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1999 Bush Income Tops $1.6 Million

October 22, 2000|Reuters

AUSTIN, Texas — Republican presidential hopeful George W. Bush reported income of just over $1.6 million in 1999--nearly seven times that of his Democratic rival, Vice President Al Gore.

Federal tax returns released by Bush's campaign Saturday showed the Texas governor and his wife, Laura, had a total taxable income in 1999 of $1,610,400, composed mainly of Bush's salary and taxable interest. The Bushes paid $449,827 in federal income taxes.

Gore, the Democratic presidential nominee, and his wife, Tipper, earned $240,930 in 1999, according to tax returns filed earlier this year.

Bush's tax return, which was filed Oct. 15--the final deadline for the 1999 returns that had received a six-month extension--showed the governor and his wife made charitable donations that almost equaled Gore's total earnings.

The report said the Bushes gave a total of $210,165, or about 13% of their income, to charity in 1999.

Gore, who earned a nickname of "Vice President Scrooge" after donating $353 in 1997, gave $15,000, or about 6%, to charity in 1999.

Bush's tax return, filed by a trust company, showed capital gains of $546,380 and a $21,174 loss from partnerships or other ventures.

Bush, who published "A Charge to Keep" with his aide Karen Hughes last year, also received $130,000 for advance book royalties.

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