Tuesday, June 09, 2015

Marco Rubio's success in gathering expensive assets while ignoring the costs of legal actions against him.

Senator Rubio has a problem. He has spent money like water in purchasing a home and a $60,000 speed boat. His home is the most expensive in his neighborhood. Really? I have an uncle that is a self-made millionaire several times over and he has the most expensive home in his neighborhood. What OTHER income does Senator Rubio have to justify his social status?

Government jobs don't pay all that well. They are good jobs with great benefits, but, they ain't all that. 

Sorry, my mistake, it is a $80,000 for the speed boat.

The Rubios live in a home in West Miami that is one of the more expensive ones in the area. Ryan Stone for The New York Times 

June 9. 2015
By Stever Eder 

...In speeches, (click here) Mr. Rubio, a Florida Republican, spoke of his prudent plan for using the cash to finally pay off his law school loans, expressing relief that he no longer owed “a lady named Sallie Mae,” as he once called the lender.

But at the same time, he splurged on an extravagant purchase: $80,000 for a luxury speedboat, state records show. At the time, Mr. Rubio confided to a friend that it was a potentially inadvisable outlay that he could not resist. The 24-foot boat, he said, fulfilled a dream....

What is exceptionally odd is the fact he owes money to governments for things like tickets. That doesn't make sense. How does a US Senator who has plenty of money to throw around not pay infractions in the law?

...In the past week, he suffered a new loss when he sold his second home in Florida’s capital, Tallahassee, for $18,000 less than he and a friend paid for it a decade ago. The house had previously faced foreclosure after Mr. Rubio and his friend failed to make mortgage payments for five months....

This is a little more than traffic tickets. There are many people that own more than one home and manage them just fine. None of this makes sense. A US Senator has all the amenities as any person with accumulated wealth, but, there are these strange inconsistencies. 

Is Senator Rubio indirectly stating he simply didn't bother with the financial details of his life or does he actually have sincere misunderstanding of the definition of wealth? Wealth occurs when there is a positive balance every year one has to pay taxes from, including state taxes. Mortgages are one of those really good items that stem paying higher tax rates. So, I think Senator Rubio can understand why all this inconsistent financial behavior is more a suspicion to many of the electorate rather than a simple annoyance.

Questionable finances may not worry Republicans. After all US House member Joe Walsh came to office owing tens of thousands of US in child support. I guess anything is possible. 

I am fairly sure boats can be used as a second home. Probably even speed boats.