Their Money

MSN Money’s Tim Middleton takes a look at the personal finances of John McCain and Barack Obama, in order to get a better feel for the candidates. He reports some revealing nuggets of information.

John McCain files taxes separately from his wife Cindy, who inherited a beer distributorship from her father. He personally maintains a relatively modest amount of credit and cash. Most of the McCain household’s assets (estimated $24.6 million to $39.5 million) are in his wife’s name.

Barack Obama’s net worth has skyrocketed the past three years, mimicking his career path, but it remains far behind Cindy McCain or even the Clintons. Obama is worth as much as $7.3 million dollars (compared to the Clintons $100 million). Middleton notes that much of the Obamas’ worth is in tax-free investments, befitting someone who wants to raise the top marginal rate on income from 35 percent to 52 percent.

Not that I have to worry about a 52 percent tax rate, but that’s getting up to Jimmy Carter territory.

UPDATE: Somewhat related, CNN/Money looks at the candidates competing economic plans.

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