Quote:
Originally Posted by raycarey  Quote:
Sen. John McCain has long said he is in robust health and is strong enough to hike the Grand Canyon, but he also is receiving what his staff Monday termed a "disability pension" from the Navy.
When McCain released his tax return for 2007 on Friday, he separately disclosed that he received a pension of $58,358 that was not listed as income on his return.
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Certain types of military and veterans pensions are either partially or completely tax-exempt, depending on the seriousness of the disability. In McCain's case, the exemption is 100%.
If McCain had to pay taxes on the full amount of the pension, it would have increased his tax bill by about $18,000 based on the percentage of his income he paid to the federal government.
| another good question raised in the article....if he qualifies for a full disability pension, how is he fit to be commander in chief? |
You've upped the ante to full disability. You're either wrong, or caught -- you decide. POW disability pensions are 100% tax-exempt. That doesn't mean they're full disability pensions. That medical determination was made at the time of his discharge from active duty -- in the 80s -- some revelation.
You're yammering over a
legitimate annual tax savings of $18K. Hardly a showstopper.
(I'd stick to his age)