Candidates Won’t Release Tax Information

Former Sen. John Edwards, D-N.C.,worked for a hedge fund while heading a poverty center in between his presidential campaigns. But since he isn’t telling, voters can’t know how much money he earned.

The face of politics is changing.  Seems a new trend is brewing in that our current batch of candidates is refusing to disclose their tax information. Over at ABC News, they’re reporting that what had become common practise after Watergate, has fallen into disfavor with our current candidates.  Of note, Bill Clinton, was the only previous person to not disclose financials.

Former Gov. Mitt Romney, R-Mass., says his wife, Ann, once donated to Planned Parenthood, but that he never contributed to an abortion-rights group himself. But there’s no way for the media and the public to check that claim.

I can only guess at the reasons why folks wouldn’t want tax numbers made public, but am mildly amused at the hypocrisy of Democratic Candidates, who I would imagine support transparency of government.  Are they afraid their constituents will realize the extent of their financial dealings?

Full Disclosure Not Required

The candidates who keep their returns private generally note they are complying with all federal regulations with regard to financial disclosures.

The candidates are required to submit standard financial disclosure forms — due next week — similar to those filed by all members of Congress, stating their income sources and investment holdings in broad financial categories.

Here’s the link:

Money, money, money. 2008 Campaign Spending

Here’s the latest on campaign funding, both raising and spending.  I’ve screen captured the data from the Center for Responsive Politics.  First chart shows the Dems with Clinton heading the pack in the total amount raised, but falling behind Obama in spending.

As for the Republicans, here’s their stats.  Romney leads in both money raised and spent, with Guiliani in second place on money earned.  In this case, McCain is second in spending. 

After just three months of fundraising, the candidates for president in 2008 have already raised more than $150 million. No presidential money chase has ever started so quickly. By some predictions, the eventual nominees will need to raise $500 million apiece to compete—a record sum.