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THE RICH REALLY ARE DIFFERENT.
We know John and Cindy McCain are seriously wealthy - Cindy's fortune has been estimated at $100 million, and they have seven, yes, seven homes (if you're keeping track at home, there's the estate in Sedona, which has two houses on it, the $4.7 million condo in Phoenix, the condo in Arlington, VA, the condo in La Jolla, and the two condos in Coronado, California). But today, Politico managed to unearth a few juicy details that show us just what kind of a lifestyle that gets you. Sure, Cindy buys $3000 suits - not that big a deal. But here are some other interesting points:
- Since 2004, they've spent $11 million on real estate.
- At times, Cindy has charged as much as $500,000 on one credit card and $250,000 on another in a single month. You really have to work hard to charge three quarters of a million dollars in one month. What is she buying, gold-plated Ferraris?
- Though the McCains spent a modest $184,000 on household staff in 2006, in 2007 they spent $273,000. And who can blame them? It's so hard to get good help these days.
- This is my favorite quote, about why they own two condos in the same building in the beachside town of Coronado: "When I bought the first one, my husband, who is not a beach person, said, 'Oh, this is such a waste of money; the kids will never go,'” she told Vogue. “Then it got to the point where they used it so much I couldn't get in the place. So I bought another one.”
Finally, I have a question: When, oh when, will the media frenzy over the fact that the McCains were delinquent on their property taxes ever end? Oh wait - it never started.
--Paul Waldman
COMMENTS (9)
Someone needs to create a t shirt with those stats. I'd wear it.
Posted by: ohcomeonhussein | July 2, 2008 11:27 AM
Actually, the household staff thing I don't find troubling. I bet that includes extra help for fund-raisers and the like to keep the places ready to host private, $1000-a-plate dinners and the like.
The rest is interesting.
Posted by: William Smith | July 2, 2008 11:34 AM
There are at least two condos in Phoenix. In that same article, they bought a place downstairs from the penthouse that is, apparently, their primary residence.
And they bought Megan a three bedroom place as a graduation present. So I guess it's not, technically, a John and Cindy home
Posted by: Jim | July 2, 2008 11:56 AM
It really didn't bother me that the media hasn't paid much attention to the San Diego property tax flap . . . until today's Washington Post piece of crap about Obama's home loan.
Posted by: Jennifer | July 2, 2008 12:06 PM
It's true, The Rich really are different. They know how to live.
Posted by: ed | July 2, 2008 12:54 PM
Well, considering that none of the money that was spent was taken from the taxpayers, why should anyone care about Cindy freely choses to spend her money?
Moreover, isn't she doing her bit to keep the ecomony growing by spending that money so recklessly in your appearent view?
Posted by: Chicounsel | July 2, 2008 2:46 PM
Well, considering that none of the money that was spent was taken from the taxpayers, why should anyone care about Cindy freely choses to spend her money?
Well, Chicounsel, it's called the jealousy of socialists.
The real thing to watch is politicians that go into politics and come out mega-wealthy such as the Clintons. If Obama gets elected, I will take all comers that he will leave the presidency a very, very wealthy man.
Instead of making money by supplying goods and services buyers want, these people use insider info, insider contacts....use their position to acquire wealth.
Posted by: El Viajero | July 2, 2008 3:28 PM
"The real thing to watch is politicians that go into politics and come out mega-wealthy such as the Clintons. If Obama gets elected, I will take all comers that he will leave the presidency a very, very wealthy man."
Oh, please, no question. Why else be president? Or senator, etc. So, I agree. If you want to report on politics and personal fortunes, report on how they govern affects how much they make in their next career. Waldman is shooting at butterflies in comparison-- the big donors know who, of the two, is more likely to grease their skids.
Posted by: Anonymous | July 2, 2008 4:38 PM
But Obama has a mortgage rate a fraction of a point lower than mine!!!
Posted by: John McCain: More of the Same | July 2, 2008 4:42 PM