Who says John McCain is out of touch with the common people?
Property records show that trusts and corporations controlled by her and her children spent nearly $11 million between the summer of 2004 and February 2008 on three condominiums in Phoenix and a pair outside San Diego.That's right. The McCains pay $270,000 per year for butlers and maids--that's $50,000 more than the median value of an American home.
One of the Phoenix condos, a 6,600-square-foot unit for which Cindy McCain’s trust paid $4.7 million in October 2006, became Cindy McCain’s primary residence after the trust sold the couple’s Phoenix house for $3.2 million in December 2006. She had purchased the house years earlier from her father.
Less than one year later, a corporation controlled by Cindy McCain bought another condo on a lower floor in the same building for $830,000.
And, in between, the corporation plunked down $700,000 for a 1,900-square foot, three-bedroom loft condo for her then-22-year-old daughter Meghan McCain, who was moving back to Phoenix after graduating from New York’s Columbia University.
Cindy McCain, through another family corporation, spent about $4.7 million in 2004 and 2008 on two condos in an exclusive building in Coronado, Calif., an affluent San Diego suburb noted for its high percentage of military retirees.
In her recent Vogue interview, conducted from the newer Coronado condo, McCain explained that her husband, a Navy veteran, initially wasn’t keen on the idea of a pied-à-terre in Coronado.
"When I bought the first one, my husband, who is not a beach person, said, 'Oh, this is such a waste of money; the kids will never go,'” she told Vogue. “Then it got to the point where they used it so much I couldn't get in the place. So I bought another one.”
Through her trusts and other corporate entities, Cindy McCain also owns another three properties: a scenic ranch outside Sedona, Ariz., where John McCain has entertained staff, prospective running mates and political reporters; a three-bedroom Arlington, Va., condo that’s been John McCain’s Washington-area residence since 1993 and the La Jolla, Calif., condo on which the back taxes were due.
The McCains increased their budget for household employees from $184,000 in 2006 to $273,000 in 2007, according to John McCain’s tax returns.