While we wait for the 2011 returns, Team Linda is joining the rest of the candidates and releasing her 2010 tax returns instead. McMahon says she is releasing the 2010 documents and will share the 2011 returns when they are completed (the McMahons have and extension until October). The 2011 documents will likely not be available until after the primary, we are told.
The returns show the obvious – Vince and Linda make a Greenwich-sized income, despite their humble roots – which makes the controversy over sharing the information seem like an odd exercise for the campaign. Under pressure this week, the campaign relented and released the 2010 documents Friday afternoon.
The McMahon’s adjusted gross income for 2010 was $30.5 million. Linda McMahon spent nearly $50 million on her senate campaign. Which means that in some ways, Linda is like a lot of Americans – she spent more than the couple made that year.
Here’s the McMahon income tax return for CT from 2010. Vince and Linda paid $2.1 million in state income taxes in 2010 and $4.7 million in federal taxes. I’ll get a link up to the full federal return as soon as I can figure out how to do it.
There are no shadowy foreign bank accounts. She paid taxes on foreign investments. Sharp-eyed Paz notes that household staff earned $197,481. The couple’s tax rate was about 15 percent (more than me and Warren Buffet but less than President Obama and Chris Murphy) and they received a refund of $1.5 million.
The couple also made $122,o00 in charitable gifts, a lot of money but still a fraction of their $30.5 million income. (McMahon’s Democratic rival Murphy did not itemize his charitable deductions on his 2011 return.)
The couple’s charitable foundation, a separate entity, made $1.6 million in gifts to a variety of sources, including $333,000 to East Carolina University to endow a professorship and $100,000 donations to Sacred Heart University in Fairfield, the Boys & Girls Club of Stamford and the Connecticut Basketball Club, Inc. in Hartford.
If you enjoyed this article, please consider sharing it!
16 Responses to McMahon Tax Documents
- -- ADVERTISEMENT --
- -- ADVERTISEMENT --
2.1/32.7 = way more than Rick Green or Anderson Scooper paid.
Now what? Like the Dump Dodders, you got what you wanted and now you have no clue how to continue the class warfare. Let me guess, we’re going to start talking about property taxes now…..
LMAO!!!!!!
It also shows that they paid more 1yr than Rick Green, his kids, grandkids and great grandkids will ever pay. Actually they also gave more to Charity than Rick Green, Colin McEnrude and every staffer/employee of the Hartford Kuraunt combined.
How much have the Murphy’s paid this Century? In their entire lives? Less than McMahon in 2010 is what I hear. What should we do, vote for Murphy because his wife is a dope and quite unlike Vince McMahon?
The new CT Democrat reality show: “Pity me: I married a dope.”
Listen to the leftist moan and bitch
Making an issue because Linda’s rich
Like Change and Hope
Vote for Murphy the dope
November sixth let’s scratch that conservative itch
The other annoyance: a 20% flat tax would be more than the McMahon’s paid. This is often true. While I support extending the payroll tax to all income, investment income is the source of income for most high earners. Some set up their own corporations for that purpose: they get paid dividend income or in stock shares or whatever avoidance mechansim du jour.
Herman Caine was on to something with his flat 9-9-9 proposal. In a perfect world investment income and regular income and stock awards would be taxed equally (and corporate tax). Corporations that structure themselves as non-profits or are structured to lose money (like the Trib and anythng Sam Zell touches) would still pay a revenue or VAT type tax of 9%.
Top 500 cities in the US (population over 64,000)
Top 10 individual poverty 2010 census.
Detroit , MI — 31.3
Lorain, OH — 31.0
Flint, MI — 30.9
Camden, NJ — 30.2
Youngstown, OH — 29.8
Brownsville, TX — 29.8
Hartford, CT — 29.7
Gary, IN — 29.6
Pontiac , MI — 29.1
Cleveland, OH – 28.8
And what does Murphy’s tax return have to do with solving the real problems?
Just because Murphy’s an earnings lightweight compared to McMahon I don’t think that’s the reason to question his candidacy and call him unworthy.
You guys do realize that pre-Bush the McMahon’s would have been taxed at 35%?
Maybe you grew up in a different America but a progressive income tax had been part of the American landscape since before World War II.
Anyway, preferable tax treatment for the uber-rich has not led to booming job growth. Instead it’s just given us large deficits and a frightening level of national debt…
You do realize the WWE paid $23.8 million in corporate taxes on average over the last 5 years?
Using the $6.8 million the McMahon’s paid this last year as average and their $1.72 million in charitable donations that makes their effective tax rate more like 100% as their $31 million in income is offset by their personal and corporate taxes and charitable giving.
That also works out to $180 million in personal and corporate taxes and charitable giving during the time Murphy was in office.
So you want another 10% of their money? That seems to be the only thing the Murphyites add to the discussion. They can’t tell me they will spend it correctly or intelligently or produce results. Hartford is their Mecca, Their Xanadu. The triumph of liberal policy in the North East.
We have Democrats taking payoffs, conspiring with the teachers unions to foresake $300 million in ‘Race to the Top’ education funding, and you want what? Another $3 million a year from the McMahon’s? That would take 100 years to make up for the shenanigans and payoffs over the RTTT payoff fiasco that went down over the last 3 years and last 2 Governors.
Had the McMahon’s paid another $3 million a year while Murphy was in office ($18 million a year) do you think things would be better in the Fifth District? Nope. Not a penny better. Getting rid of Murphy will imprvoe the fifth. Nothing more.
I don’t have a problem with taxing the rich and taxing them heavily. But I can’t see handing it over to organized crime either.
We need school vouchers for public, private, parochial, and alt schooling models. Health care vouchers. We need a minimum income on a National ID Card that doubles as a National EBT card and Medical Records. We need full employment. We need a 2% Asset tax distributed to F/T workers.
We start by getting rid of every last public sector worker in between recipients and their money starting with disgusting corrupt non-profit gatekeepers who live to create more clients and resolve nothing.
If you are going to be a liberal be a good liberal. Not a clueless dim wit who supports paying the Union Vig and their Rube Goldberg administrative boondoggles posing as liberalism.
And vegetarianism! Free the fruit and vegetables!
Richard,
I’m not quite ready to toss the concept of progressive taxation. But at the least I’d like the McMahon’s to be taxed at the same rate I am!
After that, maybe Ms. McMahon could speak to the deficits and the National Debt. If tax breaks for the rich are so good for the country, why are we doing so poorly following G.W. Bush? And Linda’s answer is more tax cuts? C’mon.
For Richard:
Silent screams of lettuce and corn
Protecting the criminals but not the unborn
Lefties will eat the beet
But refuse to swallow some meat
Laughing at all of this political theater and porn
Back in March 2008, the State Department launched an investigation of improper computer access to the passport records of Barack Hussein Obama, and days later those of as Hillary Clinton and John McCain. The investigation centered on one employee: a contract worker for a company that was headed by John O. Brennan, a key Obama campaign adviser who later became assistant to the president and deputy national security adviser for Homeland Security and Counterterrorism.
Then, a month later, the key witness in this case was murdered. Lt. Quarles Harris, Jr., 24, was shot in the head in his car, in front of his church.
During the 2008 presidential election, I ran a number of stories at my website, AtlasShrugs.com, on the breach of Obama’s passport. Fast-forward to four years later, and there is no new information. Why is this murder case not being pursued? Who at the State Department is covering up Obama’s passport breach? Lt. Harris told federal investigators before he was murdered that he received “passport information from a co-conspirator who works for the U.S. Department of State.” What became of the “co-conspirator”? Why wasn’t he/she brought to trial?
I always thought that the perpetrators rifled through Clinton’s and McCain’s files to make it look as if they were looking for dirt on all three, but that it was Obama’s passport records that they were actually interested in accessing. Thus, secondarily, almost as an afterthought, there were “violations” concerning Clinton and McCain. For who stood to gain from a tampering, and why?
There is no way to tell what might have been done to Obama’s passport records by those who accessed them. Key information could have been altered or destroyed. On April 8, 2008, after the breach became public, Obama confessed to having taken a trip to Pakistan in 1981. The then-candidate said: “I traveled to Pakistan when I was in college.” Journalist Jake Tapper was surprised and said: “This last part — a college trip to Pakistan — was news to many of us who have been following the race closely. And it was odd that we hadn’t hear about it before, given all the talk of Pakistan during this campaign.”
Did Obama confess to this trip, which he doesn’t mention in either of his autobiographies, because of the passport breach? While the oft-repeated charge that Americans were forbidden to travel to Pakistan in 1981 appears to be false, questions remain about why Obama took the trip at all, and what he did there. Indian counterterrorism expert Bahukutumbi Raman asked pointed questions about this trip:
Why did he keep mum on his visit to Pakistan till this question was raised? Has he disclosed all the details regarding his Pakistan visit? Was it as innocuous as made out by him — to respond to the invitation of a Pakistani friend or was there something more to it? As I read about Obama’s visit to Pakistan in the 1980s, I could not help thinking of dozens of things. Of the Afghan jihad against communism. Of the fascination of many Afro-Americans for the jihad. Of the visits of a stream of Afro-Americans to Pakistan to feel the greatness of the jihad. Of their fascination for Abdullah Azzam[.]
It bears noting that John Brennan has made some incredible pro-terror remarks — some in Arabic no less — about the beauty of jihad.
Raman acknowledged that these were “morbid” speculations but said they were “understandable when one has a feeling that one has not been told the whole story, but only a part of it.”
And Obama confessed to this trip two weeks after his passport was tampered with. There is a video here of Obama’s response to the passport breach back on March 21, 2008. It’s telling that he assures everyone that he has nothing to hide: “not because I have any particular concerns” (0:23). This is before the birth certificate controversy. Who would say that — unless he did have particular concerns?
Obama said at the time that attempts to “tap into people’s personal records” were “a problem not just for me, but for how our government functions.”
Laughable, considering how intrusive his administration has been and continues to be in accessing private information.
Also laughable is the enemedia’s pretensions to journalistic integrity when they refuse to ask these questions. A man is dead, and there is abundant evidence of improper conduct by Obama and his cronies, and the media lets the story lie dormant for four years. Lt. Harris deserves better. So do the American people.
yeah, I’m still voting for Linda. Getting tired of these liberals and their nonsense, and I’m a liberal, but enough is enough.