Posted on 07/07/2004 2:00:39 PM PDT by NormsRevenge
WASHINGTON - Americans have a choice in November — they can vote for millionaires John Kerry (news - web sites) and John Edwards (news - web sites), or cast their ballot for millionaires George W. Bush and Dick Cheney (news - web sites).
Of the foursome, Vice President Cheney and his wife, Lynne, earned the most, according to their 2003 tax returns that showed an adjusted gross income of $1.3 million.
That's far more than what the typical American family brings home: the median household income in 2002 was slightly more than $42,400, according to the Census Bureau (news - web sites). Only about 2 percent of homes make more than $200,000.
Count the Bush, Kerry, Cheney and Edwards clans among those 2 percent.
Bush and his wife, Laura, listed $822,126 in adjusted gross income on their 2003 returns, while Kerry's income was about $393,000. The four-term Massachusetts senator has four trusts worth between $430,000 and $2.1 million.
The Democratic candidate filed his return separately from his wife, Teresa Heinz Kerry, heiress to the $500 million Heinz Co. fortune. She released information showing earnings of at least $5 million in 2003.
Bush, a former oil company executive, major league baseball owner and governor of Texas, lists among his assets his beloved 1,583-acre Texas ranch, worth between $1 million and $5 million. He also has U.S. Treasury notes valued at $5 million to $8.7 million.
Cheney, who once headed the oil company Halliburton Co., has between $15 million to $75 million in tax-exempt bond funds and $2 million to $10 million in stocks being handled by a global investment management firm.
Edwards, the North Carolina senator and Kerry's running mate, hasn't released his 2003 returns. He did file a financial disclosure statement that's required of the president, vice president, Cabinet secretaries and members of Congress.
In the statement, Edwards disclosed income of at least $680,000 last year, although that's a conservative estimate because lawmakers are allowed to list their income on disclosure forms in broad financial ranges.
While those statements lack the specifics of a tax return, they do offer a glimpse into the personal wealth of politicians. The net worth of Bush, Cheney, Kerry and Edwards runs well into the millions.
Edwards, the son of a two mill workers, built most of his wealth as a highly successful trial attorney, winning $150 million worth of verdicts or settlements in the 1990s. His financial statement shows assets of at least $19 million. Last year, Edwards sold his Washington, D.C., home for $3 million, $800,000 more than what he paid for in 1999.
Running for national political office takes millions and millions, so having millionaire candidates isn't unusual, Charles Lewis, executive director of the Center for Public Integrity, a nonpartisan watchdog group, said Wednesday.
"Unfortunately, it's not," Lewis said. "It's a sad commentary on our system."
Lewis said a voter may instead consider how a candidate made their money, or in what profession, rather than if they are wealthy. He also noted that in this year's Democratic primaries, less wealthier candidates such as Rep. Dick Gephardt (news - web sites) of Missouri and Al Sharpton (news - web sites) weren't popular with voters.
Terry Madonna (news - web sites), a political scientist at Franklin & Marshall College in Lancaster, Pa., said he didn't think the typical voter "sees (rich candidates) as hypocrisy or as inconsistent. For the voters that matter, they will look at positions and policies more than anything else."
Democratic Presidential candidate Sen. John Kerry (news - web sites), D-Mass., hugs his newly selected running mate Sen. John Edwards (news - web sites), D-NC, in Cleveland, Ohio Wednesday, July 7, 2004 during their first campaign rally together since the selection. (AP Photo/Gerald Herbert)
Democratic Presidential candidate Senator John Kerry (news - web sites) (D-MA) (2nd L) and Vice Presidential candidate Senator John Edwards (news - web sites) (D-NC) (2nd R) are showered in confetti with their wives Theresa Heinz Kerry (L) and Elizabeth Edwards (R) at a rally in Cleveland, Ohio, July 7, 2004. Kerry and Edwards will be formally anointed later this month at the Democratic convention in Boston as the party's challengers to President George W. Bush (news - web sites) and Vice President Dick Cheney (news - web sites) in the November 2 election. REUTERS/Jim Young US ELECTION
Kerry can't wait to see Edwards's financial records. On the evidence of your picture, and past history, if the money is right the Johns will be skipping over to the Bay State and get hitched right after Mrs. Heinz gets dumped.
He's investing in the company.
Democratic Presidential candidate Sen. John Kerry (news - web sites), D-Mass., kisses his wife Teresa Heinz Kerry during a campaign rally in Cleveland, Ohio Wednesday, July 7, 2004 with his newly selected running mate John Edwards (news - web sites). (AP Photo/Gerald Herbert)
In front of a huge banner proclaiming 'Kerry and Edwards: A New Team for a New America,' the presumptive Democratic presidential nominee told thousands of supporters that he and his newly minted running mate were America's 'dream ticket.' REUTERS/Ron Kuntz US ELECTION
Huh?
I think Kerry made a big mistake selecting the Brek girl as a running mate. I saw the two together on Fox today, and having a young girly boy standing next to old horse face kerry made Kerry look really, really, REALLY ugly. I didn't find him attractive before, but next to baby face he's a real dog!
Kerry looks like he brought his grandson along with him for the ride - after his funerally!
The Democratic candidate filed his return separately from his wife, Teresa Heinz Kerry, heiress to the $500 million Heinz Co. fortune. She released information showing earnings of at least $5 million in 2003.
HUH!? Since when is $1.3 million more than $5 million? This reporter musta learnt his 'rithmatik in publec skool.
Notice how T-raiza always look pained when John is kissing her.
Yes. She never seems as though she's in love with him, or even wants to be there. She always looks like she wants to puke when he gets too close. She gets grossed out when he touches her.
I'll bet there was no prenuptural agreement before they married. Kerry could run off with half her fortune if she divorced him, right?
He was just a rebound after her first husband died in a plane crash. He too was a politician, but an honorable Republican. It's now like she's imprisoned with her worst nightmare.
I am going to vote for the people who gained their wealth buy working for it and not stealing it from others.
Wealth? Nah - People will be swayed more by 'the four looks' - Smile - Smirk - Sneer - Sour.
The liberal errors in this report are rampant.
First, Kerry is a BILLIOAIRE. They omit Terrazo's money.
Second, it confuses INCOME with WEALTH. The two are not the same.
Were FDR, JFK, LBJ "rich" when they became president?
And how about Eisenhower, Truman, Nixon?
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