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Bush, Cheney 2007 income tax returns.

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2007 income tax return information released Friday for Bush and Cheney.

THE WHITE HOUSE

Office of the Press Secretary

________________________________________________________________

For Immediate Release April 13, 2007

PRESIDENT AND MRS. BUSH RELEASE 2006 TAX RETURN

President and Mrs. George W. Bush reported taxable income of $642,905 for the tax year 2006. This resulted in a total of $186,378 in federal income taxes paid by President and Mrs. Bush.

The President's 2006 income included salary earned as President and investment income from the trusts in which their assets are held.

President and Mrs. Bush contributed $78,100 to churches and charitable organizations, including the Crawford Volunteer Fire Department, the Federal Government’s Combined Federal Campaign, Operation Smile, Martha’s Table, the Salvation Army, Susan G. Komen Foundation, and the Yellow Ribbon Support Center.

# # #


VICE PRESIDENT DICK CHENEY AND MRS. CHENEY

RELEASE 2006 INCOME TAX RETURN

Vice President and Mrs. Cheney filed their federal income tax return for 2006 today.

The income tax return shows that the Cheneys owe federal taxes for 2006 of $413,326 on taxable income of $1,614,862. During the course of 2006 the Cheneys paid $464,789 in taxes through withholding and estimated tax payments. The Cheneys elected to apply the resulting $51,463 tax overpayment to their 2007 estimated tax payments.

The wage and salary income reported on the tax return includes the Vice President’s $208,575 government salary. In addition, the tax return reports a pension benefit of $27,500, which the Vice President received as a former director of Union Pacific Corporation. The Vice President became eligible for this benefit in 2006 when he turned 65. The tax return also reports Mrs. Cheney’s book royalty income, which includes a partial royalty advance on a book she is writing about growing up in Wyoming. It also reports wage and salary income from her continuing work at the American Enterprise Institute and a pension benefit of $32,000, which she received as a former director of Reader’s Digest. The amounts of the pension benefits received by the Vice President and by Mrs. Cheney are fixed and will not increase or decrease based on changes in the earnings or revenues of either company.

The Cheneys donated $104,425 to charity in 2006. This brings the Cheneys’ total charitable contributions during his Vice Presidency to $7,800,019.

# # #

6 Comments

Only $504,150 is accounted for on this press release, on combined income of $1,614,862.

How about the "deferred compensation" from Halliburton? Has it run its course, or is the administration choosing to not mention it in this year's press release?

Typically it is nearly equivalent to Cnehey's salary as Vice President.

"In addition to his $190,134 government salary, Cheney earned $162,392 in deferred compensation from Halliburton Co., the Dallas energy services firm he headed until August 16, 2000."

- San Francisco Chronicle, April 12, 2003

"Vice President Dick Cheney received $178,437 in deferred pay last year from Halliburton Co., the Texas oil-field services company he once headed that has since received billion-dollar government contracts in Iraq ... Cheney reported $198,600 in vice-presidential salary for the year."

-Reuters/ CNN.com, April 13, 2004

In 2001, The US invaded Afghanistan. Halliburton support personnel went in first and built the infrastructure.

Cheney's Halliburton bonus and deferred compensation that year: $1,598,977

In 2002, Cheney agitated for the invasion of Iraq. Halliburton received an open-ended, no-bid contract to repair and rebuild Iraq's oil infrastructure.

Cheney's deferred compensation for 2002: $162,392

In 2003, the United States invaded Iraq. Security forces from Halliburton's subsidiary Kellogg, Brown and Root -- essentially a corporate mercenary operation -- were on the ground.

Cheney's deferred compensation for 2003: $178,437

Cheney's deferred compensation for 2004: $194,852

Cheney's deferred compensation for 2005: $211,465.

Cheney's salary as Vice President in 2005: $205,031.

The Cheneys' gross income for 2005, including exercised Halliburton stock options: $8,819,006

The Cheneys' 2005 tax refund after giving nearly $7 million to charity: $1,938,930

I think its only fair that ALL the big-name politicians have their income tax returns also made public. Only fair ! I mean I'd love to have everybody see how much Teddy Kennedy makes and donates here in America. And then explain why much or should I say most of his money is hidden out-of-country (please buy the following book, "Do as I say, Not as I Do.") Like I said, only fair.

How does Cheney etc get away with deferred income for companies doing business with the government??

Cheney's afiliation with Haliburton is the worst conflict of interest in the history of the country! If your city councilman, or your state representative had any such conflict of interest, they would be forced to resign in ignominy.

Consider that Haliburton subsidiary, Kellogg, Brown & Root, recieved $33 million, in 2002, to build and expand the Guantanamo Bay facilities, where hundreds of "enemy combatants" have been held.

When are we going to put public involvement, and the public interest back in "Democracy"?

Does the President/VPresident have to report stock options they buy or are given as part of their income?

Many CEO's have deferred compensation for several years after termination. It was for 5 years after leaving, and the compensation wasn't tied to Halliburton's profits. Cheney also donated his stock to charity and ANY profits from his options to charity in an unrevokable trust. You guys who hate Cheney need to get the facts and also, get a life.

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Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

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This page contains a single entry by Lynn Sweet published on April 14, 2007 1:49 AM.

Vice President Cheney in Chicago. Slams Democratic leadership. Transcript. was the previous entry in this blog.

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