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The Washington Independent
The Washington Independent

A Joe Six-Pack Family?

Rian Mcconnell
News
Last updated: Jul 31, 2020 | Oct 04, 2008

Today’s the big day.

What day is that, you ask?  Why, today’s the day the Alaska Gov. Sarah Palin and her husband, Todd, released their much-awaited financial records — and they are quite revealing.

From the McCain campaign Website:

SUMMARY OF TAX RETURNS

Taxes Paid:

For 2006, the Palins paid $11,944 (LINE 63) in total taxes on gross income of $127,869 (LINE 37), which is a 9.3% tax rate.

For 2007, the Palins paid $24,738 (LINE 63) in total taxes on gross income of $166,080 (LINE 37), which is a 14.9% tax rate.

Charitable Contributions:

In 2006, Sarah and Todd Palin donated $4,250 to charity in cash/check donations and $630 in non-cash/check donations, for a total of $4,880. This is 3.3% of their adjusted gross income.

In 2007, Sarah and Todd Palin donated $2,500 to charity in cash/check donations and $825 in non-cash/check donations, for a total of $3,325. This is 1.5% of their adjusted gross income.

According to figures from the U.S. Census Bureau, a household income of $166,080 in 2007 placed the Palins well into the top quintile — or 20 percent — of American households. (The quintile begins at $100,000.)

The top five percent  — or 95th percentile — of household income in the United States begins at $177,000.

I can’t find more exact figures, but it’s safe to say that the Palins ranked somewhere around the top 10 percent in income of all American families in 2007.

And the Associated Press reported yesterday that the Palins’ net worth is estimated to be at least $1.2 million.

What was that you were saying about being a “Joe Six-Pack” family, Gov. Palin?

Rian Mcconnell | Rian is a Villanova University graduate who was born in DuBois, Pennsylvania. He graduated from Thomas Jefferson University in Philadelphia with a medical degree. His residency was at Thomas Jefferson and its associated Wills Eye Hospital, and he finished his education with fellowships in cataract and corneal surgery at the University of Connecticut. He has a vast experience in ophthalmic surgery, with a focus on cataract surgery, corneal transplantation, and laser refractive procedures. He serves on the board of Vision Health International, an agency that provides eye care and surgery to indigent patients in Central and South America, in addition to his surgical practice.

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