Beshears report $166,244 in income on 2010 tax returns

PDF: Beshear 2010 tax return

By Jack Brammer
jbrammer@herald-leader.com

FRANKFORT — Gov. Steve Beshear and his wife, Jane Beshear, released 2010 state and federal income tax returns Tuesday that showed a total joint gross income of $166,224.

The tax returns showed a total joint taxable income of $107,259, a capital loss carryover, modest tax refunds from federal and state government and nearly $19,000 in charitable contributions.

In a statement, Beshear sent a message to Republican challengers David Williams and Phil Moffett, who have declined to make public their returns in this year’s race for governor. GOP gubernatorial candidate Bobbie Holsclaw released her returns last week.

“At a time when the public’s distrust of public officials is high, it is imperative that those who seek this state’s highest office be completely open and transparent about their income, expenses and financial dealings” Beshear said. “Only by releasing our tax returns can the public be reassured that we have nothing to hide and will put the taxpayers’ interest before our own.”

Beshear at first refused to disclose his income tax returns during his 2007 race for governor. He later released a list of his assets and liabilities, then decided to make public his income tax returns. The Beshears have released their tax returns each year since he has been governor.

The Beshears’ tax returns for 2010 showed $128,023 in wages in his occupation as governor and her job as farm manager.

They reported $34,272 in dividends from Charles Schwab and Co., Hilliard Lyons and the Ad Valorum Investment Club and $7,035 from Social Security benefits.

Their itemized deductions were $51,665. They got a federal tax refund of $3,949.

Beshear’s campaign manager, Bill Hyers, said the campaign will release soon the tax returns of Beshear’s running mate, former Louisville Mayor Jerry Abramson.

Williams’ campaign manager, Scott Jennings, said Beshear is trying to use the issue of tax returns for political purpose.

“I was under the impression Steve Beshear loved horses, but nonetheless he’s beating this dead one mercilessly,” Jennings said in a statement.

Jennings said there is more public information about Williams’ personal financial situation than any other candidate for governor in Kentucky history through his financial disclosures as a state legislator.

Moffett’s campaign manager, David Adams, responded to news of Beshear’s tax returns with a statement about the state’s debt.

Sarah Reidy, spokeswoman for Holsclaw’s campaign, applauded the governor.

“Transparency in our leaders is important in restoring the trust of our citizens and we are disappointed that our two primary opponents fail to disclose their returns,” Reidy said.

Filed Under: 2011 Statewide Races • David Williams • Governor's Race • Phil Moffett • Steve Beshear