skippy the bush kangaroo: if rove leaves

Monday, August 13, 2007

if rove leaves

who will be in charge of rebuilding the gulf coast after katrina? well...karl's done a few things to get some things built...for the wealthy football fans and the "investor" class.

with large swaths of the gulf coast still in ruins from hurricane katrina, rich federal tax breaks designed to spur rebuilding are flowing hundreds of miles inland to investors who are buying up luxury condos near the university of alabama's football stadium.
about 10 condominium projects are going up in and around tuscaloosa, and builders are asking up to $1 million for units with granite countertops, king-size bathtubs and 'bama decor, including crimson couches and bear bryant wall art.
..the go zone was drawn to include the tuscaloosa area even though it is about 200 miles from the coast and got only heavy rain and scattered wind damage from katrina.
..an investor could write off more than $155,000 of the cost of a $300,000 condo in the first year and use the savings to lower his taxes on other rental income, according to kelly hayes, a tax attorney who advises investors in southfield, mich. without the go zone tax break, the depreciation benefit from a single year on such a property would typically be just $10,909.

(the tax break is not available to people who buy a home for their own use.) - ustoady

can't someone, somewhere bring suit against rove for crimes against humanity now that he is a private citizen? i only pray there is a special place in hell for him.

(tip o' the kangaroo tail to .common sense)

Labels: katrina, rove