The McCain campaign released financial documents on Friday indicating that Gov. Sarah Palin of Alaska had assets over $1 million, consisting largely of an ample retirement portfolio, real estate and her husband’s commercial fishing business.Ms. Palin, the Republican vice-presidential nominee, kept her tax rate low by putting all of her investments in tax-deferred accounts. In addition, she did not report as income the $17,000 that she received in per diem payments from the state while she remained at her home in Wasilla.
Tax returns for 2007 and 2006 show that Ms. Palin and her husband, Todd, had diverse sources of income. In addition to her salary as governor, there were capital gains from the sale of a snowmobile and income from Mr. Palin’s winnings in the annual Iron Dog snow-machine race.
One of the most disputed aspects of Ms. Palin’s tax returns, which were prepared by H&R Block, is the tax treatment of the per diem payments. The McCain campaign has said that these payments are not taxable income, a position that has been questioned by tax experts.
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