Arnold Says, "I'll be Taxed!"
Schwarzenegger releases tax returns!
Reported By: Reuters
Friday, April 14, 2006

As Americans scrambled to get their taxes done, California Gov. Arnold Schwarzenegger released on Friday his own pumped-up tax returns for the last three years.

The returns from 2002, 2003 and 2004 give a glimpse into the life of the actor turned Govinator.

In 2004, the former champion body builder brought in some $17 million, including more than $1 million from interest. About $4.2 million came from wages paid out by Schwarzenegger's Oak Productions, a company that serves as a clearing house for his movie income, residuals, and other business interests.

That year he gave $460,000 to charity, including more than a thousand shares in Starbucks to two private schools in Los Angeles.

He paid his household employees - housekeepers, gardeners, and nannies - $390,000. Just the taxes for those employees added up to $110,000 more than double the California median household income.

Of the returns released, 2002 was the most prosperous for Schwarzenegger. His total income was just more than $24 million, including $18 million in wages and $2.48 million in capital gains. It was the year he filmed "Terminator 3," his last big action movie before becoming governor.

After becoming governor, almost all of Schwarzenegger's investments and financial interests were transferred into a blind trust.