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President - Financial Disclosure
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1561646
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President - Financial Disclosure
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Richard B. Cheney Files
Richard Cheney's Campaign Subject Files
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Presidential campaign, 1976
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The original documents are located in Box 17, folder "President - Financial Disclosure" of
the Richard B. Cheney Files at the Gerald R. Ford Presidential Library.
Copyright Notice
The copyright law of the United States (Title 17, United States Code) governs the making of
photocopies or other reproductions of copyrighted material. Gerald Ford donated to the United
States of America his copyrights in all of his unpublished writings in National Archives collections.
Works prepared by U.S. Government employees as part of their official duties are in the public
domain. The copyrights to materials written by other individuals or organizations are presumed to
remain with them. If you think any of the information displayed in the PDF is subject to a valid
copyright claim, please contact the Gerald R. Ford Presidential Library.
Digitized from Box 17 of the Richard B. Cheney Files at the Gerald R. Ford Presidential Library
Dick -
of
ABC
The tax question is
whether the President, in announcing
how much he has paid in
Federal & State taxes, should also
put out totals for the last
3 years m The following tex
matters: Charitable Contributions
Medical Expenses
Interest Payments
FORD & LIBRARY GERALD
other Deductions
Total Itemized Deductions
Note in us News article That
5 of The 10 Dem candidate have
done This. It gives us me more weapon
against RR.
Dave Person
DEMOCRATIC
$1,287,357 invested in stocks in 22 companies, includ-
ing $633,782 in Lincoln Consolidated, Inc., $70,500 in Com-
bustion Engineering, $64,000 in Allied Stores and $370,218
in banks and other companies not listed on an exchange.
HOPEFULS LIST
$268,756 cost of homes in Brazoria, Tex., and Washing-
ton, D.C.
$110,710 in personal property.
THEIR
$57,957 cash value of insurance policies.
WEALTH
$37,112 cash in banks.
LIABILITIES: $1,264,383, including $1,199,226 in mort-
gages and notes payable and $65,157 in accounts payable.
Rarely have so many presidential candidates told SO much
NET WORTH: $2,349,491.
about their personal finances.
The rush to disclose information about assets, incomes
and taxes is regarded as a legacy of Watergate.
SENATOR ROBERT BYRD
Some candidates have voluntarily filed financial state-
ments with Common Cause, a citizens' interest group, or
ASSETS: $199,000 as of end of
have simply made public details of holdings and copies of
1975, including $135,000 home in
income-tax returns. Governor George Wallace filed a re-
McLean, Va., $25,000 of other prop-
quired statement with Alabama's Ethics Commission.
erty, $25,000 in bank deposits and
President Ford, in the near future, is expected to issue a
100 shares of stock in Avemco, one
new financial statement updating the one he submitted to
share in Marriott.
Congress during his vice-presidential confirmation hearings.
INCOME: $54,608 adjusted gross
Ronald Reagan has been reluctant to disclose his income-tax
income in 1975, mostly from his Sen-
returns-but will be under political pressure to do so.
ate salary, bank interest and fees for
On these pages are details that have been made public by
speeches. During 1971-75, income totaled $268,360.
10 announced Democratic contenders. It should be noted
TAXES: Federal tax of $16,549 on 1975 income, West
that the statements are not comparable. Some candidates
Virginia income tax of $2,080. Total taxes in 1971-75:
have revealed more than others. Some did not list their
$75,002, of which $66,536 was federal income tax, $8,466
wives' finances. Some appear not to have listed the value of
State tax.
such assets as their residences. Some haye valued invest-
ments at purchase price, others at market value.
Still, taken together, the candidates' statements represent
JIMMY CARTER
the most detailed accounting yet of the wealth of presiden-
tial aspirants.
ASSETS: $683,983 as of Dec. 31.
1974, chiefly $275,892 value of inter-
est in Carters Farms, Inc., and
SENATOR BIRCH BAYH
$269,006 in Carters Warehouse, both
in Plains, Ga. Among other assets at
ASSETS: $244,027 as of May 20,
market value-
1975, including-
$54,090 value of home in Plains.
House in Washington, D.C., pur-
$35,925 cash value of insurance.
chased for $100,000.
$17,933 of common stocks
Farm in Indiana, cost $68,000.
owned by Mrs. Carter, including shares of Coca-Cola, Rich's.
Securities valued at $48,027.
Inc., and Advance Investor's.
Cash and personal property,
LIABILITIES: $95,285, consisting of $80,000 set aside for
$11,000.
income taxes on unrealized gain in property; $14,785 in
Two cars valued at $5,800.
notes payable and $500 of miscellaneous accounts payable.
$11,200 cash value of life insurance.
NET WORTH: $588,698.
LIABILITIES: $55,252. including a home mortgage of
INCOME: $97,334 on joint federal income-tax return for
$51,140 and auto loans of $4,112.
1974. This included $52,303 in salary and a net of $41,387
NET WORTH: $188,775.
from interest in Carters Warehouse.
INCOME: $74.608 gross income declared on joint federal
TAXES: $26,057 in federal income tax after $22,130 de-
return filed for 1974. Principal sources were $44.012 in
ductions, including $10,186 in State and local taxes, $9,028
salary, mostly as Senator, $18,500 from farm, $7,527. net,
in contributions and $2,666 for interest.
FORD
from speeches and writings, and $2,913 in dividends.
TAXES: $20,212 in federal income tax for 1974.
FRED HARRIS
LIBRAR
SENATOR LLOYD BENTSEN
ASSETS: $156,275 as of Nov. 10.
1975-chiefly real estate with mar-
ASSETS: $3,613,874 as of Feb. 28.
ket value of $135,000 and $12,200 in
1971. All assets were later put in
personal property.
blind trust and have not changed
LIABILITIES: $42,878, including
significantly, except for appreciation
$33,380 in mortgages, $4,000 bank
of some real estate. Among them:
loan. $2,798 in auto loans.
$1,801,070 in real-estate invest-
NET WORTH: $113,397.
ments-about 1.080 aeres at four
INCOME: $44,620 in 1974 on joint
sites in Texas.
return, including $31,950 in wages and $12,626 from lee-
TAXES: $34,896 income taxes, after deductions of
$48,106 for interest, $10,349 in charitable contributions.
SARGENT SHRIVER
ASSETS: $135,000 as of Aug. 31,
1975-
$45,000 in checking accounts.
$30,000 partnership interest in
law firm.
$45,000 cash value of life-insur-
ance policies.
$15,000 in personal property,
such as auto, jewelry, clothing.
INCOME: $127,054 taxable income in 1974 on separate
return, almost entirely from his law practice His earnings
from his law firm ran around $150,000 in 1975.
TAXES: $39,999 in federal income tax in 1974, after
deductions of $18,602 for medical expenses, $23,044 in
State and local taxes, $2,122 in charitable contributions and
$4,396 in other deductions-a total of $48,164 in itemized
Target 1976: the White House.
deductions.
tures. During 1971-73, income totaled $172,192. In 1975:
REPRESENTATIVE MORRIS UDALL
book and lecture fees of $20,000; wife's salary of $30,000.
TAXES: $10,678 in federal taxes in 1974. During 1971-73,
ASSETS: More than $250,000, in-
federal taxes totaled $48,074.
cluding wife's holdings-
$128,000 in real estate, counting
$45,000 equity in a home in McLean,
h SENATOR HENRY JACKSON
Va., and $83,000 in six tracts of land
in Arizona and Virgina.
ASSETS: $115,404 net, excluding
$47,079 in stock as of April 1,
estates in probate to which the Sena-
1975, with $41,000 of Catalina Sav-
tor is an heir. Among assets-
ings and Loan the major investment.
$56,589 credit from civil-service
$43,000 in personal property.
retirement fund.
$31,527 paid into the congressional retirement system.
$38,497 equity in home in Wash-
INCOME: $62,678 adjusted gross income on joint federal
ington, D.C.
return in 1974. Principal source of income, in addition to
$18,704 cash value of insurance
Representative's salary of $42,500, included $4,995 in inter-
policies.
est, and S13 153 from speeches and writings.
$1,614 in checking account.
TAXES: $13,636 in federal income tax after deductions of
INCOME: $77,671 adjusted gross income on joint return
$16,510, including $6,275 in miscellaneous congressional
for 1974, largely from $42,500 senatorial salary and $34,350
expenses, $4,941 in taxes and $3,194 in interest.
in fees from speeches and articles
is
FORD
TAXES: Federal income tax paid was $8,259 after $43,699
in itemized deductions, including $34,316 in contributions,
GOVERNOR GEORGE WALLACE
$4,258 in taxes, $2,885 in interest.
LIS848Y
INCOME: According to a state-
ment filed with the State Ethics
GOVERNOR MILTON SHAPP
Commission in Montgomery, Ala., on
April 21, 1975-
ASSETS: $2,812,096 net. including
$28,955 salary as Governor.
wife's, at end of 1974-with "no ma-
Stock dividends of "more than
terial change" as of Nov. 20, 1975.
$1,000 but less than $10,000" from
Investments at market value includ-
Investors Stock Fund, Inc.
ed $1,291,150 of bonds, mostly Penn-
Stock dividends of "less than
sylvania tax-exempt securities;
$1,000" from Columbus Mills, Inc., Vanguard Security
$467,566 of common stock in 45
Fund, All American Funding. Inc., Massachusetts Investors
companies, including AT&T. Crown
Trust. and Chesapeake & Ohio Railroad Company.
Cork, International Utilities, Mobil,
"Between $1,000 and $10,000" in fees from Doubleday
Southern Natural Resources, American Home Products,
& Company, publishers.
Phillips Petroleum. Burlington Northern, Florida Gas,
More than $10,000 in royalties from Wallace Campaign,
Merck and Ford Motor: $1,065,688 in certificates of deposit
Inc., on the sale of books, coins and watches.
and $95,829 in checking and savings accounts.
REAL ESTATE: A residence in Montgomery with a fair
INCOME: More than $200,000 in 1974. including $46,379
market value of "between $50,000 and $250,000."
salary as Governor of Pennsylvania, $165,405 interest,
DEBT: Three bank loans totaling "at least $25,000 but
$24,130 dividends, $6,014 in capital gains.
less than $50,000."
10
RBC HAS SEEN
January 9, 1976
KAT
Tickle the attached note from the President about Bob McBain
for February 1, 1976.
RBC
Attachment
FORD & LIBRARY GERALD
THE WHITE HOUSE
WASHINGTON
Bob Mc Bain
Financial report
Feb. 1st
1) Income tax returns
2) assits & liabilities
ORIGINAL RETIRED TO
SPECIAL DOCUMENTS FILE