Neocon Nuttery
See other Neocon Nuttery ArticlesTitle: Cheney income tops Bush 12-fold
Source:
www.dailytimes.com.pk
URL Source: http://www.dailytimes.com.pk/defaul ... 20060416story_16-4-2006_pg4_10
Published: May 11, 2007
Author: staff
Post Date: 2007-05-11 15:38:30 by Ferret Mike
Keywords: None
Views: 166
Comments: 5
WASHINGTON: US Vice President Dick Cheney and his wife earned 8.82 million dollars last year, some 12 times the amount President George W. Bush made, the White House said Friday. But the Cheneys donated 6.9 million dollars of their income to charity, cutting their net income to a more manageable 1.96 million dollars - meaning that they will get a tax refund of 1.9 million dollars. The president and his wife Laura Bush reported a net income, after charitable donations and other deductions, of 618,694 dollars for 2005, of which 400,000 came from his White House salary. Their income was down from 672,788 dollars declared last year. The presidential couple gave 75,560 dollars to charities during the year, including relief funds after Hurricane Katrina last August and to help Pakistan after its devastating earthquake last year. Their net income left them with a federal tax bill of 187,768 dollars. Cheney’s stock options from his previous stint as chief executive at oil services firm Halliburton pushed his and his wife Lynne’s combined gross income to 8.82 million dollars. But their net income for 2005 totalled only 1.96 million dollars after accounting for nearly 6.9 million in tax-deductible donations to a fund for low-income school students and to two universities. Their final federal tax bill amounted to 529,636 dollars. The Cheneys paid 2.46 million dollars in taxes in 2005 but because of their charitable donations they paid too much and will get a refund of 1.96 million dollars, the White House said. Aside from the stock option gains, in 2005 the vice president received 211,465 dollars in deferred income from Halliburton, slightly more than the 205,031 dollars from his vice president’s salary. Lynne Cheney meanwhile reported earnings from from books she wrote, including “A Patriotic Primer” and “A Time for Freedom”; from the conservative think tank, the American Enterprise Institute, and from a former director’s position at Reader’s Digest. afp
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