When you're poor, it can be hard to pay the bills. When you're rich, it's hard to keep track of all the bills that need paying. It's a lesson Cindy McCain learned the hard way when NEWSWEEK raised questions about an overdue property-tax bill on a La Jolla, Calif., property owned by a trust that she oversees. Mrs. McCain is a beer heiress with an estimated $100 million fortune and, along with her husband, she owns at least seven properties, including condos in California and Arizona.

The property taxes had gone unpaid for 4 years until the McCain campaign was called out on the matter by Newsweek. Except, it would appear, that the McCains neglected to pay the whole thing.

Shortly after NEWSWEEK inquired about the matter, the McCain aide e-mailed a receipt dated Friday, June 27, confirming payment by the trust to San Diego County in the amount of $6,744.42. County officials say the trust still owes an additional $1,742 for this year, an amount that is overdue and will go into default July 1. Told of the outstanding $1,742, the aide said: "The trust has paid all bills shown owing as of today and will pay all other bills due."

I suppose that this shouldn't be that surprising given that McCain's understanding of economics is pretty much limited to having a copy of "Bubbles" Greenspan's book.

McCain suggested to reporters Monday that American consumer culture offered a short cut to expertise. "The issue
of economics is not something I've understood as well as I should," McCain said. "I've got Greenspan's book."

FellOnEarth

Temecula, CA

April 2006

JUN 29, 2008 10:51 PM

Yeah, McCain's having a bad year... This on the heels of McCain's Rove (Charlie Black) suggesting that another terror attack would help boost his chances of winning the election...

Ironically, McCain's befuddled pate was featured on this month's cover of Fortune Magazine with the headline, "How I'll Fix The Economy" (to be fair, they have an alternate cover featuring Obama with the same headline).

Meanwhile, an article in today's Los Angeles Times entitled "McCain bets on the road less traveled: Efforts to shift voters' focus from economic to foreign issues cold lead to victory - or lead him astray," focuses on improving his stature on national security and his image as a stronger leader on foreign policy. From the LA Times website: McCain's unorthodox campaign.

What's worse, McCain will likely be dogged for the remainder of his campaign association with chief economic adviser and friend, former Senator Phil Gramm.

McCain knows he's beat on the economy so he's hoping for a national security miracle...

gdarklighter

San Diego, CA

August 2005

JUN 29, 2008 11:35 PM

My money says this gets about 5 minutes of coverage in San Diego.

TaoAndCoffee

Stoney Creek, ON

June 2007

JUN 29, 2008 11:42 PM

I'm going to go ahead and confess that I had a hard time concentrating after reading the term "beer heiress". Just sounds like the best thing in the history of the universe.

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McCains default on property taxes

darwinsjoke

Virginia Beach, VA

July 2003

JUN 29, 2008 10:04 AM