2007 tax returns of Bush and Money bag Cheney.

Here are the 2007 tax returns of Bush and Cheney:

Vice President Dick Cheney

Bush Press Release

Here was Dick's 2006 tax return:

From the White House website:

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

Interesting that in 2005 Cheney reaped the rewards of Katrina on his tax return:

Kirsch: Cheney Tax Return Shows Katrina Tax Benefits for Non-Katrina Charitable Contributions

Vice-President's 2005 tax return:

The press release seems to confirm, at least implicitly, the VP's efforts to take advantage of the Katrina legislation -- it mentions that the Cheneys wrote a personal check of $2.3 million to the administrator in December in order to "maximize the charitable gifts in 2005." Admittedly, I don't know anything about the transactions beyond the info in the press release, but my gut reaction is that the personal check was given in order to make sure the independent administrator had sufficient liquid assets to pay all of the promised charitable contributions before the 50% limit returned on 1/1/06.

I am not buying that Cheney's taxable income is over 3 million only. I bet most of his money is overseas and his most of his assets are in stock in Halliburton.