The Romneys' PROPERTY TAX Scheme/L.A. Apprasier Arrested/Assessor Steps Down

[matt819]

21. How the rich stay rich

Willard's 2010 tax return showed income of some $20+ million, or $55,000 per day. Most (all?) of that was returns on his investment holdings, which are generally stated at around $250 million, but which are undoubtedly higher.

I don't know the property taxes in La Jolla, but let's assume just for a moment that the annual tax reduction was $200,000, though it's probably far less. This amounts to less than 4 days's earnings.

By way of comparison, for someone taking home (not earning, but taking home) $50,000 annually, the equivalent amount Willard is dickering about is $547.

I have three words.

Pa.
Thet.
Ic.