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Friday, August 17, 2012

Harry Reid's millions

Remember the Harry Reid/Romney taxes hoop-la? Well, the National Review has taken the time to dig up past reports on Harry Reid's millions, since he's never released any tax returns. Reid's worked in the public sector for all but two years of his entire career. So how did he get so wealthy? He claims it is good investing (hmm... many Congressmen claim that and earn millions while serving the public...). Here is different example from National Review. Feel free to read it all.
The Los Angeles Times reported in November 2006 that when Reid became Senate majority leader he committed to making earmark reform a priority, saying he’d work to keep congressmen from using federal dollars for pet projects in their districts. It was a good idea but an odd one for the senator to espouse. He had managed to get $18 million set aside to build a bridge across the Colorado River between Laughlin, Nev., and Bullhead City, Ariz., a project that wasn’t a priority for either state’s transportation agency. His ownership of 160 acres of land nearby that stood to appreciate considerably from the project had nothing to do with the decision, according to one of his aides. The property’s value has varied since then. On his financial-disclosure forms from 2006, it was valued at $250,000 to $500,000. Open Secrets now lists it as his most valuable asset, worth $1 million to $5 million as of 2010.

How Reid acquired that land is interesting, too. He put $10,000 into a pension fund his friend Clair Haycock controlled, to take over the 160-acre parcel at a price far below its assessed value. Six months later, Reid introduced legislation that would help Haycock’s industry, a move many observers said appeared to be a quid pro quo, though Reid and Haycock denied that the legislation was the result of a property deal.
Yup. Conservatives don't call him "Dingy Harry" for nothing. And as for Romney's taxes? It's all politics.

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