Apr 15, 2008 12:46 pm US/Central
Income Drops For Mayor And First Lady Daley
But They Gave More To Charity
CHICAGO (Sun-Times Media Wire) ―
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Mayor Richard M. Daley (File)
CBS
Mayor Richard M. Daley and his wife made less money last year than in 2006 but gave more to charities, according to their most recent tax returns.
Maggie Daley cut her consulting work in half -- bringing in just $50,000 compared with $100,000 in 2006. The Daleys combined made $238,190 after deferrals.
That's a 34.5 percent decrease from the $363,647 they reported in 2006, when about $70,000 of their income came from selling mutual funds. The Daleys made $14,579 in charitable contributions last year, up from the $13,690 donated in 2006, records show.
Maggie Daley's income comes from her consulting work with Academy of Achievement, a leadership organization. Mayor Daley makes $216,210 in his city job. The Daleys made $9,765 in capital gains last year, along with $10,358 in interest and dividend income.
The Daleys paid $47,034 in federal taxes last year and are due a $16,649 refund -- $5,000 of which they will apply to this year's taxes. They paid $6,715 in state taxes and are due a $2,535 state refund -- $1,000 of which they will apply to next year.
Mayor Daley deferred $44,661 of his income to his pension, 401(k) and health insurance.
The couple paid $1,411 in taxes for housekeeping, and also paid $13,057 in property taxes on their South Loop condo, with another $16,383 in property taxes paid on their Michigan home.
Daley has disclosed his tax returns since 1979. Gov. Blagojevich has also released his tax information. Cook County Board President Todd Stroger, who heads the state's third-largest government, does not make that information public.
(Source: Sun-Times Media Wire © Chicago Sun-Times 2009. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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