Why did John McCain have as much trouble as he did giving the answer to how many homes the McCain’s have? Because they’re all owned by Cindy McCain, her children, or the trusts they control. McCain himself doesn’t own a single property. Kenneth Vogel of The Politico writes:
John McCain’s family owns at least eight properties — not the seven Democrats are alleging or the four McCain’s staff identified — according to a Politico analysis of property and tax records, as well as interviews.
The presumptive Republican nominee, though, may have some wiggle room in explaining why he couldn’t immediately provide an answer when asked by Politico how many houses he and his wife, Cindy, own. 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. …
Politico’s analysis of the McCain records found that five of the eight properties were purchased between the summer of 2004 and this February, for a total of $11 million. And the analysis found that the McCains hired additional household help in 2007.
The five new properties are all condominiums, and they include three in Phoenix — one of which became the couple’s primary Phoenix residence after a Cindy McCain family trust in 2006 sold for $3.2 million the house in which they raised their children — and a pair outside San Diego.
The new properties joined three previously owned by 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 three-bedroom Arlington, Va., condo that’s been John McCain’s Washington-area residence since 1993; a La Jolla, Calif. condo that is home to Cindy McCain’s elderly aunt and on which the trust recently paid nearly $7,000 in back taxes.
Which is why McCain couldn’t give the number. Not because he owns so many homes that he lost count, but because they’re all owned by his wife (whose finances are separate per a per-nuptial agreement) and the trust funds in her family.
Meanwhile, Obama has opened himself up to Rezko-based attacks. Good job, Barry.
by Stephan Tawney on Thu, Aug 21, 2008