The Finances of Bernie Sanders

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Bernie Sanders filed his tax returns and Senate financial disclosures during his campaign. They showed he earned an income of $205,271 and payed $31,825 in taxes for 2014. These returns only covered until his campaign started.

His Senate financial disclosure showed that he had to fend off $50,000 in credit card debt and nearly $1 million in mortgage debt for the same period. On top of this he reported a total net worth of only $528,014.

However in August Senator Sanders and his wife paid $600,000 in cash for a summer “vacation home” with 500 feet of Lake Frontage on Lake Champlain. Part of this his wife said came from the sale of a home that had been in her family since 1900. Perhaps it did! Still after having to fend of $50,000 in credit card debt and a million dollar mortgage debt why would they purchase another home especially when it cost Sanders more than his stated net-worth.

Sanders new political organization “Our Revolution” tax status is 501(c)(4) which simply means it can collect large sums of money from anonymous sources. Many of Sander’s people including, Kenneth Pennington, who was the digital director of Our Revolution have quit as a result of this and over questions about his finances that have arisen since he left the race. Oddly, Sanders has decried how all this money in politics has destroyed the democratic process.

None of this has been a story in Vermont where Sanders has “Rock Star” status. He needs no money for reelection campaigns even though he is 74 years old and will likely serve until his death as will Senator Leahy who is 76 and will be elected for another six years in November.

Sorry Mr. Milne but these two men could die and they would still be reelected if their names were on the ballot. It’s one of the reasons we need term limits. As for Bernie’s financial situation, it just seemed a little odd to me.

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