How GW Bush really made his fortune...

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How GW Bush really made his fortune...

Postby RD » Fri Aug 15, 2008 12:22 pm

I'll bet people will be quite surprised to learn that most of George W. Bush' fortune was funded by taxpayers and by taking other peoples' land by eminent domain.



Bill Moyers talks with David Cay Johnston

-exerpt from transcript, though the entire interview is fascinating-

BILL MOYERS: George W. Bush.

DAVID CAY JOHNSTON: Well, this is one-- this is a great irony. George Bush owes almost his entire fortune to a tax increase that was funneled into his pocket and into the use of eminent domain laws to essentially legally cheat other people out of their land for less than it was worth to enrich him and his fellow investors.

BILL MOYERS: By building this stadium in Arlington, Texas

DAVID CAY JOHNSTON: For the Texas Rangers.

BILL MOYERS: --baseball team-- Texas Rangers.

DAVID CAY JOHNSTON: Right.

BILL MOYERS: That's right.

DAVID CAY JOHNSTON: One of the key sources I quote is a prominent Republican lawyer [Ray Hutchison] married to a United States senator who is the expert in Texas on municipal finance. The subsidy, he says, is $202.5 million. And Bush and his partners captured about 168 million of it.

BILL MOYERS: Bush, you say, used eminent domain to claim the land on which the stadium was built, right?

DAVID CAY JOHNSTON: Right.

BILL MOYERS: And Bush advised his investors, his co-investors this is a sweet deal …

DAVID CAY JOHNSTON: Oh, yeah. He said that I mean, here's this money losing team. It's got this little stadium. It can't make money. But if we can get a stadium built, it'll be worth a lot of money. And that's going on all over the country. All you have to do is get the stadium built and we'll-- you'll be rich.
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Re: How GW Bush really made his fortune...

Postby RBarnes » Fri Aug 15, 2008 12:34 pm

RD wrote:I'll bet people will be quite surprised to learn that most of George W. Bush' fortune was funded by taxpayers and by taking other peoples' land by eminent domain.


How is this any different then the Clinton's and their land deals?
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Re: How GW Bush really made his fortune...

Postby TCF » Fri Aug 15, 2008 3:02 pm

RD, news flash, Bush isn't running for President, so who cares. not to mention, did you forget about the liberal judges who passed a law saying anyones home can be taken by eminent domain.
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Re: How GW Bush really made his fortune...

Postby platypusman » Fri Aug 15, 2008 3:36 pm

Also who takes anything Moyers says seriously, he is a joke.
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