Thursday, July 03, 2008

McCain's child spends equivalent of US median annual household income in a single month

The Atlantic


.........John McCain is an all-American regular guy who, like most people, earns his keep by marrying an heiress. Like average, everyday folks the McCain's rely on credit cards to make ends meet month-to-month "Cindy McCain charged as much as $500,000 in a single month on one American Express card and $250,000 on another, while one of their two dependent children had an AmEx card with a monthly balance as large as $50,000." Yes it's true, one of McCain's dependent children spent approximately the median annual household income of the United States in a single month and that's how McCain knows how to connect with regular people.

Similarly, Mrs. McCain "favors suits made by the German designer Escada, which typically retail for around $3,000 a pop" so she understands that most Americans welcome Wal-Mart's discount prices. And like many Americans, the McCains are very effected by developments in the real estate market, since "trusts and corporations controlled by her and her children spent nearly $11 million between the summer of 2004 and February 2008 on three condominiums in Phoenix and a pair outside San Diego." The McCains understand that these days many young people graduate from college saddled with debt and need a helping hand, that's why they spent "$700,000 for a 1,900-square foot, three-bedroom loft condo for her then-22-year-old daughter Meghan McCain" after she graduated from Columbia. Similarly, they know all about problems with inflation since they "increased their budget for household employees from $184,000 in 2006 to $273,000 in 2007, according to John McCain’s tax returns."

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