Official Net Worth: McCain $36.4 Million, Obama $799,000
One of the clumsy arguments that the McCain camp tried to make today in hopes of slowing down the media freight train over not knowing how many homes he and his wife, Cindy, own was that Barack Obama (D) is also a rich guy who lives in a mansion himself, just like McCain. I believe the term they used was "a frickin' mansion."
Well, there's just one problem with that argument. These guys aren't even in the same class.
Earlier this year, the nonpartisan Sunlight Foundation did an analysis of the net worth of each of the 535 members of Congress based on their personal financial disclosure.
Guess which one is worth about $36 million and which one is worth $799,000?
According to my trusty calculator, that means McCain's net worth is more than 45 times greater than Obama's.
So much for that argument...
Mark Nickolas is the Managing Editor of Political Base, and this story was from his original post, "Official Net Worth: McCain $36.4 Million, Obama $799,000"
Follow Mark Nickolas on Twitter: www.twitter.com/mnickolas
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McCain’s housing gaff is a glaring recognition of how distant, disconnected, and detached McCain is from the daily struggles of ordinary Americans most of whom are struggling to pay their mortgage on one house, or to pay rent, or to buy basic foodstuff, to buy gas, or to pay for medicine. McCain doesn't have to worry about his family budget.
And Obama does?
All these guys live in multi-million dollar houses and are career politicians which by definition means you are going to be detatched.
Some more than others obviously but they are closer to each other than they are to the average american.
I guess you didn't read the article. Also, try to research each candidate's bacground. Don't let the glare of the old man's money blind you.
The difference is that Obama did it from the bottom up not marrying it.
Obama did not bring up personal wealth, but when he has repeatedly been tagged as being an elitist, he has every right to show the comparisons between him and McCain. Obama has never said he is lacking in wealth, but he obtained his money by earning it (teaching constitutional law, writing two books, etc.), whereas John McCain married into it. Obama knows what it is like to not have much money. He got through school on loans and scholarships. He achieved the grades and the respect in order to get where he is today. John McCain apparently finished fifth from the bottom of his military school class. I'm guessing he would never have been appointed to that academy had his father and grandfather not attended.
BTW Obama's home is 1.3 million. That's NOT MULTI-MILLION.
1.3 million gets you a nice 2-3 bedroom apartment in NYC, a nice 3-5 bedroom single family home in Washington, DC and a mansion in Alabama. It still doesn't buy 7 multimillion dollar houses around the country. McCain stepped on his own lies and hypocrasy. Admit it and move on but don't try to turn it around.
Problem Number 3: I don't know about you all, but when I decided to move on out of my free living conditions at my parents (hopefully soon) I will be holding my hand out hoping for some donations for the "Joi Gets Her First House" fund. Most regular people I know need a little help getting into a home. Many are denied mortgages, struggle to come up with a down payment, and fins it hard find the right house for raising there family within their budget constraints. So to emphasize that, Obama, like most regular American's had problems getting the money together to buy his first home is the epitome of stupid! Even if he wants to argue that Resnik is a felon. He wasn't at the time that he offered to purchase the adjacent lot next to the Obama resident.
McCain is grasping at straws here. I hope the DEMs keep pounding him for it.
"Many are denied mortgages, struggle to come up with a down payment, and fins it hard find the right house for raising there family within their budget constraints"
It's about time many have been denied mortgages . . . look what happened when we just handed them out to those with bad credit.
You should struggle to come up with a down payment, it teaches you how to SAVE for something you want.
Not everyone needs to be a homeowner, those that want to and work for it can.
Take into the fact that the Obamas sold their first Condo for 899k 500k profit Plue advance book sells. Great down payment. Obama did not want the lot they only wanted the house.
http://www.metroprorealty.com/iProp/P54218.html?refType=Search&retURL=/iProp/apps_listingsSearchAction.cfm
The lot is not for sale by the Obamas. Maybe you can buy it huh?
Let's just conveniently forget the predatory lending practices practiced by the large lenders in their get rich quick flip the debt schemes!
What is ironic with McCaain's counter is the fact that McCain himself said that rich is making "more than $5 million". Now that Obama is holding his hand to fire, McCain defense is that Obama made "$4 million last year" and owes one "million dollar mansion" that he needed help to purchase because he couldn't afford the owner's original asking price.
Problem Number 1: By McCain's own calculations, Obama misses the "rich" threshold by 1 MILLION (yes, I said that in my head with the Dr. Evil voice) DOLLARS! Even if you factor in Michelle's income from her executive status at a Chicago hospital the Obamas are still more than a few hundred thousand short.
Problem Number 2: When did 1 equal 7 let alone 10? I am no math wiz (that's what a calculator is for) but that's Sesame Street math if I ever saw it. I have 1 Coach bag, that doesn't equate me with Kimora Lee Simmons who owns the entire Louis Vuitton collection, plus some pieces that are made exclusively for her.
"owes one "million dollar mansion" that he needed help to purchase because he couldn't afford the owner's original asking price."
I don't think the way to get help is from Tony Rezko.
Keating 5. McCain probably took a little of that bribe money to pay for one of those many condos that they own.
Except all he did was buy the property next to it. The previous owner of O bama's house owned the adjacent lot and would only sell the two together. Tony Rezko bought the lot and O bama bought the house. Big deal.
That is what Mccain said but it is not true. Unless you say in Chicago you really don't know what you are talking about. Resko brought the Lot which borders 55th and Greenwood street. The Obama did not want the lot. The offer that Obama made was the best offer and was accepted by the formers owners Dr now teaching at John Hopkins. Resko brought the lot for 300k and sold Obama a part of it to expand for his children. Deal between friends. Obama money came advance book sales and MO salary. They could afford that house. Plus they sold their Condo for 899k gaining them a 500k profit. So techically they go the house for less than 600K.
In fact he did not get help from Rezko to buy the house.
BTW, negotiating for a lower price is common and accepted practice in real estate purchase, doesn't necessarily mean he couldn't afford the asking price.
Let's not exaggerate the issue, by the time they decided to purchase a bigger home, the Obamas where ready and knew what they could afford, but everyone, except the super rich, still negotiate prices.
2007 Obama net worth - $4.7 million
The 2007 numbers for Obama (based on his 2008 Senate financial disclosure) has his net worth at $4.7 million as best I can tell. Quite a jump from $0.8 million in 2006, but nowhere near McCain's worth.
For the "net worth", Sunlight Foundation averages the min and max values of assets, after subtracting the max and min values of liabilities. Obama's minimum was $2,022,016 and maximum was $7,356,000, with no liabilities. Like many senators, Obama did not include the current net value of his home.
Obama: www.washingtonpost.com/wp-srv/politics/congress/fin_dis/2007/o000167.pdf (8 pages)
McCain: www.washingtonpost.com/wp-srv/politics/congress/fin_dis/2007/m000303.pdff (51! pages)
As O has become more known during this campaign, his book sales have gone up... hence the jump in income.
Dang! The jump in DearJohn's net worth between 1995 and 2006 is astronomical. Did Joey Bananas put him in his will?
Just run an ad with those numbers and we're talking quite a few new voters for Senator 0bama.
Really, who is the elitist. Sound like McCain, especially since his POW status entitles him to all the fine things. I served 22 years active duty, when the housing market crashed my business crashed with it... now I have nothing, not even a vehicle, even ended up on the street for a few weeks until I found a job. Seems to me that if McCains time as a pow entitles him to 10 houses, and 36 million, I should be entitled to at least one house and an even million. What do you thing Johnny, am I entitled to something? Or are you the special one?
"Seems to me that if McCains time as a pow entitles him to 10 houses, and 36 million, I should be entitled to at least one house and an even million"
No, him marrying a rich woman and becoming a successful Senator EARNED him the ability to have bunch of money.
Are you entitled to something? Respect, other than that you make your own way and stop whining that you don't have something you didn't earn.
Vets aren't entitled to something? This why I will never for a HypocritcalNam Vet. There are thousand of Vet's just like Charles J who are homeless or on the verge. You are damn right Nam Vets all Vets are entitled. God Bless you Charles J for your service. I am forever indebted.
100k Vets who are homeless.
....and if O bama more than doubled his worth in two years , that would amount to what against Mc ?
They used 11 yrs on Mc and only two on O bama .
"successful senator"?? Doesn't one have to show up for one's job to be considered "successful"?
Where is the picture of the Mccain in Architecture Digest.
Founded it!
http://www.architecturaldigest.com/homes/features/archive/mccain_slideshow_072005?slide=1#globalNav
This was posted on CNN. Great slogan, courtesy of Terry from Dallas, Texas:
Vote Obama.
One House.
One Spouse
lol, one house, one spouse...made my day.
That's all it takes to make your day? You must be a very simple person.
classic lol!
Oh, I love that... I'm gonna make my own bumber sticker~~~
Love it!
Pretty good slogan, be careful though. You don't know either of these guys. People thought they knew John Edwards and he has another affair coming out and a possible love child.
At the end of the day these guys are politicians so be careful with how much faith you invest in them.
PEOPLE TRYING TO COMPARE DEMS TO REPUBS WHO HAVE MONEY ARE MISING THE POINT!!!!
DEMS WHO HAVE MONEY ARE RAIR,BUT THEY STILL ARE WILLING TO GIVE US A PART OF THE CUT!!! AND THAT MY FRIENDS MEANS MORE THAN ANYTHING!!!
um, the images you show, show the net worth in 2006, not 2008.
It won't change anything, I'm sure - there is no conceivable way that Obama's net worth would jump to $36 million. But as a point of fact, the images (and therefore the details) appear to be wrong.
Why would they be wrong? It's 1995 and 2006 for McCain and 2004 and 2006 for Obama. Nobody said they were from 2008.
If O bama more than doubles his every two years ,wont take him long to catch up will it ?
They aren't "wrong". Is nitpicking the best Republicans can do?
BTW, they're just listing McCain's wealth, not his wife's-Cindy had over 100 million dollars & recently acquired 54 million more in one day, the day a Belgian company purchased AnheuserBusch-So, we have to also include this extra 154 million bucks in the McCain column-Obama's included his spouse in the equation, but McCain's didn't-
Great, thank you for pointing that out. I had not realized that Cindy hauled in another $54,000,000 from the Anheuser Busch sale.
boy the Righties or really running now..here comes Rev. Wright, I hope they get that desperate and use that card early too, just like the Rezko and Weatherman ads there not going to work because they were already recycled and recycled enough...thank Hannity for that, he mention Obamas affiliates so much that no one cares anymore, he made them safe.
Rezko's sentencing is coming up in September so they won't need to do anything to bring that one back up.
BTW, information on a guy in federal prison that hepled you buy your house, a anti-american church you attended for 20 years and a domestic terrorist probably won't get too old.
You're right... I feel sorry for McCain since he has all those same elements in his life times ten.
Okay, so my husband was once friends with a guy who many years later ended up in prison because of some crooked dealings. He even lived with him when they were both single and the guy was an usher at our wedding. He is now out of prison and we still talk to him when we run into him. Does that mean we are guilty of anything? I surely hope not! We had nothing to do with his crime and do not condone what he did. I'm guessing every person in America could be attached to someone shady if we look hard enough. I'm more concerned about what the candidate himself says and does. McCain and his wife have made too many inaccurate statements about personal experiences and policies. It's one thing to repeat something that was inaccurately handed down by family members, but it's something totally different to lie about what you yourself experienced.
BTW Rezko did NOT help Obama buy his house, and any wrong doing or illegal connection has been debunked by the courts ALREADY. So, that's a NON-ISSUE.
Wait a minute. McCain only makes about $400K a year. Where'd he get so much money? Reminds me of the story of the famous Mexican politician: Jorge Hank Gonzalez, who was a school teacher before being elected to public office and somehow aquired a net worth in the hundreds of millions of dollars. When asked how he got so rich in public office he replied "A politician who is poor is a poor politician."
Yeah and it doesn't hurt to have dumped your disabled wife and then married your heiress mistress a month later...
Boo Hoo ... I really hope you middle class bloggers will feel sorry for the RICH. We don't want the Bush tax cut to END for them in 2010. Why did they put a deadline on it? Oh, I know ... they knew it could NOT continue and when it ended, they could say "HERE YE, HERE YE, THE DEMOCRATS WANT TO RAISE YOUR TAXES." They want to keep getting richer and hope you get a $7,000 tax break at the END OF THE YEAR to help pay off your health care debt for the previous year. McCain may not be able to define rich or figure out how many houses, condos, ranches or whatever he owns, but BY GOLLY he can tell the middle class just how much MONEY they need to stay ALIVE and pay their taxes.
He thinks $5 mil annual income is the line that defines "rich"
He thinks lettuce pickers make $50 an hour
He thinks the economy is "strong"
He thinks his staff might know how many houses he owns
As a black person I can say that there are very few wealthy blacks in the US. Anyone with half a brain would already know this, but the Obama's should show their treu amonts "so called" wealth in an ad in comparison to John and Cindy McCain
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