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From The Shark Tank:
Wasserman Schultz Has Unreported Second Home in NH, Lives Large on the High Seas
By Javier Manjarres
July 17, 2012
DNC Chair Debbie Wasserman Schultz and President Barack Obama’s re-election campaign team have been waging a coordinated effort against Republican Presidential nominee Mitt Romney by repeatedly casting aspersion on the length of his tenure at Bain Capital as well as the limited disclosure of his past personal income tax returns.
Wasserman Schultz has been relentless in her mocking of Romney’s offshore holdings and tax records even after it was disclosed that she had her own offshore investments including a Swiss Bank Account and holdings in foreign drug companies and the State Bank of India. In a desperate attempt to distract from the president’s record of failure, Wasserman Schultz has tried to paint Romney as a “one percenter” who outsources American jobs overseas and is disconnected from the American people. Wasserman Schultz has even boldly claimed that “I’m a Middle Class American.”
But now the Shark Tank has come into possession of information that has never been publicly disclosed which completely undermines Wasserman Schultz’ credibility as it pertains to her calls for transparency or the claim that she qualifies as “middle class.”
Speaking of “offshore” interests, on 6/9/12 Congresswoman Wasserman Schultz took a one-week cruise aboard the Royal Caribbean ‘Oasis of the Seas’ luxury liner to the Western Caribbean, embarking from Port Everglades, Florida. According to an individual that we’ll simply identify as “Bruce from Weston” who was also on the same cruise along with his family, Wasserman Schultz took the cruise with her husband Steve and three children along with Broward County School Board member Robin Bartleman and her family.
“Bruce” informed us that his own son became friendly with one of Wasserman Schultz’ daughters while the kids were playing in one of the ship’s designated play areas. Wasserman Schultz’ daughter then invited him up to the suite that her family was staying in.
While it shouldn’t be remarkable that Wasserman Schultz and her family took a cruise, the extent of her accommodations are most certainly eye-popping.
The two-story, spiral-staircase ‘Loft Suite’ that Bruce’s son was invited up to was on the 17th deck that overlooked the rear of the ship. According to Royal Caribbean, a 7-Day Cruise for 4 guests ranges from $15,264.08 in the Crown Loft Suite, to $19,364.08 in the Sky Loft Suite. These two types of suites are only found on the 17th Deck. (Source-Royal Caribbean)
So the question begs- how can someone earning a living on a congressional salary afford such a lavish suite on a cruise ship- especially someone who so adamantly claims she is “middle class?” Also take into consideration that Wasserman Schultz’ family was a party of five on board the cruise ship, meaning that they would have been charged an additional $1615 for the fifth guest, bringing the cost of the cruise somewhere between $16,879.08 and $20,979.08.
After the Shark Tank contacted and spoke to a Royal Caribbean sales agent, we were informed that as per maritime laws enforced by the U.S. Coast Guard, families of five or more that wish to reside in a ‘Loft Suite’ are mandated to upgrade to the Royal Loft Suite as per safety regulations. That brings a one-week excursion in a Royal Loft Suite aboard the Oasis of the Seas for a family of five to $33,151.65, taxes included.(Source- Royal Caribbean Email)
Debbie Wasserman Schultz may be a Member of Congress and the Chair of the DNC, but she’s not the Sultan of Brunei.
So did the Schultz’ pay the full ticket price of the cruise or did they pay for a less expensive boarding arrangement and then receive an upgrade from the cruise ship? If Wasserman Schultz did receive a complimentary upgrade, it’s possible that she would be in violation of the House Ethics Gift Rule. (See- House Ethics Rules)
The possibility also exists that this cruise was paid for by the Democratic National Committee- perhaps this expenditure could be classified as “voter outreach?” If that’s the case, donors to the DNC might want to think twice about contributing hard earned dollars that wind up paying for the ultra-expensive cruises of the DNC Elite.
But that’s not Debbie’s only instance of hypocrisy.
Back on the mainland, Newbury, New Hampshire is a quaint little town that’s located in Merrimack County. According to public records, we’ve learned that Wasserman Schultz owns a second home here along with another land parcel. Based on our own public records search, these assets have never been previously disclosed by Wasserman Schultz.
As per congressional disclosure rules, Wasserman Schultz is not required to report either her personal residence or additional properties that do not generate rental income. If Wasserman Schultz were to release her personal income tax returns as requested by her Republican congressional opponent, Karen Harrington, these assets would then be disclosed.(Source)
Debbie may not be not running for President, but she is running for federal office. We believe that what’s good for the goose is good for the gander- if you are repeatedly calling for your political opponents to fully disclose their tax returns, Debbie should be prepared to do the same.
To this point, Debbie continues to dodge our request for her tax returns. The question now arises- just what is the Congresswoman hiding?-Karen Harrington
Why was this not-so incidental piece of information ever discovered? Wasserman Schultz signs her name on legislative documents using “Debbie Wasserman Schultz,” but when she signs public records that requires her legal signature, Wasserman Schultz signs her name “Deborah Schultz.”
Example 1-Congressional Mailer-
Example 2-Personal signature on a mortgage agreement-
;
The first piece of property listed as owned by Wasserman Schultz is identified as Lot 17 at 17 Meadow Rd, Newbury, NH. The second property listed is as being owned by Steve and Deborah Schultz, located at 57 Meadow Rd, Newbury, NH. The Schultz’ have carried several mortgages on this property, the first on May 20, 2005 for $349,660, the second on June 30, 2008 for $371,250, the third on April 27, 2009, and the last one on November 24, 2010 for $374,500.
So let’s do some simple math. The Schultz’ 2010 value of their Newbury, NH home is estimated at $503,400, which includes the land and the 3 bedroom structure. When you add the total estimated value of her primary residence in Weston, Florida, valued in 2012 at $409,850, Wasserman Schultz has close to $1 million in total real property.
Combined with her recently disclosed foreign investments and her husband’s undetermined salary at the Community Bank of Broward, can Debbie Wasserman Schultz really count herself as just another “middle class” American who practices full disclosure of her own assets in the interests of transparency?
**Written by Javier Manjarres**
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Democrats Attack Offshore Accounts. Democrats Need to Look Within Themselves. Look in the Mirror Dems…..
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From Obama’s Campaign…David Axelrod:
Via Patterico’s Pontifications
7/15/2012
Axelrod: Unlike Romney, Obama Doesn’t Use Tax Shelters
At the verrry end of this Washington Times piece we see this:
Mr. Axelrod also hit Mr. Romney hard on taxes, pointing out that the United States loses $100 billion a year to offshore tax havens such as Switzerland.
“We know Gov. Romney takes advantage of these,” he said. “I’m not suggesting that he’s done anything illegal, but what I am suggesting is that he’s taking advantage of every loophole.”
“The president could do those things, but he doesn’t do those things,” Mr. Axelrod added.
April 13, 2012: Obama Sets Up Tax Shelter for His Kids:
President Obama and his wife, Michele, gave a total of $48,000 in tax-free gifts to their daughters, according to tax records made public on Friday.
The president and his wife separately gave each daughter a $12,000 gift under a section of the federal tax code that exempts such donations from federal taxes.
There is nothing illegal about the president’s taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthy—“millionaires and billionaires” like himself—to pay less in taxes.
Time for Axerod to raise his own eyebrows!
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OBAMA FAMILY TAX SHELTER
FIRST FAMILY TRANSFERS WEALTH, AVOIDS TAXES
President Obama and his wife, Michele, gave a total of $48,000 in tax-free gifts to their daughters, according to tax records made public on Friday.
The president and his wife separately gave each daughter a $12,000 gift under a section of the federal tax code that exempts such donations from federal taxes.
There is nothing illegal about the president’s taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthy—“millionaires and billionaires” like himself—to pay less in taxes. He has yet to propose a comprehensive plan to reform the byzantine tax code.
The Obama’s tax return indicates that the gifts, likely for their daughter’s college educations, began in 2007, when the maximum exemptible amount was $24,000 per couple. The maximum exemption has since increased to $26,000 per couple.
The Obamas paid a total federal tax rate of 20.5 percent on a gross adjusted income $789,674, which would typically fall within the top federal rate of 35 percent. According to an analysis of the president’s tax return, he may have paid a lower rate than his secretary despite making more than eight times as much money as she did.
His most recent tax proposal—the so-called “Buffett Rule”—would increase taxes on about 4,000 millionaires and raise about $4.7 billion in new revenue per year, enough to cover about 0.4 percent of the projected budget deficit in 2012. Though the rule would apparently not hit the president himself.
Supporters of the rule have acknowledged that the projected revenue from the “Buffett Rule,” which the Democratic-led Senate is expected to vote down, is “not even a meaningful small amount.”
The Obama’s untaxed gift to their daughters will leave American taxpayers to subsidize the college education of the children of the multi-millionaire Obamas.
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