nice deal, if you can get it. And damned fiscally responsible, if you can avoid paying interest on your debt, while collecting interest on the same money, via investments.
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).
. In addition, the fees outside of the US for it seem to be about a quarter of the one time 5K USD and yearly 2,500 USD charge in the larcenous USA. According to Wikipedia at least).
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