A closer look at Romney's real-estate problem

[ProSense]

A closer look at Romney's real-estate problem

By Steve Benen

<...>

But the L.A. Times has a fresh look at the story today, noting some details I hadn't seen before (thanks to reader R.P. for the tip).

Mitt and Ann Romney were easily able to afford a $12-million La Jolla home. But that didn't insulate them from the winds buffeting the real estate market in the months following their purchase in 2008.

After paying cash for the Mediterranean-style house with 61 feet of beach frontage, they asked San Diego County for dramatic property tax relief.

Romney, the presumptive GOP nominee for president whose wealth is estimated at $250 million, has rejected calls from Democrats and Republicans to release his income tax returns prior to 2010. But San Diego County assessor records shed light on one sliver of the couple's personal taxes during that time: a months-long effort to reduce their annual property tax bill.

Now, it's jarring enough that someone who hasn't earned a paycheck in a decade can pay cash for a $12 million beachfront mansion. It's also odd that Romney hired a lobbyist for his house.

But in this story, we learn that Romney desperately wanted local officials to believe his home had lost nearly half its value a mere seven months after he bought it. Why? So he could pay less in taxes.

As it turns out, the local assessors weren't going for it, and the Romneys had to settle for a more modest reduction. But did the candidate really have to fight to lower his property-tax bill after he'd already paid cash for a car-elevator mansion?

http://maddowblog.msnbc.com/_news/2012/08/06/13146482-a-closer-look-at-romneys-real-estate-problem

<...>

Remember Romney's startling heartless statement (... I know, Which one?)

This one:

Romney rejects foreclosure relief
by Steve Benen, washingtonmonthly -- October 18, 2011

“Don’t try to stop the foreclosure process. Let it run its course and hit the bottom,” Romney said when asked what he would do to jump-start the floundering housing market.

Which is worse -- that one, or his startlingly callous Let Detroit Go Bankrupt screed?

More: "Did you know that Romney had a serious stake in the CDO-Derivatives game?"
http://www.democraticunderground.com/1002999369

[Blackhatjack]

1. Presidents, like all taxpayers, are NOT REQUIRED to take every tax deduction available to them...

Deductions are optional.

The IRS acknowledges this, and treats a failure to claim a deduction in the same manner as a waiver.

[KurtNYC]

2. so he flip flopped on the value of his SD mansion

Paid $12 mil then said it wasn't worth what he paid.

[ProSense]

3. Or he

"so he flip flopped on the value of his SD mansion"

...flip flopped on aid to struggling home owners whose homes lost value.

Or it's Mitt being Mitt: Aid for the Mitt (and his horse), but screw "you people" and your homes.

[ProSense]

4. Kick! n/t

[malaise]

5. WilLIARd Rmoney is a nasty piece of work

A total and complete ReTHUG scumbag.