Friday, October 03, 2008

Yep - That's Livin' On Middle Class Main Street - You Betcha!!

The 2007 income tax return for Sarah and Todd Palin shows that last year the couple had a gross adjusted income of $166,080 and paid $24,738 in taxes — about a 15 percent rate after deductions. In 2006, the records show, the Palins earned $127,869 as adjusted gross income, with taxes paid listed at $11,944 — less than a 10 percent rate.

On federal financial disclosure forms Palin and her husband listed assets worth from $960,000 to $2.3 million. Because the values of assets are reported in broad ranges, it's not possible to calculate an exact value for their holdings.

(Just for comparison)

The median income for a household in Wasilla was $48,226, and the median income for a family was $53,792. Males had a median income of $41,332 versus $29,119 for females. The per capita income for Wasilla was $21,127. About 5.7% of families and 9.6% of the population were below the poverty line, including 12.6% of those under the age of 18 and 9.7% of those 65 and older.

(And one more small comparison)

Like many Americans, their most valuable asset is their home in Wasilla, valued at between $500,000 and $1 million. According to the Matanuska-Susitna Borough, the land and structure at the Wasilla property is appraised at $552,100.

Estimated median house/condo value in 2006: $172,700.
Wasilla $172,700

In other words, Sarah may live on Main Street but she sure doesn't live like Main Street.

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