Swann Earned $1 Million in '05

[Divernan]

www.pennlive.com/news/patriotnews/index.ssf?

(Look under Today's Headlines, subheading "Capitol")

Swann earned $1 million in '05
Tax return lists $405,918paid by Heinz
Thursday, May 04, 2006
BY SHARON SMITH
Of The Patriot-News
Lynn Swann, the Republican candidate for governor, might not be rich enough to finance his own campaign, but by most people's standards, he is a wealthy man. Last year, Swann had an adjusted gross income of slightly more than $1 million, according to the 2005 tax returns released by his campaign yesterday. The income covers the money Swann received from ABC Sports, speaking fees and the money he makes selling football memorabilia over the Internet.

The Pennsylvania Department of Revenue this year launched a probe to determine whether Swann's company should have been remitting sales taxes to Pennsylvania for collectibles the business sells over the Internet. The company is incorporated in California, but has a Pennsylvania business address and phone number.

Swann also received $492,625 in business income. Most of that, $405,918, came from H.J. Heinz Co., where Swann sits on the board of directors. He also received compensation from Hershey Entertainment & Resorts Co. and Wyndham International Inc., where he also is a board member. The money Swann received from Heinz last year reflects his decision to take his deferred compensation, Alcivar said.

Swann had $103,586 in deductions and paid $346,814 in federal taxes. In terms of personal wealth, Swann's finances trump Democratic Gov. Ed Rendell's, who Swann faces in the fall election. Rendell, who released his tax returns last month, reported an income of $618,560.
In terms of charitable giving, Rendell and his wife, Marjorie, were bigger benefactors than the Swanns. The Rendells gave $49,869 to charity. Swann and his wife, Charena, gave $6,470 to charity.


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My comment: Swann's total adjusted gross income was $1,030,950. That means his charitable contributions equalled a whopping 6/10 of ONE percent, as compared to Rendell & his wife, who gave EIGHT percent of their income to charity. Swann's spokesman stated that Swann waived his speaking fees to several charitable organizations, but I say, when you're running for governor, these speaking engagements are more about putting your face out front to get votes than helping charities. I wouldn't be surprised if Swann didn't solicit "free" speaking engagements from these charities. He is notorious for refusing to ever, ever, EVER give kids or anyone else his autograph. They have to buy it from his internet business. His campaign handlers have just laid down the law to him that he has to start signing when asked, particularly at fund-raising campaign functions.

[blue neen]

1. $6,470 to charity.

He's one of those "compassionate conservatives." :sarcasm:

[rurallib]

2. Probably some friend or relative's church?

[AX10]

3. So Swann can become governor and then push through tax cuts...

for the affluent, all in the name of "stimulating the economy" and he (Swann) would take home a ton of more money than he already is earning.

[AnnieBW]

4. I respect Swann

For being a good football player. His actions since he left the field have been, well, not worthy of respect.

[Gabi Hayes]

5. sweet! 0.64% of his income to charity

if I made a hundred thousand that'd mean I'd give, what, $640?